$80M Listing Fee on Coinbase, None on Binance

Tron’s Founder, Justin Sun is the latest to join the listing fee war between crypto exchanges, Coinbase and Binance. Sun shared that Coinbase had asked for 500 million TRX (worth $80 million) and deposit of $250 million in Bitcoin in Coinbase Custody but Binance did not charge a listing fee.

Justin Sun shared Coinbase’ Brian Armstrong post on X about ‘free listing’, along with his claims and added that the Bitcoin in Coinbase Custody was apparently “to boost their performance”. He further refuted Armstrong’s claim by adding, “Lots of respect. But this is simply not true”.

Crypto Twitter is abuzz with discussions on Coinbase’s listing fee. The controversial debate on listing fees for Coinbase and Binance began when Simon, the CEO of Moonrock Capital first wrote that a Tier 1 project that raised close to nine figures, received a listing offer of 15% of their total token supply after wasting over a year of due diligence with Binance.

I recently spoke with a Tier 1 project that raised close to nine figures.

After wasting over a year of due diligence with Binance, they finally received a listing offer.

Binance asked for 15% of their total token supply.

Imagine paying $50–$100M just for a CEX listing.

Not…

— Simon (@sjdedic) October 31, 2024

To this, Coinbase CEO Brian Armstrong responded by claiming that “Coinbase’s listing fee is 0”.

Soon, Armstrong’s claimed sparked responses from several crypto veterans, with Andre Cronje, director of the Fantom Foundation and current chief technology officer of Sonic Labs (formerly Fantom), being one of them. Cronje dismissed Armstrong’s statement by saying: Binance did not charge it a listing fee, but Coinbase asked for fees many times. “Coinbase has asked us for; $300m, $50m, $30m, and more recently $60m”, Cronje wrote.

Binance charged us $0.

Coinbase has asked us for; $300m, $50m, $30m, and more recently $60m.

Lots of respect. But this is simply not true.

— Andre Cronje (@AndreCronjeTech) November 3, 2024

However, Armstrong’s stance did find some support from other crypto executives as the host of The Ordinals Show, Leonidas admired Coinbase’s position on listing fees and shared, “The #1 memecoin on Bitcoin $DOG was airdropped for free in a volunteer run initiative with no team allocation or presale but because of our fair distribution we have no treasury for listing fees.”

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