Cryptocurrency

Cryptocurrency exchange Binance is tightening requirements for listing new tokens on its platform.
According to a March 15 report from <a href="https://www.bloomberg.com/news/articles/2024-03-15/binance-extends-token-listing-cliff-period-requires-deposit-bnb" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>, Binance will tighten listing requirements for new tokens to enhance investor protection on its platform.
Executives involved in the Binance listing, who spoke anonymously to avoid jeopardizing business relationships, said the changes threaten their profitability and make <a href="https://crypto.news/tag/listing/" target="_blank" rel="noopener noreferrer nofollow">listing</a> new tokens prohibitively burdensome. One of them verbally complained to <a href="https://crypto.news/tag/binance/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> management about the tightening of requirements. The changes began to take effect late last year, said the source, who asked not to be identified.
You might also like: <a href="https://crypto.news/binance-reward-listing-predictions/" rel="noopener noreferrer nofollow"> Binance to reward users for accurate listing predictions </a>
Now, projects seeking to list tokens on Binance must agree to a more extended cliff period—from six months to a year—during which coins cannot be sold, more must be allocated to market makers, and collateral must be paid. In some cases, the exchange requests that a more significant portion of traded tokens be assigned to market makers to ensure adequate liquidity.
<blockquote class="wp-block-quote">
 “A longer vesting schedule fosters deeper project commitment, benefiting the users and the overall ecosystem.” <cite>Binance executives</cite>
</blockquote>
Binance employees’ concerns about loss of profits are not accidental. The company’s share in the market of centralized cryptocurrency exchanges in November 2023, against the background of the announcement of <a href="https://crypto.news/changpeng-zhaos-journey-from-mcdonalds-to-crypto-magnate/" target="_blank" rel="noopener noreferrer nofollow">Changpeng Zhao</a>‘s <a href="https://crypto.news/binance-ceo-changpeng-zhao-steps-down-with-response-to-the-sec-following-guilty-plea/" target="_blank" rel="noopener noreferrer nofollow">resignation</a> from the post of CEO, briefly dropped to 32%, and at the end of 2023 <a href="https://crypto.news/binances-market-share-declined-by-5-amid-regulatory-pressure-data-shows/" target="_blank" rel="noopener noreferrer nofollow">decreased</a> by 5% from 54.2% to 48.7%.
Although the exchange still leads the market by a wide margin over other trading platforms, its share of influence has declined after a series of problems in 2023. The most high-profile case was the proceedings with U.S. regulatory authorities, resulting in the exchange <a href="https://crypto.news/binance-settlement-plea-deal/" rel="noopener noreferrer nofollow">paying</a> $4.3 billion for economic offenses.
You might also like: <a href="https://crypto.news/qcp-capital-bnb-growth-binance/" rel="noopener noreferrer nofollow"> QCP Capital explains BNB’s constant growth despite Binance problems </a>

Binance to tighten token listing process, jeopardizing profitability

crypto.news

发布于 2024年3月15日的其他文章

Crypto Traders Celebrate Bitcoin (BTC) All-Time High: Binance Coin (BNB) Holders Rush Kelexo (KLX...

Cardano’s Market: Balancing Gains and Losses

Price analysis 3/15: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, DOT

Satoshi-Era Bitcoin Whales Are Waking Up, Selling Their Holdings

Pushd (PUSHD) Presale Excitement: Ethereum (ETH) & Tether (USDT) Bulls Eyeing a 100X Surge in Sta...

Crypto Analyst Predicts FET to Hit $7: Is the Bull Run Just Beginning?

订阅我们免费的电子期刊，获取每日最新加密领域动态！