Binance co-founder Yi He has refuted claims made by Moonrock Capital's CEO regarding high listing fees on the popular cryptocurrency exchange.
Allegations of High Fees
The CEO of Moonrock Capital recently shared an experience with a Tier 1 project that had spent over a year in due diligence with Binance. After this process, the project allegedly received a listing offer requesting 15% of total token supply. The CEO highlighted the financial burden this demand places on projects, suggesting it could cost between $50 million and $100 million for a centralized exchange listing. He argued that such high fees not only make listings unaffordable but could also negatively affect token prices.
Yi He Responds to Claims
In response to these allegations, Yi He took to X (formerly Twitter), asserting that the claims were part of a strategy to create fear, uncertainty, and doubt (FUD) about Binance. She stated that such rumors may circulate but ultimately strengthen the exchange. Yi emphasized the importance of independent thinking and advised not to be swayed by unverified claims. Binance has maintained a policy of transparent fees since 2018, encouraging projects to propose a donation amount with no minimum.
Support from Industry Leaders
In response to the allegations, Coinbase CEO Brian Armstrong commented that asset listings on Coinbase are free. However, Andre Cronje, co-founder of Sonic Labs, supported Yi He, claiming Binance charged $0 for his project's listing. In contrast, he suggested Coinbase requested fees ranging from $30 million to $300 million. Similarly, Tron founder Justin Sun supported these claims, sharing his own experience of zero charges from Binance while alleging significant deposit requests from Coinbase for performance boosts.
The discussion on high listing fees on Binance has drawn industry attention, sparking debate and intensifying the competition among leading cryptocurrency exchanges.
