Coinbase and Binance’s claims to supply zero-fee listings have been known as into query by big-name gamers within the crypto {industry} who say each exchanges have charged tens of hundreds of thousands of {dollars} for listings.
Late final week, Moonrock Capital CEO Simon Dedic wrote on X (previously Twitter), a few “tier 1” crypto agency that he says, after a 12 months of “due diligence,” was instructed to pay a sum equal to fifteen% of its token provide to record on Binance. Dedic stated, “Imagine paying $50–$100 million just for a CEX listing.”
This prompted Coinbase CEO Brian Armstrong to proclaim, “Asset listings on Coinbase are free.” What adopted was an industry-wide back-and-forth concerning the legitimacy of this assertion.
Andre Cronje, Chief Know-how Officer at Sonic Labs, weighed in to level out that Binance charged his agency nothing. “Coinbase has asked us for; $300 million, $50 million, $30 million, and more recently, $60 million,” he stated.
Tron creator Justin Solar additionally stated that Binance charged him nothing. Coinbase, however, allegedly wished $80 million value of TRX and a $250 million bitcoin deposit.
Precisely the identical scenario with us.
Binance charged us $0.
Coinbase required us to pay 500 million TRX (value $80 million) and demanded a $250 million BTC deposit in Coinbase Custody to spice up their efficiency.
A number of respect. However that is merely not true. https://t.co/zBxvChHSjV
— H.E. Justin Solar🌞(hiring) (@justinsuntron) November 4, 2024
Cronje stated, “[Coinbase] can argue it isn’t a “listing fee,” however it’s an “earn fee” which nonetheless interprets into “cost to be listed.” I do know the authorized separation, however completely satisfied to submit all of the proof and let the general public resolve.”
Coinbase itemizing payment argument is likely to be about Earn program
Cronje’s stance wasn’t shared by everyone, nevertheless. Certainly, OKX’s Chief Advertising Officer known as Coinbase “honest” and “transparent,” including, “No way they charge listings ‘fees.’”
Lunar Labs co-founder Luke Youngblood additionally disagreed with Cronje and stated he is likely to be speaking about Coinbase’s Earn program, which he says is “a completely optional marketing program, and whether you participate in it has no bearing on getting listed.”
He added, “Moonwell declined Earn because the cost was high and still got listed.” He additionally initially advised Cronje might have been in contact with pretend Coinbase listings brokers as an alternative.
As for the Binance 15% payment declare, Binance co-founder and Chief Buyer Service Officer Yi He known as it FUD and stated, “If the project does not pass the screening process, no matter how much money or how many coins will not be listed.”
She additionally described Cronje’s assertion as talking “the truth through the noise.”
Coinbase’s website claims it doesn’t cost itemizing charges. Protos has reached out to Binance, Coinbase, Moonrock Capital, and Cronje for remark and can replace if we hear again.
