Is Coinbase Token Listing Free? Crypto community is buzzing with alleged multi-million dollar fees

Coinbase, one of the world’s largest cryptocurrency exchanges, is under scrutiny after some prominent crypto figures rejected Coinbase CEO Brian Armstrong’s statement that the company’s asset listing service is free.

Armstrong’s statement about free digital asset listings on Coinbase caught the attention of many crypto users, including Justin Sun, who founded the TRON network. Even early Tuesday, some crypto users and crypto projects are discussing whether or not Armstrong’s statements are true.

‘Simply not true’: sun

Sun, who has made a name for himself in the massive blockchain industry through his work on TRON, revealed that Binance, a leading crypto exchange founded by Changpeng “CZ” Zhao, “charged us $0.”

On the other hand, “Coinbase required us to pay 500 million TRX (worth $80 million) and demanded a deposit of $250 million BTC (Bitcoin) into Coinbase custody to improve their performance.”

Sun emphasized that while he has great respect for Armstrong, his statement was “simply not true.” Pointsville founder Gabor Gurbacs said the amount Coinbase demanded from TRON to list its native token “doesn’t seem market standard.”

Interestingly, even Andre Cronje, co-founder of 0xSonicLabs, had the same revelation. He said Binance hasn’t charged them anything for a listing, while Coinbase has asked for $300 million, $50 million, $30 million and “more recently” $60 million. Coinbase has not yet responded to Sun and Cronje’s statements.

Kaspa Kii demands transparency of the listings

Kaspa Industrial Initiative (Kaspa Kii), the foundation dedicated to promoting the Kaspa (KAS) token, published an open letter to Coinbase on Monday evening, demanding “for transparency and fair listing practices for Kaspa (KAS) on Coinbase. “

The foundation pointed out that Armstrong’s claim about free listings contradicted public reports, raising “serious questions about possible material misrepresentations under the securities laws.”

Kaspa Kii also revealed that it has repeatedly tried to contact Coinbase for a KAS listing, but has not received a response as of Monday evening. It urged Coinbase to improve its Asset Hub process “so that it truly covers all legitimate cryptocurrency projects.”

Before Kaspa Kii’s open letter, Luke, Kaspa’s global ambassador, called out Armstrong for directing tokenlist seekers to an “outdated” link. “How are people supposed to navigate this overly complicated process if you can’t even provide the correct URL in your knowledge base?” Luke wrote.

CEO of PundiX supports Armstrong

While many crypto users are outraged by the revelations, in the case of the listing of the PUNDIX and FX tokens, PundiX CEO and co-founder Zac Cheah said that Coinbase did not charge any listing fees “nor ask for deposits.”

One commenter said, “It’s all about the product,” which seems to suggest that projects that have requested deposits or listing fees have had issues with their tokens.

Coinbase did not immediately respond International business timesrequest for comment.