Simon, CEO of cryptocurrency advisory and investment firm Moonrock Capital, claimed that a Tier 1 project received a listing request from Binance, but Binance had to give 15% of the total token supply in exchange for the listing.
While Binance's claims that an unnamed potential project requested 15% of the total token supply for listing caused a great repercussion in the market, Binance co-founder Yi He denied these claims and explained Binance's altcoin listing policies.
Denying claims about token listing fees, the Binance co-founder explained the process involved in listing an altcoin on the exchange.
Yi He clarified the issue on his X account and said:
“If a project fails the screening and elimination process, it cannot be listed on Binance, regardless of the amount of money or tokens involved.
Binance’s airdrop rules for Launchpool and other listings are transparent and clear. However, this does not mean that projects willing to airdrop can be listed on Binance.
If you have 20% tokens and want to cooperate with Binance for airdrops, you can cooperate with our web3 wallet.
According to Binance’s co-founder, the exchange does not charge new projects a percentage of their token supply or a fixed amount for listing, since 2018 Binance’s listing policy states that all listing fees will be “transparent” and 100% of the fees will be donated to charity.
Stating that there will always be FUD, Yi He said that such FUD news makes Binance stronger.
Coinbase Claim from Andre Cronje!
Yi He finally referred to Sonic co-founder and developer Andre Cronje's post and congratulated him for speaking the truth.
“People like Andre Cronje who have the courage to speak the truth amidst the noise are the ones who truly deserve respect in society,” Yi He said.
Andre Cronje joined the Binance listing fee controversy and accused Coinbase: “Binance charged us $0. But Coinbase charged us $300 million, $50 million, $30 million and most recently $60 million. I respect that a lot. But that is absolutely not true,” he said, making similar accusations against Coinbase.
*This is not investment advice.