Binance is becoming more important for alts than all other exchanges combined, says Michael Arrington

Binance, one of the largest cryptocurrency exchanges in the world, has become one of the most talked about exchanges in the space due to the announcements pertaining to its development. The exchange was also in the limelight when Bitwise’s report to the United States Securities and Exchanges Commission listed the platform among those exchanges with real volume. More so, Binance Launchpad has become one of the most important platforms for cryptocurrency projects that are looking to raise funds.

Notably, Michael Arrington, the Founder of TechCrunch and Partner at Arrington Capital, spoke about the exchange’s growth on Twitter. Arrington stated,

“With the exception of Korea, binance is becoming more important for alts than all other exchanges combined. Great for bnb holders like us, but bad for the market overall. People need to step up their game.”

This was followed by Arrington stating that the exchange had to “be careful about anticompetitive moves” such as “forcing binance chain” as one of the requirements for listing a token on the exchange. He added that Binance Chain would have to “compete on its own merits.”

These remarks made by one of the well-known influencers in the space grabbed the attention of Changpeng Zhao, the co-founder and CEO of Binance. To Arrington’s initial comment, CZ stated,

“Nah, there are lots of coins we don’t list, yet. We don’t compete to list a coin first, we like to see them grow a bit on other exchanges first.”

This aside, Arrington also commented on Justin Sun, the Founder of Tron Foundation. He stated,

“The canary in the coal mine for U.S. crypto regulation is @justinsuntron. He currently resides as a free man in San Francisco, as he should. If/when he either flees the country or is arrested, we will know the U.S. isn’t messing around any more with crypto. It’ll be war, then.”

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