Crypto exchange Bybit refuted rumors of charging a million dollars for token listings in response to allegations made on social media.
Bybit's Response to Listing Fee Allegations
In an April 14 post, a user on X, known as 'silverfang88', accused Bybit of demanding multi-million dollar listing fees and using key opinion leaders (KOLs) to suppress criticism. Bybit CEO Ben Zhou urged the user to provide evidence, stating, 'The space has been chaotic because of rumors posted without proof.' In response, a Bybit spokesperson clarified that there is no fixed $1.4 million fee and that the listing process involves a promotional budget and a refundable deposit.
Allegations About the Campus Ambassador Program
The X user also alleged that Bybit issued trial contracts to students through its 2024 Campus Ambassador program and pressured KOLs to silence complaints. Zhou responded to these claims as well, again requesting proof: 'Please show evidence if Bybit has done anything wrong.'
Debate on Listing Practices at Other Exchanges
In November, debates surrounding asset listing practices at Coinbase attracted attention as well. Crypto figures Justin Sun and Andre Cronje challenged Coinbase CEO Brian Armstrong's claim that listing fees do not exist. Armstrong referred to a 2022 blog post as evidence, while project leaders like those from Tron and Sonic Labs claimed they faced significant listing fees.
Thus, Bybit has refuted allegations of high listing fees for tokens while providing insights into its procedures, adding a new perspective to discussions on transparency in crypto exchange financial operations.
