Binance Founder Responds To $100M Listing Fee Controversy

Binance Founder Issues Statement on Listing Fee Accusations

The founder and CEO of Binance, Changpeng Zhao (CZ), has publicly addressed the controversy surrounding the alleged $100 million listing fee for tokens. Binance has been accused of charging exorbitant fees to list new tokens on the exchange, with some claiming that these fees are used to manipulate the market.

In his statement, CZ denied these accusations, stating that Binance does not charge any listing fees for new tokens. He explained that projects are required to complete a rigorous screening process and pay a listing application fee, which is used to cover the costs associated with due diligence and regulatory compliance.

Binance Listing Process and Fees

Listing Application Fee

All projects seeking to list on Binance must submit a listing application and pay a non-refundable fee. This fee covers the costs of the due diligence process, which includes a thorough review of the project's team, technology, and financials.

Due Diligence and Regulatory Compliance Costs

Binance has a large team of experts who perform extensive due diligence on all projects seeking to list on the exchange. This involves verifying the identities of team members, reviewing the project's whitepaper and code, and checking for any potential regulatory concerns.

Binance's Commitment to Transparency and Fairness

CZ emphasized Binance's commitment to transparency and fairness in its listing process. He stated that the exchange has a strict policy against any form of bribes or payments in exchange for listings.

Binance also regularly publishes a list of all projects that have applied for listing, along with their application status. This helps to ensure that the listing process is transparent and that all projects are treated equitably.

Conclusion

In his statement, CZ reiterated that Binance does not charge any listing fees for new tokens. The exchange's listing process is designed to ensure that only high-quality projects with strong fundamentals are listed on the platform. Binance remains committed to transparency and fairness in its listing process, and will continue to work to protect the interests of its users.