Allegations of excessive listing fees on the cryptocurrency exchange Binance have been refuted by the company's co-founder Yi He. She emphasized transparency and noted Binance's contributions to charity.
Allegations of High Fees
The CEO of Moonrock Capital recently shared an experience with a Tier 1 project that spent over a year in due diligence with Binance. After this process, the project reportedly received a listing offer requesting 15% of its total token supply. The CEO highlighted the financial burden of such demands, suggesting costs could reach between $50 million and $100 million for a listing on a centralized exchange.
Yi He's Response to Claims
Yi He, Binance's co-founder, responded to the allegations on X (formerly Twitter), noting that these claims aimed to create fear, uncertainty, and doubt (FUD) about Binance. She stressed that Binance maintains a policy of transparent fees since 2018, encouraging projects to propose a “donation” amount entirely dedicated to charity. Quote:
Support from Industry Leaders
Coinbase CEO Brian Armstrong noted that asset listings on their platform are free. Andre Cronje, co-founder of Sonic Labs, supported Yi He, stating Binance charged nothing for the listing of his tokens, unlike Coinbase, which reportedly required fees ranging from $30 million to $300 million. Justin Sun, founder of Tron, also voiced similar support.
The allegations of high listing fees at Binance sparked industry debate, but Yi He clearly refuted these claims, emphasizing the exchange's commitment to transparency and charity.
