Binance denies exploiting crypto projects.
rival cryptocurrency exchanges exploit revenue windfalls.
Arthur Hayes suggested an alternative strategy for new projects.
listing on a prestigious exchange is often considered a landmark moment for crypto projects, and listing on #Binance is the pinnacle. However, the crypto community has recently claimed that Binance charges high listing fees, and co-founder Yi He has refuted the allegation.
In response to the controversy, rival exchanges #Coinbase and #Gemini have come out in favor of a fairer listing policy. As the drama around listing fees unfolds, the contrasting approaches of the major centralized exchanges (CEX) are fueling a broader debate about transparency and fair access in the industry.
While Binance faces accusations of charging exorbitant listing fees, Coinbase and Gemini are positioning themselves as fairer alternative exchanges.
Coinbase CEO Brian Armstrong announced that listing assets on his exchange will be free, suggesting that projects will apply directly. He also noted that Coinbase supports projects and allows them to list on decentralized exchanges.
Eric Kuhn, head of On-Chain at Gemini, confirmed that the company does not charge projects for listing and outlined future measures to make the listing process transparent.
Simon Dedic, CEO of Moonrock Capital, ignited the discussion last week when he said a project informed him that Binance was demanding 15 percent of token volume (worth up to $100 million) in exchange for listing. According to Dedic, the project went through more than a year of vetting before Binance finally made an offer.
In response to the backlash, she dismissed the accusations against Binance as FUD and said there is no fixed listing fee on the platform. She emphasized that Binance uses a rigorous vetting process to ensure that projects can't simply buy their way onto the exchange.
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