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Home” Business” Justin Sun, Andre Cronje claim Binance charges no listing costs while Coinbase needs millions
by
Vivian Nguyen
Nov. 4, 2024
Significant crypto exchanges deal with analysis over token listing costs and practices.
Secret Takeaways
- Justin Sun and Andre Cronje claim Binance charges no listing costs while Coinbase needs approximately $300 million.
- According to Moonrock Capital CEO, Binance demands a considerable part of a task’s overall token supply as a charge for listing.
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Tron creator Justin Sun and Fantom Network creator Andre Cronje asserted that Binance did not charge costs for noting their tokens. On the other hand, Coinbase asked for countless dollars for comparable services, which opposes Coinbase CEO Brian Armstrong’ s public declaration that listings are complimentary.
Debate surrounding listing charges on Coinbase and Binance came from a post from Moonrock Capital CEO Simon Dedic. Dedic revealed aggravation with the practices of crypto exchanges, particularly Binance.
According to him, jobs that wished to note on Binance needed to go through “ a year of due diligence.” Once they passed this action, they were requested a substantial part of a task’ s amount to token supply as a charge for listing.
Not just is this unaffordable for jobs, however these tokens are likewise the most significant factor for bleeding charts,” he stated.
In reaction to Dedic’ s post, Armstrong “stated that property listings on Coinbase are complimentary, welcoming jobs to use through their Asset Hub.
Cronje, commenting on Armstrong’ s post, exposed that his experience was various. Coinbase had actually approached his job, Fantom, with ask for listing charges varying from $30 million to $300 million, with a current quote of $60 million.
Sun backed Cronje’ s assertions, revealing that Coinbase asked for 500 million TRX (around $80 million) for noting TRON on its platform. He likewise discussed that Coinbase needed a $250 million Bitcoin deposit to be held in custody to improve liquidity.
Not all jobs can protect a listing merely by paying a charge, states Binance’ s He Yi
He Yi, co-founder of Binance, stated that if a job does not pass the exchange’ s extensive evaluation procedure, it will not be noted despite the monetary deal or portion of tokens supplied.
Yi clarified that Binance assesses tasks based upon their general quality and capacity, instead of simply their determination to pay. She likewise discussed that while Binance has clear guidelines concerning airdrops and partnerships, merely using tokens or airdrops does not ensure a listing.
Reacting to Yi’ s declarations, Dedic revealed uncertainty about her claims of not charging expensive costs for token listings.
So you are stating those are pure lies and Binance never ever asked a task for 15% or more tokens? Ultimately it doesn’ t matter how you call those costs as long as you are taking it from effort creators,”
