Shiba

ConstitutionDAO

Pepe

Shiba Inu

<p>He Yi, the co-founder of <strong>Binance</strong>, has addressed recent criticism surrounding the platform’s altcoin listings, particularly after the exchange added several <strong>memecoins</strong> to its portfolio. Here’s what she had to say about the controversy.</p> 
<h2 id="strong-he-yi-addresses-community-concerns-strong"><strong>He Yi Addresses Community Concerns</strong></h2> 
<p>As one of the world’s largest cryptocurrency exchanges, <strong>Binance</strong> found itself at the center of heated debates following the listing of a series of memecoins. In response to criticism from the crypto community, He Yi published an in-depth article explaining the platform’s listing process and addressing user concerns.</p> 
<p>In the article, He Yi outlined Binance’s four-step listing procedure: business development, research team evaluation, committee review, and compliance audit. She also acknowledged the ongoing debates about Binance’s recent listings and the concerns expressed by the community regarding the platform’s direction.</p> 
<p><strong>“Recently, there has been a lively debate about Binance’s listing process within the community. We have carefully considered everyone’s feedback,”</strong> He Yi explained.</p> 
<h2 id="strong-main-points-of-criticism-strong"><strong>Main Points of Criticism</strong></h2> 
<p>He Yi highlighted three main points of criticism that Binance has faced recently:</p> 
<ol> 
 <li>Accusations that Binance had betrayed its community by listing <strong>venture capital-backed coins</strong>.</li> 
 <li>Concerns that the listing of <strong>memecoins</strong> has lowered the exchange’s listing standards.</li> 
 <li>Claims that Binance acted recklessly by listing certain game projects from Telegram (TG).</li> 
</ol> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-45218" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/representing-Binances-altcoin-listing-process-and-the-controversy-surrounding-it.-The-scene-includes-the-Binance-logo-at-th.webp" alt="Binance Co-Founder Responds to Criticism Over Altcoin Listings = The Bit Journal" width="1792" height="1024" title="Binance Co-Founder Responds to Criticism Over Altcoin Listings 23"></p> 
<h2 id="strong-how-binance-is-responding-to-feedback-strong"><strong>How Binance is Responding to Feedback</strong></h2> 
<p>He Yi reassured the community that Binance takes these concerns seriously, stating, <strong>“The deeper the love, the harsher the criticism,”</strong> and adding that those voicing their concerns were doing so out of a genuine care for the platform.</p> 
<p>To clarify Binance’s position, He Yi outlined the general preferences of the platform’s past listing committees:</p> 
<h3 id="strong-1-listing-projects-that-users-want-strong"><strong>1. Listing Projects That Users Want</strong></h3> 
<p>He Yi admitted that Binance had underestimated the importance of memecoins in the past, missing opportunities with coins like <strong>Shiba Inu (SHIB)</strong>, <strong>ConstitutionDAO (PEOPLE)</strong>, and <strong>Pepe (PEPE)</strong>. She stressed that projects with a strong user base and significant traffic play a crucial role in the platform’s listing decisions.</p> 
<h3 id="strong-2-long-term-projects-strong"><strong>2. Long-Term Projects</strong></h3> 
<p>He Yi noted that traditional venture capitalists have aggressively entered the crypto space in recent years, leading to inflated valuations for even the smallest potential projects. Binance considers this trend when evaluating new listings, focusing on projects with <strong>long-term value</strong> and sustainable business models.</p> 
<h3 id="strong-3-projects-with-solid-business-models-strong"><strong>3. Projects with Solid Business Models</strong></h3> 
<p>Addressing the common claim that crypto projects don’t need business models, He Yi emphasized her belief that whether in <strong>Web2</strong> or <strong>Web3</strong>, entrepreneurship should be driven by creating something of value that customers are willing to pay for.</p> 
<h2 id="strong-binance-s-commitment-to-high-standards-strong"><strong>Binance’s Commitment to High Standards</strong></h2> 
<p>With this statement, He Yi provided a clearer picture of Binance’s listing strategy, aiming to reassure both its critics and supporters that the exchange remains committed to its community and maintaining high standards in its listing process.</p>

Binance Co-Founder Responds to Criticism Over Altcoin Listings

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