• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Binance
Nexo

Binance Donates Alleged Multimillion Dollar Listing Fees To Charity In New Shake-Up

Wilma Woo by Wilma Woo
3 years ago
in Altcoin News, Altcoins, Bitcoin, Bitcoin Businesses, Bitcoin Exchange, News, News teaser
0

Cryptocurrency exchange Binance has appeared to end its controversial listing fee policy for new altcoins and plans to donate all funds received to charity. 


Developers To ‘Propose’ New Fees

In a blog post on October 8, Binance said the change would take effect “immediately” and would also see developer teams themselves select how much to “pay” to list their coin following approval.

“Project teams will still propose the number they would like to provide for a ‘listing fee,’ or now more appropriately called a ‘donation,’” the post confirmed.  “Binance will not dictate a number, nor is there a minimum required listing fee.”

The move comes several months after Bitcoinist reported on negative criticism focusing on Binance and CEO Zhao Changpeng after the developer of one altcoin claimed the exchange had requested a fee of 400 BTC ($2.6 million) to list his asset.

While both Zhao and other officials denied the claims, cryptocurrency community figures condemned both the alleged fees and Binance’s listing process more generally, arguing it went against the principles of decentralization the exchange said it upholds.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin, Bitcoinist argued, would likely not make it through Binance’s listing process under current requirements.

Binance

Calls For Cross-Industry Standard

The blog post meanwhile placed emphasis on the decision as forming part of a broader push into charitable operations.

“This change will further push Binance’s charity initiatives and increase the use of blockchain for the greater good,” it continues, with further details about upcoming plans due “shortly.”

On Twitter, Zhao said he hoped other exchanges would adopt a voluntary “transparent” fee policy.

Hope others will follow. https://t.co/tBWvyAStd2

— CZ Binance (@cz_binance) October 8, 2018

While it is unclear how much Binance has made from listing fees, which appear shrouded in mystery and calculated on a case-by-case basis, overall profits continue to skyrocket, coming in at $200 million for Q2 2018.

Annual profits for this year are set to top $1 billion, Zhao told mainstream media in July. 

What do you think about Binance’s listing fee change? Let us know in the comments below! 


Images courtesy of Shutterstock, Twitter.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Wilma Woo

Wilma Woo

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.