Key Points
- Binance’s founder, Changpeng Zhao, has addressed criticisms about the exchange’s listing practices.
- Zhao argues that strong crypto projects don’t need to pay for listings and should focus on building user value.
Changpeng Zhao, the founder of Binance, has recently shared his thoughts on exchange listing practices. His comments come amid a heated debate about listing fees and airdrops.
A recent post from CJ Tech criticized Binance’s listing process, sparking a discussion in the crypto community.
Zhao’s Stance on Listing Fees
Zhao believes that if a crypto project is strong, it doesn’t need to pay for listings. He argues that exchanges will naturally compete to list valuable tokens.
He further suggests that projects complaining about listing fees or airdrops should concentrate on creating genuine user value.
Binance has faced criticism for high trading fees, airdrop charges, and a $2 million BNB security deposit. These criticisms were amplified when the exchange struggled to handle transaction volume during a recent crypto market crash.
Zhao maintains that in a decentralized world, exchanges are free to choose their own business models. He emphasizes that businesses should focus on serving users rather than criticizing competitors.
Listing Models and Binance’s Response
Zhao outlined several listing models used by exchanges, from open listings that include almost all tokens, to selective listings that charge fees or require user airdrops or security deposits. He noted that many platforms use a combination of these approaches across spot, futures, and Web3 products.
In response to recent allegations, Binance clarified that it doesn’t profit from its listing process. The exchange labeled these charges as attempts to mislead the community and challenge the platform’s integrity.
Binance also refuted allegations claiming that the exchange and its founders have been dumping tokens, calling them “entirely untrue and unsubstantiated.” The company expressed surprise over CJ’s disclosure of confidential communication, which they deemed “illegal and unauthorized.”
