Key Takeaways:
- Alleged High Listing Fees: Tron founder Justin Sun claims Coinbase requested $330 million to list TRX, despite Coinbase’s policy stating listings are free.
- Binance vs. Coinbase Approach: While Coinbase allegedly demanded substantial fees, Binance reportedly listed TRX without any charge.
- Market Shares of Exchanges: Binance holds 39.5% of global spot trading volume, whereas Coinbase ranks sixth with around 6.1% market share.
Rumors of high listing fees by major cryptocurrency exchanges are sparking concerns within the crypto community.
Justin Sun, the founder of Tron, claimed that Coinbase requested a staggering $330 million to list TRX, Tron’s token, on its platform.
Exactly the same situation with us.
— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 4, 2024
Binance charged us $0.
Coinbase required us to pay 500 million TRX (worth $80 million) and demanded a $250 million BTC deposit in Coinbase Custody to boost their performance.
Lots of respect. But this is simply not true.
Sun alleged that this amount included a $250 million Bitcoin deposit to be held in Coinbase Custody and an $80 million deposit of TRX.
However, Sun didn’t provide evidence for these claims.
Coinbase CEO Brian Armstrong responded, stating that Coinbase does not charge for token listings, reaffirming that asset listings are free.
Asset listings on Coinbase are free – drop us a note through our Asset Hub and we'll see if we can helphttps://t.co/Weoa8MhLeq
— Brian Armstrong (@brian_armstrong) November 2, 2024
And yes, DEXes are also a great option (which we support in our products). https://t.co/cjp0Avu4uC
In contrast, Binance, the largest exchange by market share, reportedly listed TRX without a fee.
These allegations highlight the growing tension between centralized exchanges like Binance and Coinbase and the increasing appeal of decentralized platforms, which offer listing opportunities without prohibitive fees.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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