TLDR:
- Binance denied CJ Hetherington’s claims of demanding token allocations for listings, calling them false and defamatory.
- The exchange stated that deposits required from projects serve to protect users and are typically refundable.
- CJ’s post compared Binance’s alleged listing demands with Coinbase’s offer to “build on Base.”
- Previous disputes, including the Zerebro and Moonrock Capital cases, resurfaced amid renewed focus on Binance listings.
A new clash has erupted between Binance and market watcher CJ Hetherington over alleged token listing terms.
The dispute began after CJ shared a post claiming Binance sought a percentage of a project’s total supply for various programs. His claims quickly circulated across crypto channels, sparking a heated online debate.
Binance, however, issued a strong response rejecting all allegations. The company called the claims false, defamatory, and designed to mislead the community.
In his post on X, CJ compared supposed offers from Binance and Coinbase. He claimed Binance demanded 9% of a project’s total tokens, a $250,000 deposit, and $2 million in BNB for a potential listing.
Coinbase, he said, only encouraged builders to “create something meaningful on Base.” Binance’s co-founder Changpeng Zhao, also known as CZ, replied online, dismissing CJ’s claims as clout-chasing behavior.
Binance Responds to Accusations from CJ Hetherington
Binance’s customer support team published a detailed statement on X addressing the allegations.
The exchange said it does not profit from listings and has never charged fees for them. The token allocations, Binance explained, are designed to benefit its users through airdrops and rewards.
The company clarified that the so-called “security deposit” serves to protect investors by ensuring projects remain operational post-listing. It added that deposits are refundable within one to two years under certain conditions.
Binance also accused CJ of unlawfully publishing confidential communications between his team and the exchange. It stated that such disclosures harm the integrity of sensitive industry processes and reserved the right to take legal action.
Binance further denied claims that its founders or executives dump listed tokens, calling such accusations “entirely untrue and unsubstantiated.” The company said its listing framework has always been transparent and user-focused.
Past Controversies Surround Binance Listings
The debate revived discussions around other past claims tied to Binance’s listings. Market observer StarPlatinum posted a thread recalling earlier disputes. One example was from Zerebro’s founder, Jeffy Yu, who said Binance requested $1 million for a listing on Solana.
Another involved Limitless CEO CJ Hetherington, who accused Binance of demanding both token supply and a multimillion-dollar security deposit.
In 2024, investor Simon Dedic claimed Binance sought 15% of tokens from a project that had raised $100 million. The exchange denied those claims as well.
Reports also surfaced about internal misconduct and alleged favoritism toward certain projects, though co-founder Yi He publicly rejected such rumors. These repeated allegations have fueled debate about transparency in centralized exchange listings.
While the exchange has faced waves of criticism, it remains one of the largest exchanges globally, with billions in daily trading volume. The exchange continues to defend its policies as fair and compliant, despite mounting scrutiny from parts of the crypto community.
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