Originally published on: November 04, 2024
Allegations have surfaced claiming that major cryptocurrency exchanges are requesting exorbitant amounts of money for listing new tokens. Tron founder Justin Sun revealed that Coinbase demanded $330 million in total fees to list Tron (TRX). While Binance reportedly did not charge any fees, Coinbase requested 500 million TRX tokens (worth approximately $80 million) and a $250 million Bitcoin deposit for listing.
Despite Coinbase’s co-founder and CEO Brian Armstrong’s statement that asset listings are free, Sun and Fantom Network founder Andre Cronje have spoken out against the alleged hefty listing fees imposed by the exchange. Sun’s claim, although lacking evidence, has raised eyebrows in the crypto community.
Cronje, a respected figure in decentralized finance, disclosed that Coinbase proposed listing fees for Fantom ranging from $30 million to a staggering $300 million. These accusations have sparked concerns over the sustainability of centralized exchanges, with many questioning the fairness and transparency of their listing processes.
As rumors swirl about the staggering fees demanded by major exchanges, the decentralized exchange (DEX) landscape is poised to see significant growth. With DEX trading volumes on the rise, more traders and investors are considering alternative platforms that offer greater transparency and lower barriers to entry.
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