Binance Co-Founder Yi He dismissed recent allegations that Binance demands 20% of token supply or $100 million worth of tokens to list projects, labeling the claims as unfounded “FUD” (fear, uncertainty, doubt). She emphasized that Binance’s listing process is rigorous and independent, requiring projects to pass a screening process without any influence from financial offers or token allocations.
Recently Binance, known for its secure and responsive trading platform, faced scrutiny after Moonrock Capital CEO Simon claimed that Binance requested 20% of a project’s token supply after one year of due diligence—a demand he noted would be challenging for most crypto projects to afford.
https://t.co/RHKkIVLCPT
Moonrock Capital CEO Raises a Serious Question About #Binance’s Hidden Token Listing Requirement— Bitcoinik (@Bitcoinikdotcom) November 3, 2024
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Yi He responded to these allegations on X (formerly Twitter), reiterating that Binance’s token distribution and airdrop rules are transparent. She urged users to review the token distribution for projects listed on Binance, noting that Launchpool and airdrop guidelines do not allow token incentives to influence listing decisions.
Acknowledging the persistent presence of FUD, Yi He remarked that such speculation ultimately strengthens Binance. She stressed the importance of critical, independent thinking in navigating industry rumors and praised figures like Andre Cronje for speaking candidly and constructively within the crypto community.
Meanwhile, Binance’s current CEO Richard Teng has yet to comment on this controversy, prompting some in the crypto community to compare his approach unfavorably to former CEO Changpeng Zhao (CZ), who often engaged publicly and directly with critics to clarify Binance’s policies.
BNB price action
The current trade price of BNB, natively supported Cryptocurrency on Binance crypto exchange, is $556 & this price level is 5.5% down over the last 7 days period.
Read also: Moonrock Capital CEO Raises a Serious Question About Binance’s Hidden Token Listing Requirement
https://bitcoinik.com/binance-co-founder-responds-to-allegations-of-100-million-token-listing-demand-asserting-transparent-policies/feed/
https://bitcoinik.com/binance-co-founder-responds-to-allegations-of-100-million-token-listing-demand-asserting-transparent-policies/feed/
