Changpeng Zhao ‘CZ’, the CEO of Binance, the biggest cryptocurrency exchange platform in the world in terms of trading volume, retaliated to the recent claims made against the exchange platform’s listing policy in a series of tweet on Twitter.
CZ stated that the exchange platform does not list “shitcoins” and that the people should focus more on their projects than getting listed on the biggest exchange platform.
“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!”
The accusation was made by Christoper Franko, the Co-Founder of Expanse and the CEO of Borderless Corp. Franko stated that the exchange platform demanded 400 BTC [$2.6 million] via email, which was sent by an employee at Binance for listing.
Following which, CZ claimed that the mail received by Franko was a scam mail and that it was not sent by Binance. He stated that Binance does not ask for “fees” via mail and especially not in BTC. CZ further said that a project owner who fails to recognize a scam mail should “not issue a coin”.
The CEO of Binance quotes that the complaints regarding the listing fees made against the platform hail from projects which are not listed on the exchange platform without asking for fees.
Christoper Franko responded for CZ’s retaliation on Twitter. He said:
“It’s like this, ive been in crypto since 2010. My reputation in this space is honesty.. I have an aversion to bs.. so much so that ive been quoted in forbes as being a dick head. CZ on the other hand is known for faking volume in an exchange that went to number one in 6 months.”
Franko stated that there were “countless other” people who have come forth and voiced about the huge fee charged by the exchange platform. He further stated that it is not worth paying 400 BTC to have his coin listed on the exchange platform.
According to the Co-Founder of Expanse, the exchange platform lists coins for free only if they are Chinese or in the top 10, which is listed by every cryptocurrency exchange platform. He also stated that CZ is either lying or Binance servers have been hacked or that they have a rogue employee, who sent the mail from Binance.com.
“Are they lying about their volume to steal fees from you? How does an exchange make $2BN in a bear market? Eh? He said they list some for free… yea if they are 1) Chinese or 2) in the top 10 that everyone else list for free because satoshi isnt paying a 400 btc extortion fee.”