China News by Thebittimes.Com

Coinbase and Binance’s claims to offer zero-fee listings have been called into question by big-name players in the crypto industry who say both exchanges have charged tens of millions of dollars for listings.    Late last week, Moonrock Capital CEO Simon Dedic wrote on X (formerly Twitter), about a “tier 1” crypto firm that he says, after a year of “due diligence,” was told to pay a sum equivalent to 15% of its token supply to list on Binance. Dedic said, “Imagine paying $50–$100 million just for a CEX listing.” This prompted Coinbase CEO Brian Armstrong to proclaim, “Asset listings on Coinbase are free.” What followed was an industry-wide back-and-forth about the legitimacy of this statement.  Andre Cronje, Chief Technology Officer at Sonic Labs, weighed in to point out that Binance charged his firm nothing . “Coinbase has asked us for; $300 million, $50 million, $30 million, and more recently, $60 million,” he said. Tron creator Justin Sun also said ...

Coinbase CEO Brian Armstrong hit back at Tron founder Justin Sun, who called the launch of Coinbase’s new cbBTC token a “dark day for Bitcoin.” Sun criticized cbBTC in a Sept. 12 post on X for lacking Proof of Reserves, audits, and having the potential to freeze user balances. He derided it as a “trust me” system and warned that a US government subpoena could allow authorities to seize the underlying Bitcoin. “There’s no better representation of central bank Bitcoin than this,” he said. Armstrong responded in a Sept. 14 post on X, defending Coinbase’s transparency about cbBTC and its centralized nature. He pointed out that Coinbase has always been clear about being the custodian of the underlying Bitcoin. “Not sure what this is all about, TBH,” he said. ”As for cbBTC yes you’re trusting a centralized custodian to store the underlying BTC – we’ve never claimed otherwise.” Coinbase Believ...