Binance CEO Rejects Listing Fee Criticism

The Chief Executive Officer of Binance, Changpeng Zhao, also known as CZ, has refused and redirected criticism aimed at him and the exchange after their listing fees on the 11th of August, stating that criticizers should focus more on the quality of the listed coin instead of their fees.

Self Defense

Following several posts on Twitter, CZ took up a big issue with Christopher Franko, the founder of Expanse that has previously claimed to have been charged 400 Bitcoins, equivalent to more than $2.5M USD after listing his own alternative coin.

As a result, CZ responded by stating that the company does not post “shi*coins” whether they 400 or 4000 Bitcoin, indicating that certain cryptocurrencies were not listed on the exchange under certain listing fees based on certain conditions and requirements of which have been undisclosed.

He goes on to state that ETH, NEO, XRP, and many other cryptocurrencies have been listed without any rates attached. He then redirects the focus onto the quality of each crypto-coin, pointing to the fact that the actual problem is not the listing rates but the posters cryptocurrency itself, stressing on focusing on a better quality project in general. Following the back and forth heated comments, many users on Twitter support Franko and his claims.

Additionally, Franko posted an image of an email allegedly sent by customer service at Binance discussing the rate of listing, although Binance did dismiss the email, stating that it was falsified and not sent by them. Even after Franko continued insisting on the legitimacy of the email, CZ responded by saying that the exchange never sent out emails with fee quotations attached.

The CEO has recently revealed the latest and youngest version of the exchange, a new decentralized platform in which he predicts could completely replace the existing platform. Users on Twitter then criticized once again, stating that the rates and other issues with the way Binance conducting its operations contradicted the very fundamental aspects of decentralization.

CZ then once again pointed to the fact that listing fees were not the main concern but instead, those looking to list their coins should pay more attention to their projects.

2 years ago

Start Weekly Digest

Similar news