Categories: MarketsMenafn

Coinbase, Binance, and TRON Clash on X Over Listing Fees Dispute

TRON founder Justin Sun has publicly accused Coinbase of charging exorbitant fees to list his token, TRX, directly countering Coinbase’s claim that listings are free. Sun’s post on X alleged that the firm requested a staggering $330 million in total fees, including $80 million in TRX tokens and a $250 million Bitcoin deposit in Coinbase Custody. 

The post quickly gained traction, prompting responses from other prominent figures in the cryptocurrency world. Coinbase’s co-founder Brian Armstrong, who had earlier denied charging fees on X, left no room for interpretation regarding the centralized exchange platform’s listing policies

A Growing Debate: Sun, Armstrong, and Cronje Weigh In

Discussion centered on the brief exchange intensified when Andre Cronje, founder of the Fantom Network, added his own experience with Coinbase to the conversation. Cronje claimed that his team had encountered listing fees as high as $300 million, echoing Sun’s accusations and raising questions about the exchange’s transparency.

Binance’s co-founder Yi He, on the other hand, defended the company’s policy, emphasizing that all listing fees are “transparent” and go directly to charity. Binance maintains that it screens projects but refrains from charging any fixed amounts or tokens, in stark contrast to Coinbase’s alleged practices.

Crypto Giants on X: Transparency or Tensions?

Sun’s allegations come amid Coinbase’s attempt to maintain its reputation as a fee-free listing platform. Sun’s perspective paints a different picture, especially when viewed alongside Fantom’s similar experience. Despite the lack of concrete evidence provided by Sun, the claims expose potential tensions among exchanges and the cost of participation for new projects.

Amidst these disputes, Binance’s CEO, Changpeng Zhao (CZ), supported Sun’s stance, urging crypto leaders to avoid “quote attacks” and keep industry conversations transparent. CZ expressed gratitude to Sun for his support, signaling the alignment between Binance and TRON against Coinbase’s alleged practices.

What This Means for Crypto Market Access

As more crypto industry figures weigh in on the discussion, the allegations prompt concerns about access to exchanges for smaller projects that might not afford such fees. With Coinbase and Binance representing two of the world’s largest cryptocurrency exchanges, these disputes over listing fees could reveal barriers for smaller tokens aiming for exposure on leading platforms.

Binance, controlling nearly 40% of global spot crypto trading, remains a go-to platform for emerging projects. Coinbase, with about 6% market share, still holds sway but faces scrutiny as major founders raise concerns. As the debate continues, industry leaders and token creators alike may seek greater transparency on listing costs across major exchanges.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

MARA Holdings Raises $1 Billion via Senior Note Offering to Buy Bitcoin

Marathon Holdings, a Nasdaq-listed cryptocurrency mining and blockchain technology firm, has raised $1 billion through…

45 mins ago

OAI is Influencing Operations in Many Industries with Its Mini PC Solutions

OAI is changing the nature of operations with its powerful mini PC solutions, improving productivity…

3 hours ago

Cardano’s ADA Price Rises Above $0.80 Despite Broader Market Slump: How High Can ADA Go?

Cardano’s native token (ADA) has performed well despite the downturn in the broader crypto market.…

13 hours ago

Cornerstone Wealth Management Expands Services, Offering Tax, Medicare, & Estate Planning for Retirement Solutions

Henderson, NV – Cornerstone Wealth Management is thrilled to announce the expansion of its suite…

13 hours ago

Cornerstone Wealth Management Debuts “The Cornerstone Retirement Blueprint” TV Show to Help Retirees Tackle Financial Challenges

Henderson, NV – Cornerstone Wealth Management is excited to announce the premiere of its new…

13 hours ago

MicroStrategy’s Bitcoin Premium Surges as MSTR’s Market Cap Tops $100 Billion

The total market capitalization of the Nasdaq-listed business intelligence firm MicroStrategy, the largest corporate holder…

1 day ago