Tron Community founder Justin Solar and Sonic Labs co-founder Andre Cronje have disputed Coinbase CEO Brian Armstrong‘s declare that the US-based buying and selling platform offers free asset listings.
On Nov. 4, Solar revealed that Coinbase allegedly demanded a fee of 500 million TRX, valued at round $80 million, for itemizing TRX, Tron’s native token. Nonetheless, he highlighted that Binance, in distinction, didn’t cost something for itemizing the asset.
Moreover, he acknowledged that Coinbase requested a $250 million Bitcoin deposit into Coinbase Custody, reportedly to spice up liquidity. Solar clarified that, whereas he respects Coinbase, its itemizing course of is just not with out important prices.
Solar’s claims supported Cronje, who first shared that Coinbase had approached his group with a number of itemizing price requests ranging between $30 million and $300 million.
Cronje acknowledged:
“Binance charged us $0. Coinbase has requested us for; $300m, $50m, $30m, and extra not too long ago $60m. A number of respect. However that is merely not true.”
Neighborhood defends Coinbase
Solar and Cronje’s claims prompted crypto neighborhood members to rally to defend Coinbase.
Greg Osuri, founding father of Akash Community, acknowledged that Coinbase didn’t cost any charges for itemizing his challenge. Equally, Haider Rafique, the Chief Market Officer at OKX, supported Coinbase’s transparency, saying it doesn’t impose itemizing charges.
Moonwell DeFi contributor Luke Youngblood added his perspective, explaining that Coinbase often runs instructional campaigns by way of its Earn platform, which can contain advertising prices.
He clarified that this price may very well be misconstrued as a list cost, significantly since non-US exchanges usually ask for a “advertising price range” that resembles a list price. Youngblood acknowledged:
“I can see how Andre might need made an trustworthy mistake assuming a Coinbase Earn marketing campaign was required for a list. It’s positively not required and is a very totally different a part of Coinbase that’s unrelated to listings.
In different phrases, whether or not you sponsor an Earn marketing campaign has no relation to your capability to get a Coinbase itemizing.”
Binance alleged itemizing price
These discussions emerged over the weekend after crypto neighborhood members mentioned itemizing charges on main crypto buying and selling platforms like Binance.
On Oct. 31, Moonrock Capital CEO Simon Dedic alleged that Binance requested for 15% of a challenge’s complete token provide, probably amounting to $50 million to $100 million for some initiatives. He argued that such excessive prices negatively influence market stability and liquidity, particularly for rising initiatives.
Binance co-founder He Yi swiftly dismissed Dedic’s declare as unfounded and FUD. She defined that whereas some initiatives would possibly supply funds or token shares, they nonetheless should meet Binance’s rigorous itemizing necessities.
Yi acknowledged that Binance doesn’t robotically listing tokens, even when they supply an airdrop or categorical curiosity in partnering by way of Binance’s Web3 pockets.
She added:
“FUD won’t ever go away, but it surely makes us stronger. Gossip is simple to get visitors, and enterprise competitors is at all times stuffed with darkish sides; Once you perceive the foundations of how the world works, you’ll now not be simply swayed by rumors, and you’ll have the flexibility to assume independently.”
