Cryptocurrency exchange Binance was recently accused by Moonrock Capital CEO Simon Dedic of charging high listing fees to projects. Dedic claimed that Binance requested 15% of the total token supply from projects in order to list them. In response, Binance co-founder He Yi clarified that regardless of how much money or what percentage of tokens a project offers, they cannot be listed on Binance without passing the screening process.
Andre Cronje revealed that Binance listings are free while Coinbase charges high fees. He Yi responded to the listing controversy, and Binance’s listing strategy has drawn attention.
Cryptocurrency risk investment company Moonrock Capital CEO Simon Dedic recently tweeted that he had been in talks with a project raising nearly a billion dollars, and after over a year of due diligence with Binance, they finally received a listing offer. However, Binance requested 15% of the total token supply from the project as a listing fee.
Coinbase CEO Brian Armstrong took the opportunity to promote his platform by stating that projects do not need to pay listing fees on Coinbase. However, DeFi pioneer Andre Cronje directly criticized Coinbase, stating that he is willing to provide evidence of Coinbase’s fees and that the fees will still translate into listing costs for projects.
After Cronje spoke in favor of Binance, Binance co-founder He Yi responded to the FUD (fear, uncertainty, doubt), emphasizing the transparency of Binance’s airdrop rules. Despite this, Simon Dedic seemed unconvinced by He’s statement.
This year, there have been continuous criticisms of Binance’s listing strategy, with Binance responding publicly multiple times. Aunt_ww criticized Binance in June for listing VC projects with inflated prices, diluting market liquidity. He Yi responded by stating that even if Binance didn’t list these VC projects, market funds would still flow to meme coins, Ponzi schemes, and ETFs.
In September, He Yi responded again to community doubts about Binance’s listing strategy this year, explaining that Binance’s listing process consists of four stages: business, research team, committee, and compliance review. Binance lists projects with users, traffic, longevity, and solid business logic.
