Nov 4, 01:20 PM

Binance and Coinbase Face Allegations Over $330M Fees and 15% Token Supply

Recent allegations have surfaced regarding the listing fees charged by major cryptocurrency exchanges Binance and Coinbase. Moonrock Capital CEO Simon claimed that Binance required 15% of a project's total token supply for listing, a claim refuted by Binance co-founder Yi He, who emphasized the exchange's transparency since 2018. In contrast, Coinbase CEO Brian Armstrong stated that Coinbase does not charge listing fees, but this was challenged by Justin Sun and Andre Cronje. Sun alleged that Coinbase demanded $80 million worth of TRX tokens, a $250 million Bitcoin deposit, and a total of $330 million in fees to list Tron. Cronje claimed listing fees could reach up to $300 million. The controversy has sparked a heated debate within the cryptocurrency community about the transparency and fairness of listing practices on these exchanges.