Originally published on: November 03, 2024
Binance, one of the leading cryptocurrency exchanges, recently found itself at the center of controversy after claims from the CEO of Moonrock Capital suggested that the exchange demanded a large percentage of a project’s token supply for listing. In response, Binance’s co-founder Yi He clarified the situation and shed light on the exchange’s listing policies.
According to He, Binance does not charge new projects a percentage of their token supply or a fixed amount for listing. Since 2018, Binance has maintained a transparent listing policy where all fees are disclosed, and 100% of the proceeds are donated to charity. This move aims to promote transparency and support charitable causes within the crypto community.
The claims made by the Moonrock CEO sparked a broader debate about listing fees on centralized exchanges, with industry figures like Sonic co-founder Andre Cronje weighing in and making similar accusations against Coinbase. The discussion highlights the need for more transparency and fairness in the listing process across various exchanges.
Amidst this debate, centralized exchanges have seen a decline in trading volume, attributed to factors like geopolitical tensions, investor uncertainty, and the rise of decentralized exchanges. Despite these challenges, Binance recently announced the listing of Scroll, an Ethereum layer-2 scaling solution, which received mixed reactions from the crypto community.
Critics argue that listings on centralized exchanges may compromise the decentralized ethos of certain projects, further fueling the debate around listing fees and token supply demands. As the industry continues to evolve, transparency and fair practices will be crucial in shaping the future of asset listings on exchanges.
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