MEXCIs Coinbase Truly Offering Free Crypto Listings? Brian Armstrong Faces Backlash
Highlights
- Several industry figures claim Coinbase’s free listing claim involves hidden fees and high collateral demands.
- Justin Sun alleges Coinbase requested 500M TRX and $250M BTC in custody for listing.
- Hugo Philion, CEO of Flare, said Coinbase charged no fees for listing, revealing inconsistencies listing policies.
Coinbase CEO Brian Armstrong’s claim of free crypto assets listings on the exchange is facing sharp criticism from some industry leaders who report hidden costs. Tron founder Justin Sun stated that Coinbase required a 500 million TRX deposit, worth $80 million, plus $250 million in BTC custody, contradicting Armstrong’s free listing assurance. Fantom founder Andre Cronje founder of Sonic Labs first questioned the high listing costs on Coinbase.
Brian Armstrong’s “Free Listings” Comment Drives Debate
Coinbase CEO Brian Armstrong’s recent claim that crypto asset listings on the platform are free has stirred debate in the crypto community, with multiple industry leaders questioning its accuracy. Andre Cronje being the first to question its validity. Cronje alleged that the exchange had repeatedly requested substantial listing fees from projects including figures as high as $300 million.
After Cronje’s tweet, Tron founder Justin Sun alleged that Coinbase demanded a significant listing fee, disguised as a 500 million TRX deposit ($80 million) along with a $250 million BTC collateral held in Coinbase Custody.
According to Sun, these requirements imposed by Coinbase were meant to boost the platform’s performance and ensure his project’s listing—an assertion that challenges Armstrong’s notion of free crypto asset listings.
Moreover, Moonrock Capital CEO Simon Dedic shared that a Tier 1 project seeking to list on Binance was asked to provide 15% of its token supply to secure a listing. Although this statement does not directly implicate Coinbase. It highlights the broader trend of significant requirements associated with listings on top crypto exchanges, suggesting that free listing may be less common than some might think.
Inconsistencies in Coinbase’s Free Listing Policy?
Several crypto leaders have questioned Coinbase’s free listing policy, other figures have shared contrasting experiences. However, Hugo Philion, CEO of the blockchain platform Flare, responded to Armstrong’s statement by asserting that his project was not charged for listing. Philion experiences align with Armstrong’s claim, suggesting that some projects may indeed list on the exchange without incurring fees.
The conflicting accounts from other industry insiders highlight potential inconsistencies. These varying reports point to a possible lack of transparency, as some leaders argue that fees, deposits, or other demands may be selectively applied.
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