Chiara Bianchi
The world’s largest cryptocurrency exchange, Binance, has publicly stated that it does not profit from the listing process of tokens on its platform. The exchange’s clarification came through an official post on X (formerly Twitter) on Tuesday, following a series of allegations made by CJ Hetherington, the CEO of Limitless Labs—a blockchain, prediction market, and AI development company.
Earlier in the day, Hetherington shared what he described as an alleged listing offer from Binance. According to his post, the offer claimed that Binance had requested 8% of Limitless Labs’ future token supply, along with unspecified cash and token-based security deposits as part of the listing process.
Hetherington’s claims quickly gained traction online, particularly given that Limitless Labs is backed by Coinbase Ventures and the Base Ecosystem Fund, both prominent names in the crypto investment landscape. The allegations suggested that Binance was leveraging its dominant market position to demand sizable portions of projects’ token allocations in exchange for listings—an accusation that has long been whispered about in crypto circles.
Binance’s Strong Rebuttal
In a swift response, Binance stated it was “aware” of the founder’s remarks and described them as “false and defamatory.” The exchange emphasized that it reserves the right to pursue legal action against Hetherington for what it views as the unauthorized disclosure of confidential communications.
“We are also surprised by CJ’s illegal and unauthorised disclosure of confidential communications with Binance,” the company wrote on X. “These publications have damaged the integrity of what the industry and community clearly understands and knows to be sensitive and confidential information.”
Binance went on to clarify that it does not charge listing fees for token launches. Instead, the exchange explained that any cash or token-based security deposits it requires from projects are fully refundable within a 1-2 year timeframe, depending on the agreement terms. The firm also denied any claims that its executives had ever sold or “dumped” tokens from newly listed projects.
The Broader Context: Listing Costs and Industry Practices
While Binance’s official stance is that it earns no profit from listing new tokens, the broader crypto industry has long speculated about indirect costs tied to listings on major exchanges. These costs can include liquidity provisioning, market-making commitments, or promotional airdrops—sometimes amounting to 7–8% of a project’s total token supply.
In this case, a trader known as 韭菜不红Leek posted on Binance Square, claiming that Binance “requires projects to distribute 8% of their token supply to Binance users through airdrops and other activities.” Although such claims are difficult to verify, they align with recurring rumors about Binance’s listing expectations.
Adding to the controversy, Mike Dudas, founder of 6MV and a former backer of PRIME, commented on X:
“I can confirm that I’ve seen Binance TGE listing proposals of the exact same nature as CJ’s at Limitless in the past month. And I signed no NDA, so I can’t be legally fudded out of talking about it. Binance has been running the same playbook for years.”
Unverified Claims and Unanswered Questions
As of press time, neither Binance nor Hetherington has provided additional statements or evidence to substantiate their positions. Independent media outlets, including PRIME, have noted that they cannot confirm or deny either party’s claims due to the private and opaque nature of token listing negotiations.
The dispute underscores a persistent issue within the crypto industry: the lack of transparency around exchange listing practices. With exchanges holding immense influence over token liquidity and exposure, any perceived pay-to-list dynamics can raise serious concerns about fairness and decentralization.
The Bigger Picture
Binance’s denial comes at a time when global regulators are intensifying scrutiny over the exchange’s operations, following past investigations into its compliance practices. Maintaining credibility and community trust is crucial for Binance as it continues to dominate trading volumes worldwide.
Meanwhile, the public exchange of accusations between Binance and Limitless Labs serves as a reminder of how quickly reputational risks can escalate in the crypto space. As more projects pursue listings on top-tier exchanges, the call for greater transparency and standardized listing criteria is growing louder.
Until either side releases verifiable evidence, the situation remains a he-said-she-said standoff—but one that may prompt the industry to rethink how token listings are negotiated and disclosed.
