Rumors are circulating that major crypto exchanges might be charging substantial fees for new token listings, pushing some projects to explore decentralized trading platforms as alternatives.
Allegations of Hefty Listing Fees
According to Tron founder Justin Sun, Coinbase allegedly demanded a total of $330 million in fees for listing the Tron (TRX) token. In a Nov. 4 post, Sun claimed Coinbase asked for 500 million TRX (about $80 million) plus a $250 million Bitcoin deposit held in Coinbase Custody. In contrast, Sun noted that Binance, another major exchange, did not charge any listing fee.
While Sun’s allegations are not yet backed by clear evidence, they have sparked discussions across the crypto community, as Coinbase has publicly stated it does not charge fees for listing new assets. Coinbase’s co-founder and CEO, Brian Armstrong, reiterated this stance on Nov. 2, emphasizing that “asset listings on Coinbase are free.”
Exchanges’ Influence in the Market
Binance and Coinbase rank among the most influential crypto exchanges globally, with Binance holding nearly 40% of the spot trading volume and Coinbase around 6%, according to data from CoinGecko. The possibility of high listing fees on centralized exchanges could steer new projects toward decentralized exchanges, which typically have lower or no listing fees, as they seek more cost-effective alternatives.
Summary Review:Justin Sun claims that Coinbase requested $330 million in fees to list Tron, while Binance did not charge any fees. Though unverified, the rumors have fueled concerns about high listing costs on major exchanges, potentially driving interest in decentralized trading options.
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