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Binance CEO Denies Rumors That the Exchange Charges 400 BTC per Listing

bitcoin social trading

Bitcoin BTC on stack of cryptocurrencies with Binance exchange logo in background. The cryptocurrency coin is golden and in focus. Copenhagen / Denmark - 07 12 2018. Source; shutterstock.com

Popular cryptocurrency exchange Binance has found itself in the middle of a storm. A new controversy regarding the listing quote of projects on its exchange is doing the rounds in the Twitter crypto circles. CEO of Binance Changpeng Zhao has now offered an explanation, suggesting that the exchange lists coins on the basis of the quality of projects, and not a large listing price.

A Listing Price of 400 BTC?

The controversy began when the CEO of Expanse, Christopher Franko, tweeted that he had been provided with an exorbitant listing quote for Binance of 400 Bitcoins (approximately $2.5 million).

He then made a poll and asked other projects if they were ready to pay this price to get listed on Binance. The exchange sees $1 billion of daily trading volume. In the poll, 14 percent respondents said “yes,” 37 percent said “no” and 49 percent responded with a “lol.”

Zhao Responds With a Tweetstorm

Although the CEO of Binance replied two days late, he launched a tweetstorm explaining what happened.

That was followed by another tweet.

According to him, projects that don’t get listed often complain.

He ended his tweet by saying he’s no longer that involved in the listing process.

After tweeting, Zhao blocked Franko on Twitter, but he didn’t deter from his story. On the other hand, Franko insisted in his tweets that the email he was talking about was sent by binance.com. He also shared the screenshot as proof. He said that either Zhao is lying or someone hacked into his company’s accounts.

The credibility of the story is still a matter of debate. However, Binance’s listing process has always been kept behind closed doors, and the exchange doesn’t have any standardized method or transparency in the listing. Some Twitter users also pointed this out. The Binance team remains silent on this issue.

Binance CEO Denies Rumors That the Exchange Charges 400 BTC per Listing was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.