USDBinance Denies Listing Fee Allegations and Outflow Rumors Amid Market Scrutiny
Exchange rebuffs claims of multimillion-dollar token demands while industry debate over centralized listings intensifies
TL;DR:
- Limitless Labs CEO alleges Binance requested tokens and deposits worth millions for a listing.
- Binance and CZ reject the claims as “false and defamatory,” reaffirming they earn no profit from listings.
- Executives dismiss $20B outflow rumors while market data indicates reserves remain stable.
Binance found itself back in the spotlight after Limitless Labs CEO CJ Hetherington accused the exchange of demanding a combination of tokens and cash-like deposits to list his project. The claim ignited heated debate over centralized exchange practices and token listing ethics.
Hetherington posted on X to show Binance requesting 1 % of total token supply for a “day-one Alpha listing,” an additional 3 % for airdrops within six months, 1 % for marketing under Binance’s discretion, and 3 % for a “BNB HODLer” program. The alleged terms also included a $250 000 security deposit, 100 % of liquidity to be provided on PancakeSwap valued at over $1 million, $200 000 worth of tokens at a most-favored-nation price for Binance affiliate marketers, and a $2 million BNB deposit for a spot listing. Hetherington contrasted this with Coinbase’s offer, which he said simply encouraged him to “build something meaningful on Base.” The post quickly spread across social channels and fueled community questions about Binance’s listing process and its impact on the broader coin market cap dynamics.
The exchange immediately refuted the claims, calling them “false and defamatory.” Binance stated it does not charge listing fees and does not profit from any listing arrangements. According to the company, 100% of project token allocations go to users through Alpha Airdrops and similar campaigns. The exchange clarified that any deposits requested are safeguards designed to prevent short-term manipulation or liquidity withdrawal, emphasizing they are refunded once a project fulfills its obligations. Binance’s help desk initially issued an aggressive reply before deleting it and posting a more measured clarification, apologizing for the tone but maintaining the substance of its defense.
Founder Changpeng Zhao (CZ) responded publicly, saying, “If you are a project complaining about listing airdrops or ‘fees’ to users, don’t pay it. If your project is strong, exchanges will race to list your coin.” He encouraged other platforms to set their fees to zero and reiterated that PancakeSwap listings remain free.
Third-party voices added fuel to the conversation as the episode gathered momentum. The Block co-founder Mike Dudas said he had seen proposals of the same nature as Hetherington’s, suggesting some deals looked like ~10 % token allocation asks. O Media chief executive Jeffy Yu claimed Binance asked for $1 million to list his token and said Kraken quoted $100–200k plus token supply while Bybit took tokens plus $250k; Binance countered that Yu likely interacted with a scammer rather than exchange staff and said there had been no communication regarding his coin listing.
As the listing controversy escalated, social media chatter turned to reports claiming Binance had experienced more than $20 billion in net outflows over the week. Executives quickly dismissed the figures as misinformation. Co-founder Yi He fired back on X, writing, “If we can help everyone earn some cash by posting a single message worth $20K to criticize Binance, we’d be honored.”
Around the same time, CryptoQuant co-founder Ki Young Ju shared data showing Binance’s Bitcoin exchange reserve in USD remains near a multi-year high, countering speculation of mass withdrawals without fanfare.
The turbulence followed one of the market’s most severe liquidation events in recent months, wiping roughly $19–20 billion from the crypto price index and sparking a new round of questions about exchange reliability. Binance pledged compensation for users affected by technical delays during the crash, including a $400M relief program.
The episode has amplified long-running skepticism about centralized exchange listing transparency while highlighting how DEX models avoid such conflicts. Uniswap founder Hayden Adams commented that decentralized listings eliminate pay-to-list structures altogether, noting that high CEX listing costs often reflect marketing spend rather than structural necessity.
Adding to the shifting landscape, Coinbase added BNB to its official listing roadmap during the controversy, signaling that Binance’s native token continues to gain institutional attention despite the surrounding disputes. The coincidence underscored the contrast in approach between exchanges and further tied listing transparency to ongoing scrutiny of centralized power in the crypto industry. As the market steadies and crypto price recovery resumes, Binance’s rebuttal and the resilience of its reserves suggest the exchange remains positioned to weather the current narrative storm.
This article has been refined and enhanced by ChatGPT.
