tl;dr
The cryptocurrency community is embroiled in controversy over allegations of high demands for listings on centralized exchanges (CEXs) like Binance and Coinbase. Industry leaders and community members are debating the power wielded by CEXs in determining the fate of new projects and tokens. The deba...
Allegations of high demands for CEX listings
The cryptocurrency community is embroiled in controversy over allegations of high demands for listings on centralized exchanges (CEXs) like Binance and Coinbase. Industry leaders and community members are debating the power wielded by CEXs in determining the fate of new projects and tokens. The debate has sparked discussions on the growing divide between centralized and decentralized exchanges. Allegations include substantial fees for listings, with industry figures like Justin Sun and Brian Armstrong weighing in. As community frustration grows, there are calls for increased transparency from CEXs and a potential shift towards decentralized alternatives.
Justin Sun speaks amid growing community frustration
Adding to the debate, TRON founder Justin Sun weighed in, sharing his experiences with both exchanges. Sun stated that while Binance did not charge TRON any listing fees, Coinbase required an $80 million deposit in TRX and a $250 million BTC deposit in Coinbase Custody. Sun also suggested that such demands are excessive, adding another layer to the debate on whether listing fees are justified for projects of different sizes. The controversy has sparked a wave of community reactions, many voicing disillusionment with CEX practices.
Binance leadership defends policies
Binance’s former CEO Changpeng Zhao (CZ) also responded to the backlash, urging the industry to move away from “quote attacks.” CZ asserted that Bitcoin, the most prominent digital asset, never paid listing fees, advising projects to focus on their development rather than exchange listings. Justin Sun echoed the sentiment. Similarly, Binance’s co-founder Yi He added that Binance’s listing processes are transparent and based on project merit. She encouraged the public to “do your own research” (DYOR) and dismissed the allegations as “gossip,” explaining that high token allocations for airdrops or promotions do not guarantee listings. As accusations and rebuttals circulate, the role of decentralized exchanges (DEXs) is coming into sharper focus.