Binance Is Feeling Very Charitable
Ethereum World News published a report in early August regarding Chris Franko (Expanse) who claimed that he was ordered to pay 400 Bitcoin - which is equal to around $2.5 million - for a listing position on Binance. Â
This has led to many questioning what the details are for Binanceâs listing process and some have even started to get aggressive on social media against the exchange.
The whole situation got to the point where the CEO and founder of Binance, ChangPeng Zhao was forced to get involved. Zhao said that the 400 Bitcoin listing fee is far from the truth as the email that the expanse co-founder went to twitter to confirm that it was spam and from a Binance representative.
âWe donât list s***coins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more were listed with no fee (paid). Question is not âhow much does Binance charge to list?â but âis my coin good enough?â Itâs not the fee, itâs your project! Focus on your own project!â
Changpeng, rebutted the claims which were made clear through a recent announcement by Binance. Itâs apparent that the startup aims to clear the air about the listing free debate.
The Malta-based startup revealed on Monday that it would be making some changes to its listing fee policy, which it has kept under wraps just over 12 months. According to an official announcement, Binance will immediately disclose all listing fees that have been paid and donate all the proceeds incurred to charity for the foreseeable future.
Bringing a further clarity to the listing fees, the company added that prospective Binance listees will basically be giving a donation to charity rather than for an application or listing fee. The platform explained that there wonât be a minimum monetary value for donations which should come as a relief to small-cap, however, promising altcoin projects which are aiming to gain traction on the worldâs largest crypto exchange.
Binance will most likely start donating huge amounts to the BCF (Blockchain Charity Foundation). BCF is a blockchain focused charity which was founded by the startup and can arguably be more important than the apparent removal of a âminimum required listing feeâ
The aims of BCF states:
âOur mission is to lift the Bottom Billion people out of poverty by harnessing blockchain-enabled charitable giving and amplifying philanthropic endeavours by supporting blockchain solutions that unlock new, automated, and transparent pathways for philanthropic endeavours.â
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