Cryptocurrency exchange Binance has recently been accused by Moonrock Capital CEO Simon Dedic of charging project parties high listing fees, claiming that Binance requires projects to provide 15% of the total token supply as a listing fee. In response, Binance co-founder He Yi clarified that if a project does not pass the screening process, no matter how much money or what percentage of tokens they offer, they cannot be listed on Binance.
(Previous context:
He Yi shares Binance’s 3 core values, calling on Wall Street to set aside prejudices and embrace cryptocurrency)
(Background:
CZ and Binance’s best relationship: mutual success even after unbinding)
Andre Cronje reveals: Binance listing is free, Coinbase charges high fees
He Yi responds to listing controversy
Binance’s listing strategy draws attention
Simon Dedic, CEO of the cryptocurrency risk investment company Moonrock Capital, recently tweeted, revealing that he had been in talks with a project that had raised nearly a billion dollars. After more than a year of due diligence with Binance, they finally received a listing offer, but Binance requested the project to provide 15% of the total token supply as a listing fee.
In response, Coinbase CEO Brian Armstrong took the opportunity to promote his own platform, stating:
However, Andre Cronje, Director of the Fantom Foundation and CTO of Sonic Labs, known as the father of DeFi, directly criticized Coinbase:
Andre Cronje added that since he did not sign a non-disclosure agreement, he is very willing to provide evidence of Coinbase’s fees. Coinbase may argue that they are not related to listing fees, but are other fees. However, this will still translate into listing costs for projects. He knows that Coinbase may make some legal cuts, but he is willing to disclose all evidence and let the public judge.
After Andre Cronje spoke up for Binance, Binance co-founder He Yi also responded to FUD, emphasizing the transparency of Binance’s airdrop rules.
However, Simon Dedic seemed unconvinced by He Yi’s statement, replying:
Throughout this year, there have been ongoing criticisms of Binance’s listing strategy, and Binance has responded publicly on multiple occasions.
In June of this year, KOL @Aunt_ww criticized Binance for violating the fairness spirit of cryptocurrency, frequently listing VC project tokens with inflated prices and valuations, diluting market liquidity and ultimately causing retail investors to become the bag holders for VCs. At that time, He Yi responded that even if Binance does not list these VC tokens, market funds will still be diverted to meme coins, ponzi schemes, ETFs, and other projects.
In September of this year, He Yi once again responded to the community’s doubts about Binance’s listing strategy this year, stating that Binance’s listings are composed of four stages: business, research team, committee, and compliance review. Binance lists projects that have users, traffic, longevity, and solid business logic.
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