Binance's Listing Fees: Myth or Reality?

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by Giorgi Kostiuk

2 years ago

Yi He, Binance co-founder, responded to claims by Moonrock Capital's CEO regarding high listing fees on the exchange.

Allegations of High Fees

The CEO of Moonrock Capital shared an experience with Binance, alleging that a project was offered a listing in exchange for 15% of its total token supply. He highlighted that such demands could incur significant financial costs—between $50 million and $100 million just for a centralized exchange listing. These high costs may make listings unaffordable and exert downward pressure on token prices.

Yi He Responds to Claims

Yi He refuted the claims, stating they aim to create fear and doubt around Binance. She emphasized the importance of independent thinking and advised against being influenced by unverified information. Yi reiterated Binance's commitment to transparency, noting that not all projects pass the rigorous screening process for listing. Since 2018, Binance has maintained a policy of transparent fees, allowing projects to propose 'donation' amounts directed entirely to charity.

Support from Industry Leaders

Coinbase CEO Brian Armstrong commented that asset listings on Coinbase are free. Andre Cronje, co-founder of Sonic Labs, supported Yi He, claiming Binance charged $0 for his project's listing, whereas Coinbase requested fees ranging from $30 million to $300 million. Similarly, Tron founder Justin Sun stated Binance charged them $0, whereas Coinbase required significant deposits for performance enhancements.

In response to allegations of high listing fees, Binance emphasized transparency and independence, gaining support from industry leaders.

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