The co-founder of Binance, Yi He, addressed allegations by Moonrock Capital's CEO regarding high listing fees on the popular cryptocurrency exchange.
Allegations of High Fees
The CEO of Moonrock Capital shared an experience of working with a Tier 1 project that spent more than a year in due diligence with Binance. The project allegedly received a listing offer that included a request for 15% of its total token supply. This financial burden potentially costs projects between $50 million and $100 million for a centralized exchange listing.
Yi He Responds to Claims
Yi He stated that the allegations are aimed at creating fear and uncertainty surrounding Binance. She emphasized the importance of independent thinking and resisting unverified claims. Yi also reaffirmed Binance's commitment to transparency, stating that the exchange does not impose fixed listing fees, allowing projects to propose donation amounts directed entirely to charitable funds.
Support from Industry Leaders
Many industry leaders expressed support for Binance. Coinbase CEO Brian Armstrong noted that asset listings on his platform are free, while Andre Cronje of Sonic Labs stated that Binance charges no fees for his project. Similarly, Tron founder Justin Sun confirmed that their project was not charged for listing on Binance but faced high financial demands from Coinbase.
The discussion on high listing fees highlights the complexities of market dynamics on cryptocurrency exchanges, where transparency and fair competition play a crucial role.
