Binance Co-Founder Clarifies Asset Listing Policies, Dispels FUD

Binance co-founder Yi He has addressed recent concerns regarding the platform's asset listing fees, emphasizing that the exchange operates with transparent policies. This clarification comes in response to claims made by Simon Dedic, CEO of Moonrock Capital, who alleged that Binance charges exorbitant fees for listing tokens.

Accusations of High Listing Fees

On October 31, Dedic took to X (formerly Twitter) to assert that Binance demands 15% of a project's token supply as a listing fee. He cited an unnamed tier-1 project that raised nearly a billion dollars, claiming that the exchange's listing offer required a payment of between $50 million and $100 million.

• Due Diligence Concerns: Dedic also mentioned that this listing offer followed a lengthy due diligence process lasting over a year. This sparked discussions about the potential negative impact of such demands on projects seeking to list on the exchange.

Yi He's Clarification

In response to these claims, Yi He clarified that Binance prioritizes rigorous screening processes for asset listings over financial contributions.

“If a project does not pass the screening process, it cannot be listed on Binance regardless of the amount of money or tokens involved,” Yi stated.

She dismissed the allegations as fear, uncertainty, and doubt (FUD) and encouraged community members to conduct their own research regarding Binance's listing practices.

• Transparent Policies: Yi highlighted that the exchange's listing fees and token distribution policies are well-documented, aimed at protecting both projects and users.

Support from Binance Backers

A supporter of Binance reiterated that the purpose of listing fees is to prevent "worthless" tokens from reaching investors. This reinforces the notion that the exchange's stringent listing criteria are essential for maintaining a trustworthy trading environment.

Coinbase's Position in the Debate

Coinbase CEO Brian Armstrong weighed in on the discussion by promoting the Coinbase Asset Hub, claiming that projects can list on Coinbase at no cost. This statement prompted a rebuttal from Sonic Labs co-founder Andre Cronje, who alleged that Coinbase had requested substantial sums for listings, in stark contrast to Binance’s practices.

• Justin Sun's Experience: Tron’s Justin Sun also supported Cronje's claims, stating that Coinbase demanded significant deposits to enhance performance metrics, while Binance did not charge for similar services.

The ongoing debate around listing fees and asset policies underscores the competitive landscape between cryptocurrency exchanges and the importance of transparency in their operations.