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Sujit Kumar
Nov 4, 2024
by Sujit Kumar

CZ and Justin Sun Address Crypto Exchange Listing Fees

Crypto Exchange Listing
In a recent exchange on X (formerly Twitter), Justin Sun, founder of Tron, discussed the listing fees charged by major exchanges, focusing on experiences with Binance and Coinbase. Sun shared his past attempts to list TRX (Tron’s native token) on both platforms, noting that while Binance listed TRX without any fees, Coinbase allegedly required a substantial fee. Sun claimed that Coinbase demanded 500 million TRX (valued at around $80 million at the time) and a $250 million BTC deposit in Coinbase Custody to improve performance.

Sun’s tweet came in response to a post by Coinbase CEO Brian Armstrong, who stated that “Asset listings on Coinbase are free.” Sun respectfully disagreed, sparking a conversation about transparency and fairness in crypto exchange practices.

CZ Supports Fee-Free Listings for Quality Projects

Binance’s former CEO, Changpeng Zhao (CZ), responded to Sun’s comments, affirming Binance’s approach to charge zero fees for listing tokens, in contrast to some reports claiming otherwise. CZ expressed his appreciation for Sun’s insights, especially since Sun runs two competing exchanges, Huobi and Poloniex. CZ emphasized that exchanges should reduce “quote attacks” in the industry and that teams should focus on strengthening their projects to secure listings without the need for hefty fees.

Industry veteran Andre Cronje, founder of Sonic Labs, also joined the conversation, tweeting that Binance charged no fees for their token listings, while Coinbase had previously asked for large sums ranging from $30 million to $300 million.

This discussion highlights the contrasting policies of crypto exchanges regarding listing fees and raises questions about fairness and transparency for projects seeking exposure on major platforms.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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CZ and Justin Sun Address Crypto Exchange Listing Fees
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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