‘Secret’ Coinbase, Binance listing fees spark heated debate

Coinbase and Binance’s claims to offer zero-fee listings have been called into question by big-name players in the crypto industry who say both exchanges have charged tens of millions of dollars for listings.   

Late last week, Moonrock Capital CEO Simon Dedic wrote on X (formerly Twitter), about a “tier 1” crypto firm that he says, after a year of “due diligence,” was told to pay a sum equivalent to 15% of its token supply to list on Binance. Dedic said, “Imagine paying $50–$100 million just for a CEX listing.”

This prompted Coinbase CEO Brian Armstrong to proclaim, “Asset listings on Coinbase are free.” What followed was an industry-wide back-and-forth about the legitimacy of this statement. 

Andre Cronje, Chief Technology Officer at Sonic Labs, weighed in to point out that Binance charged his firm nothing. “Coinbase has asked us for; $300 million, $50 million, $30 million, and more recently, $60 million,” he said.

Tron creator Justin Sun also said that Binance charged him nothing. Coinbase, on the other hand, allegedly wanted $80 million worth of TRX and a $250 million bitcoin deposit.

Cronje said, “[Coinbase] can argue it isn’t a “listing fee,” but it is an “earn fee” which still translates into “cost to be listed.” I know the legal separation, but happy to post all the evidence and let the public decide.”

Coinbase listing fee argument might be about Earn program

Cronje’s stance wasn’t shared by everybody, however. Indeed, OKX’s Chief Marketing Officer called Coinbase “honest” and “transparent,” adding, “No way they charge listings ‘fees.’” 

Lunar Labs co-founder Luke Youngblood also disagreed with Cronje and said he might be talking about Coinbase’s Earn program, which he says is “a completely optional marketing program, and whether you participate in it has no bearing on getting listed.”

He added, “Moonwell declined Earn because the cost was high and still got listed.” He also initially suggested Cronje may have been in touch with fake Coinbase listings agents instead.

Read more: Launch of cbBTC, WBTC competitor, sparks Justin Sun hypocrisy

As for the Binance 15% fee claim, Binance co-founder and Chief Customer Service Officer Yi He called it FUD and said, “If the project does not pass the screening process, no matter how much money or how many coins will not be listed.”

She also described Cronje’s statement as speaking “the truth through the noise.” 

Coinbase’s site claims it doesn’t charge listing fees. Protos has reached out to Binance, Coinbase, Moonrock Capital, and Cronje for comment and will update if we hear back.

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