Recent claims regarding Binance's substantial listing fees have been refuted by the exchange's co-founder Yi He.
Allegations of High Fees
The CEO of Moonrock Capital recently shared an experience with a Tier 1 project that underwent over a year of Binance due diligence. Allegedly, the project was then offered a listing request for 15% of its total tokens. The CEO highlighted that such conditions could create a financial burden, ranging from $50 million to $100 million, potentially impacting tokens and the market negatively.
Yi He's Response to Claims
Yi He responded to these charges, highlighting that they are part of a strategy to create fear, uncertainty, and doubt (FUD) around Binance. She emphasized that rumors can strengthen the exchange amid unfair competitive practices. Yi also reiterated Binance's transparency and the necessity for projects to go through rigorous evaluation.
Support from Industry Leaders
Coinbase CEO Brian Armstrong stated that asset listings on his platform are free. In contrast, Andre Cronje, co-founder of Sonic Labs, supported Yi He, indicating Binance charged nothing for his project's listing, and pointed out differences in conditions on other exchanges. Justin Sun, founder of Tron, shared his experience, noting Binance's zero listing fees while indicating significant deposits were required by Coinbase.
The allegations against Binance triggered a broad response in the industry, leading to discussions about the pricing policies of other exchanges. Support from key leaders, including Andre Cronje and Justin Sun, has bolstered Binance's position on this matter.
