Binance co-founder clarifies asset listing policies and removes FUD

Binance co-founder Yi He has addressed the recent speculation about trading fees on the platform, assuring the community that it operates with transparent policies.

The address was in response to Moonrock Capital CEO Simon Dedic’s allegations about the expensive listing fees on Binance.

Binance accused of charging exorbitant fees for cryptocurrency listing

On October 31, Dedic addressed X with a claim that Binance demanded 15% of a project’s token supply for a listing. He used the example of an unnamed Tier 1 project that raised nearly a billion, with the crypto exchange giving them a listing offering that included parting with $50-100 million for the service.

In addition, Dedic stated that the tender offer came at the end of a due diligence process of more than a year. This claim sparked debate, with some observers such as Mat Milbury arguing that such demands can harm projects rather than benefit them.

However, Binance supporters countered these criticisms, with co-founder Yi clarifying that the exchange’s asset listing processes prioritize rigorous screening over funds associated with a project, regardless of amount:

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

Dismissing the outcry as fear-mongering, or what is commonly known in crypto circles as FUD, short for fear, uncertainty and doubt, Yi asked community members to do their own research and analyze the Binance listings by themselves to see if there really was a problem. 20% requirement for tokens as alleged by Dedic.

He also noted that his company’s trading fees and token distribution policies are clearly documented, with the goal of protecting both projects and platform users.

Another backer of the exchange reiterated this point, suggesting that the listing fees on Binance are intended to prevent “useless” tokens from reaching unsuspecting investors. This implies that comprehensive crypto platform listing criteria are key to maintaining a trusted environment.

What about Coinbase?

Coinbase CEO Brian Armstrong contributed to the debate by promoting the Coinbase Asset Hub, stating that projects can be listed on the platform at no cost.

This prompted a response from Sonic Labs co-founder Andre Cronje, who disputed Armstrong’s claim. The founder of the series claimed that unlike Binance, which did not charge anything from its projects for the listing, Coinbase had allegedly asked them for large sums, such as $300 million, $50 million, $30 million dollars and most recently $60 million.

Tron’s Justin Sun also added his voice to the speech, reinforcing Cronje’s statement. The newly minted prime minister of the self-proclaimed micronation of Liberland shared a similar experience with Coinbase, claiming it demanded deposits of Bitcoin (BTC) and TRX worth $250 million and $80 million, respectively, to increase your performance metrics. Instead, Sun claimed that Binance did not charge them anything for the same service.

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