24/7 Cryptocurrency News

Binance Faces Heavy Backlash Over Futures NEXT Launch, Here’s Why

Binance's Futures NEXT launch sparks controversy over transparency and insider trading concerns, despite a surge in BNB price.
Published by
Binance Faces Heavy Backlash Over Futures NEXT Launch, Here’s Why

Highlights

  • Binance introduces Futures NEXT for predicting token listings, stirring excitement and controversy.
  • BNB price witnessed a surge of over 6% following the announcement.
  • Users can nominate tokens for listing but concerns arise over transparency and insider trading.

Binance, a leading cryptocurrency exchange, has stirred both excitement and controversy with the launch of its new platform, Futures NEXT. While promising to reward users for predicting token listings, the platform faces heavy backlash from the crypto community, raising concerns over transparency and potential insider trading. However, despite the criticism, the BNB price rallied over 6% following the announcement.

Advertisement

Binance Unveils Futures NEXT To Reward Users

The leading crypto exchange, Binance introduces Futures NEXT, a pioneering platform designed to empower users in predicting token listings on the exchange’s USDⓈ-M Futures market. Through a prediction-based mechanism, users can nominate tokens for potential listing, earning rewards for accurate forecasts, according to the platform’s latest announcement.

Meanwhile, the platform features the NEXT Pool, curated by user nominations, reflecting community sentiment and interest in upcoming tokens. Users engage by allocating “Picks” to preferred tokens within the pool, with rewards awaiting successful listings on the USDⓈ-M Futures market.

However, Binance clarified the independence of its Futures NEXT platform from USDⓈ-M listing decisions. Futures NEXT operates separately, prioritizing market predictions over token listings.

In other words, Binance said that although users can nominate tokens, it’s not a voting platform. Popular tokens on Futures NEXT aren’t guaranteed listings, as Binance maintains a rigorous, impartial listing review process.

All tokens undergo the same evaluation criteria, irrespective of their performance or popularity on Futures NEXT. This announcement emphasizes Binance’s commitment to fairness and transparency in its listing procedures, reassuring users of equal treatment for all tokens considered for listing on the exchange.

Also Read: Here’s Why AI Tokens FET, RNDR, NEAR & Others Are Rallying Today

Advertisement

Crypto Community Raises Transparency Concerns

Despite Binance’s efforts to democratize token listing predictions, the launch of Futures NEXT has been met with skepticism and criticism from the cryptocurrency community. Influential figures like Hsaka question the platform’s efficacy, advocating for alternative methods of determining market preferences.

Besides, concerns over insider trading have also surfaced, with users questioning the fairness and transparency of the platform. Notably, Hsaka highlights potential loopholes, suggesting that pre-listing token purchases based on platform activity could introduce market distortions and unfair advantages.

However, clarifying doubts over insider trading, Hsaka emphasizes the public nature of the platform, refuting claims of insider trading opportunities. But, uncertainties persist regarding the platform’s true intent and impact on market dynamics.

Despite the controversy surrounding Futures NEXT, Binance’s native token, BNB price rallied 6.12% to $433.70 following the platform’s announcement. This surge underscores investor confidence in Binance’s ability to innovate and adapt to evolving market demands, despite mixed reactions from the community.

Also Read: Bitwise CEO Highlights Bitcoin’s Potential Amid Egypt Crisis

Share
Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA Holdings, Inc. announced that it now holds $5.9 billion worth of Bitcoin. This cements…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025