- Coinbase has added Binance’s BNB token to its roadmap for potential listing.
- Online debate began over token listing criteria for Binance and Coinbase.
- Binance denied charging listing fees and issued an apology for a deleted post threatening legal action.
- BNB is currently the third-largest cryptocurrency, with a reported market capitalization of $160 billion.
- Both Coinbase and Binance have recently updated their token listing processes to increase transparency.
Coinbase has added Binance’s BNB token to its listing roadmap, signaling plans to consider the cryptocurrency for trading. This move was made public on Wednesday and follows recent debates among crypto industry leaders about the requirements for listing tokens on leading exchanges.
The discussion started on Tuesday when CJ Hetherington, CEO of Limitless Labs, posted on X about the alleged differences between Binance and Coinbase listing standards. Hetherington claimed that Binance required a deposit of 2 million BNB for a spot listing, while Coinbase had less strict criteria, mainly asking projects to build “something meaningful on Base,” Coinbase’s blockchain network.
The online conversation intensified after Jesse Pollak, head of Base at Coinbase, commented on X, stating that “it should cost 0% to be listed on an exchange.” In response to these claims, Binance posted a since-deleted message on X denying any listing fees and calling some allegations “false and defamatory.” The company later apologized, saying, “While we stand by our position, the way we communicated was excessive and we sincerely apologize to our users, partners, and the wider industry.”
Former Binance CEO Changpeng “CZ” Zhao praised Coinbase’s move to consider BNB but also urged the platform to “list more BNB Chain projects.” Although CZ stepped down as CEO in 2023 following a deal with U.S. authorities, he still reportedly holds around 64% of BNB’s circulating supply, or about 94 million tokens as of June 2024.
Both exchanges are working to make their token listing processes clearer as the number of digital assets continues to grow. Binance introduced a system in March allowing community votes on listings or removals. This followed CZ’s acknowledgment that the company’s listing process was “a bit broken.” Similarly, Coinbase CEO Brian Armstrong noted in January that their process needed updates due to the rapid creation of new tokens, stating that applications are now “free and merit-based” and include business and legal reviews.
As of Thursday, BNB’s price stood at $1,149. For more information on exchange listing guides and policy updates, readers can reference Coinbase’s official guide.
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