Scroll

Sonic

Binance co-founder Yi He denied claims made in a debate on X that the exchange had demanded tokens for listings and clarified its policies.
The debate was sparked by the CEO of Moonrock Capital — a crypto-native advisory and investment firm — who posted that Binance demanded 15% of an unidentified project’s token supply to secure a listing on the centralized exchange.
The Binance co-founder <a data-ct-non-breakable="null" href="https://x.com/heyibinance/status/1853089492808384669" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/heyibinance/status/1853089492808384669">posted</a> on X that the company screens projects for listings, but it does not charge a percentage of their tokens or a fixed amount.
 Since 2018, Binance’s listing <a data-ct-non-breakable="null" href="https://www.binance.com/en/support/announcement/binance-listing-fee-update-360017664751" rel="null" target="null" text="null" title="null">policy</a> stipulates that all listing fees will be “transparent,” and 100% of the fees are donated to charity. That policy states:
<blockquote>
 "Project teams will still propose the number they would like to provide for a 'listing fee,' or now more appropriately called a 'donation.' Binance will not dictate a number, nor is there a minimum required listing fee."
</blockquote>
The Moonrock CEO’s post set off a debate about the listing fee policies of centralized exchanges — prompting Sonic co-founder and developer Andre Cronje to <a data-ct-non-breakable="null" href="https://x.com/AndreCronjeTech/status/1853035845999018291" rel="null" target="null" text="null" title="null">join</a> in and make similar accusations about Coinbase.
<figure>
 <img alt="Cryptocurrency Exchange, Binance" src="https://s3.cointelegraph.com/uploads/2024-11/0192f330-fcd9-70e6-b974-430b5b6329ee" title="">
 <figcaption style="text-align: center;">
 The claims made by the Moonrock CEO. Source: <a data-ct-non-breakable="null" href="https://x.com/sjdedic/status/1852049944380932142" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/sjdedic/status/1852049944380932142">Simon</a>
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-founder-cz-sees-positive-crypto-regulation-shift" rel="null" target="null" text="null" title="null">Binance founder CZ sees positive shift in crypto regulation worldwide</a>
<h2 id="centralized-exchanges-losing-ground-to-decentralized-alternatives">Centralized exchanges losing ground to decentralized alternatives</h2>
In September 2024, centralized exchanges recorded a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trading-binance-cexs-crypto" rel="null" target="null" text="null" title="null">significant downturn in trading volume</a>.&nbsp;According to CCData, spot trading volume for Binance declined by 23%, and other major exchanges, including OKX, HTX, Coinbase, Kraken and Bybit experienced dips between 20-30%.
Explanations for the decline in trading volume included growing geopolitical tensions, investor uncertainty due to the upcoming 2024 US elections and the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-crypto-com-lose-ground-dex-rise" rel="null" target="null" text="null" title="null">rise of trading volume on decentralized exchanges</a>.
Binance announced the listing of Scroll — an Ethereum layer-2 scaling solution — on Oct. 11. 
The decision by the project to list on Binance drew criticism from the crypto community, which characterized the listing as <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/scroll-binance-listing-centralization-debate" rel="null" target="null" text="null" title="null">threatening the decentralized ethos of Scroll</a>.
Following the listing announcement, user Zeng Jiajun asked the community to “Imagine Vitalik Buterin paying 5.5% to OKX” to list Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) on the exchange — a rhetorical argument against centralized exchanges demanding high listing fees or a percentage of a prospective project’s total token supply for the privilege of listing new digital assets.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-market-makers-legit-dodgy-fake-it/" rel="null" target="null" text="null" title="null">What do crypto market makers actually do? Liquidity, or manipulation</a>

Binance co-founder clarifies asset listing policies, dispels FUD

Table of Contents

Cointelegraph

Other articles published on Nov 3, 2024

Watch Out: 5 Altcoins in South Korea See Trading Volume Boom – Here’s the List

Bitcoin: What China Has Just Admitted About Satoshi Nakamoto

These 3 AI altcoins have the potential tourn $500 into $50k

$500 investment today could mean $50k tomorrow – 5 altcoins set for the bull run

PEPE Predicted to 10x, But DOGEN’s Potential Captures the Memecoin Market’s Attention With 10,000...

Imminent Bull Market Set to Spark: 5 Altcoins to Buy Now for Massive Returns Over the Next 90 Days

Join our free newsletter for daily crypto updates!