Binance’s help desk has removed what it called an “over-the-top” response to a tweet that claimed that Limitless Labs CEO CJ Hetherington tried to demand 8% of Limitless’s supply and an additional payment of $2.45 million in order to list the token on the exchange.
Hetherington, who runs Limitless on Coinbase, also suggested that Binance and its favorite founders and affiliates are dumping users.
Binance’s help desk fired back, calling Hetherington’s claims “false and defamatory” and claiming that “Binance does not charge listing fees.”
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It also said that his dumping allegations were “false and baseless” and that his posts were “an illegal and unauthorized disclosure of confidential communications with Binance.”
Binance also said it owns the rights. Taking legal action against false and defamatory claims.
Binance addresses deleted posts
Since the initial response, Binance has posted again, claiming that it does not receive any profits through the listing process and that “100%” of the project’s token allocation will be provided to users through trading events and various marketing campaigns such as “Alpha Airdrops.”
The bond required from Hetherington was also described as a “short-term exploitation safeguard” to “ensure that the project team remains committed to the project post-listing.”
It was noted that these deposits would be returned after the project completed its commitments.
The exchange also addressed the now-deleted post, saying, “While we stand by our position, the way we communicated went too far and we sincerely apologize to our users, partners, and the industry as a whole.”
Hetherington spurred complaints.
Hetherington was endorsed by The Block co-founder Mike Dudas, who said:List suggestions of exactly the same nature”
O Media CEO Jeffy Yu also chimed in, claiming that Binance demanded $1 million to list his token. He chose to list on multiple exchanges, including Kraken, which he claims he paid “$100,000 to $200,000 in addition to the token supply.”
He also said that ByBit “received a large amount of tokens and $250,000.”
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Binance disputed Yu’s claims, claiming that he was probably talking to a scammer and not Binance staff. It read, “We wanted to confirm that we have not received any communications that may cause problems regarding the listing of your company’s coins.”
Prominent crypto trader James Wynn sided with Binance, describing the criticism as Coinbase leading a “coordinated FUD attack to tarnish the reputation of CZ/Binance/BNB.”
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Rival exchanges such as HyperLiquid are using this opportunity to promote their companies, claiming that they have “no listing fees, no listing departments, and no gatekeepers.”
After last weekend’s crypto crash, HyperLiquid co-founder Jeffrey Yang discussed each exchange’s ability to respond to such an event with former Binance CEO Qiao Changpeng.
Mr. Zhao intervenes in Binance listing drama
Zhao, who is currently barred from working at Binance following a US plea agreement, also expressed his thoughts on the exchange’s listing process earlier today.
He began by saying that any project that complains about publication fees should not pay them. He also suggested that competing exchanges complain about listing fees should be set at zero.
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Cryptocurrency “bagholders” were instead told to complain to the project, which emphasized that PancakeSwap has no listing fees.
“In a decentralized world, companies are free to have their own business models. No one forces them to adopt a particular model,” Zhao said, adding, “If the project is strong, exchanges will compete to list the coin.”
Hetherington responded, “Everyone, remember: Don’t make it real. Ignorance is the best rejection.”
He repeatedly promoted Limitless in between attacks on Binance, appearing to misleadingly imply that Zhao had blocked him.
Others complained that based on Zhao’s listing logic, Hyperliquid’s tokens should already be listed. Some have pointed out that this probably won’t happen because Hyperliquid is a competitor.
