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Binance CEO Zhao clarifies they don’t charge 400 Bitcoin For Listing

It is officially stated by the CEO of Binance, Changpeng Zhao that to list cryptocurrencies on its platform, the company does not charge 400 bitcoin which sums up to $2.5 million.

Blame against Binance

Christopher Franko made a claim in early August 2018 that the world’s largest cryptocurrency exchange platform Binance charges the cryptocurrencies a listing fee of 400 BTC for integrating them into their platform. This claim was supported by a screenshot of an email that Franko cited to be of the address oyyq@binance.com. This mail said that to list his blockchain project Expanse on the exchange, it would cost him 400 bitcoin.

Response by Zhao

In a response to the controversy, Zhao released an official statement that denied all the claims made by Franco. He said that without the conduction of due diligence and without passing through a strenuous verification process, the exchange does not list cryptocurrencies for any amount. Changpeng released a statement that read,

“We don’t list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not ‘how much does Binance charge to list?’ but ‘is my coin good enough?’ It’s not the fee, it’s your project! Focus on your own project! Also, the email Franko showed is a spoofed/scam email, not from Binance. Binance never quotes fees in email, and not in BTC. Project owners should be able to spot email spoofing, those who can’t should not issue a coin. The communication process/method tells a lot about a coin.”


Read more: Binance Expands Into Crypto Loans with Former PayPal Fintech Veterans

The CEO stated that without checking the legitimacy of the cryptocurrency, Binance does not accept listing fees for the integration of any cryptocurrency because it understands that for the security measures of the users, this step is important. Crypto companies must have to pay a significant amount of capital to featured on cryptocurrency exchange. However, as Zhao quoted, that shouldn’t be the sole parameter for getting listed on cryptocurrency exchanges.

 

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