The CEO of Moonrock Capital recently accused Binance of high listing fees, claims that were later denied by Binance's co-founder Yi He.
Allegations of High Fees
The CEO of Moonrock Capital shared an experience where a project, under due diligence with Binance for over a year, received an offer allegedly demanding 15% of its total token supply. He emphasized that such high fees could be a financial burden, potentially costing between $50 million and $100 million, making listings unaffordable for many projects.
Yi He's Response to Claims
Yi He responded to the allegations, stating that this was an attempt to create fear, uncertainty, and doubt about Binance, emphasizing the exchange's commitment to transparency. She pointed out that Binance does not impose minimum fees, allowing projects to set their own donation amounts to charity.
Support from Industry Leaders
Coinbase CEO Brian Armstrong noted that asset listings on their platform are free. Andre Cronje from Sonic Labs corroborated Yi He's statements, indicating that they paid nothing for their token listing on Binance. Justin Sun from Tron also supported them, highlighting that unlike Binance, Coinbase required significant deposits to improve performance.
The high listing fees allegations sparked a broad discussion in the crypto community, with industry leaders expressing support for Binance, indicating a need to reconsider listing policies at centralized exchanges for greater transparency.
