- Moonrock Capital CEO Simon Dedic claimed that Binance charged fees for listing.
- Andre Cronje and Justin Sun supported Binance, adding that it didn’t charge fees.
- Sun and Cronje revealed that Coinbase charged them for listing their projects.
The crypto twitter is debating asset listing fees charged by leading cryptocurrency exchanges Binance and Coinbase. Crypto entrepreneurs Andre Cronje and Tron Founder Justin Sun weighed in by sharing their own personal experiences.
Last week, Moonrock Capital CEO Simon Dedic said he spoke with representatives from a Tier 1 blockchain protocol that raised over $100 million in funding. Dedic said Binance made the project wait over a year for listing and then asked for 15% of their total token supply as listing fees.
Dedic said the biggest reason for the current market downturn is centralized exchanges like Binance asking for $50 million-$100 million to list projects. Coinbase CEO Brian Armstrong took to X to promote his exchange, which he said does not charge listing fees.
However, Cronje, the founder of yearn.finance and the CTO at Fantom Foundation, said Binance charged him $0 while Coinbase asked for $300 million, $50 million, $30 million, and more recently $60 million to list his projects.
Sun agreed, adding that Binance charged him $0 while Coinbase required the Tron ecosystem to pay 500 million TRX (worth $80 million) and demanded a $250 million BTC deposit in Coinbase Custody to boost its performance. This appears to be a factual error by the writer. Sun actually stated that Coinbase required a $250 million BTC deposit in Coinbase Custody to boost Coinbase’s performance.
The Community Weighs In
Self-proclaimed “exchange maximalist” and Bybit user “Flood” said on X that projects want to list on major exchanges with billions in trading volume like Binance and Coinbase so the founders can “sell their worthless token loosely associated with a company.” This makes the founders wealthy, but retail investors don’t make money.
Read also: Tron Founder Slams Coinbase’s cbBTC, Warns DeFi of Risks
Flood added that Binance does not like such projects and “wants to protect the lifetime value of their accounts from inflationary vapor.” As a result, the exchange demands listing fees and gives the tokens away via the Binance Launchpad in the form of BNB tokens.
Dedic predicted that DEXs will take over the digital asset space soon, and CEXs will lose dominance.
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