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Cryptocurrency exchange Coinbase has added Binance\u2019s BNB token to its roadmap for listings amid a series of online exchanges discussing the process.<\/p>\n
On Tuesday, Limitless Labs CEO CJ Hetherington posted<\/a> to X, contrasting what he claimed were the requirements for a token to be listed on Binance rather than Coinbase. According to the CEO, Binance\u2019s requirements included a security deposit of 2 million BNB (BNB<\/a>) for a spot listing, while Coinbase\u2019s were limited to \u201cbuild[ing] something meaningful on Base.\u201d<\/p>\n The online exchange sparked debate, which only seemed to intensify when Coinbase\u2019s head of Base, Jesse Pollak, chimed<\/a> in to say \u201cit should cost 0% to be listed on an exchange.\u201d\u00a0<\/p>\n Binance initially responded to Hetherington with a since-deleted X post, threatening legal action against the CEO and calling some of his claims \u201cfalse and defamatory.\u201d The exchange claimed that it did not accept fees for listing tokens.<\/p>\n \u201cWhile we stand by our position, the way we communicated was excessive and we sincerely apologize to our users, partners, and the wider industry,\u201d said<\/a> Binance in a follow-up to the deleted post on Wednesday.<\/p>\n Related: <\/strong><\/em>Bybit denies $1.4M listing fee, school promo accusations on X<\/strong><\/em><\/a><\/p>\n Whether influenced by the social media debate or not, Coinbase followed<\/a> by adding BNB to its roadmap on Wednesday, indicating that it was planning to list the token. Former Binance CEO Changpeng \u201cCZ\u201d Zhao praised<\/a> the move but also later urged<\/a> Coinbase to \u201clist more BNB Chain projects.\u201d<\/p>\n CZ is Binance\u2019s largest shareholder but no longer in a managing or operational role following a deal with US authorities<\/a> that had him step down as CEO in 2023. However, he still reportedly controlled 64% of the circulating supply<\/a> of BNB at about 94 million tokens as of June 2024.<\/p>\n Crypto traders know the value that having any token listed on a top-tier exchange<\/a> can have in causing the price to surge immediately following the news or slowly through greater adoption. Both Coinbase and Binance have taken steps to implement new changes to the token listing process as the number of cryptocurrencies increases. <\/p>\n In March, Binance launched a community co-governance structure<\/a>, allowing users to vote to list or delist tokens. The announcement came a few weeks after CZ posted on X, claiming the exchange\u2019s process<\/a> was \u201ca bit broken\u201d due to the time between announcing a new token and listing it.<\/p>\n <\/p>\n Coinbase CEO Brian Armstrong made similar remarks<\/a> in January, saying the company needed to rethink its listing process, given there were about \u201c1 million tokens a week being created now, and growing.\u201d The exchange released<\/a> a guide in September saying every token application was \u201cfree and merit-based,\u201d and included a business evaluation and legal review.<\/p>\n As of Thursday, BNB was the third-largest cryptocurrency with a market capitalization of about $160 billion. According to data from Nansen, the BNB price was $1,149 at the time of publication.<\/p>\nIncreasing transparency for exchanges\u2019 listings<\/h2>\n