Power, Trust, and the Growing Rift in Crypto Infrastructure
Allegations, denials, and escalating debates surrounding Binance’s listing practices have reignited public concerns about transparency in centralized exchanges (CEXs). Behind the headlines lies a deeper tension: the balance of power between exchanges and projects, and the fine line between business cooperation and coercion.
The Controversy: Alleged Listing Demands by Binance
The current storm began when Limitless founder CJ Hetherington published claims about Binance’s listing requirements. According to Hetherington, the exchange allegedly demanded substantial upfront payments and token allocations from projects looking to list — practices he compared unfavorably with Coinbase, emphasizing a stark contrast in approach.
Binance responded swiftly, labeling the allegations as “false and defamatory.” The company stated that it does not profit from listing fees nor requires token sales from project founders. Furthermore, Binance accused CJ of violating a non-disclosure agreement (NDA), signaling potential legal action.
Mirror Tang, a vocal critic of the leaks, dismissed the claims as “unstructured and boastful,” suggesting they offered little of substance while breaching confidentiality terms. Others, however, interpreted Binance’s reaction as a defensive overreach.
“It’s the beginning of the end for them. They’re losing their grip—everyone can see it now, including themselves,” said one X (formerly Twitter) user.
Past Accusations and Familiar Patterns
This isn’t the first time Binance has faced allegations of aggressive listing tactics. Some community members have gone as far as to describe the behavior as “extortion,” claiming the exchange demands token supply percentages or hefty payments just for the chance to be considered.
Crypto investor Mike Dudas added to the debate, stating:
“Binance demanded nearly 10% of total token supply from multiple projects for listings and token generation events.”
Other users have corroborated similar experiences. One reported being told:
“$1 million worth of tokens for airdrop and $1 million for trading competition—and that wouldn’t even guarantee a listing, just the first step for Binance Alpha.”
The accumulation of such claims paints a pattern that raises larger questions about fairness and integrity within CEX business models.
