Coinbase Accused of Charging Millions of Dollars to List Crypto Assets, Contradicting CEO's 'Free Listings' Claim

Armstrong's statement regarding free digital asset listings on Coinbase drew the attention of many crypto users, including Justin Sun, who founded the TRON network.

Coinbase CEO Brian Armstrong recently stated that the crypto exchange does not charge for digital asset listings. However, some crypto users and projects have disputed this claim.

In a tweet on Tuesday, TRON founder Justin Sun said that Binance, another major crypto exchange, "charged us $0" for listing the TRON token (TRX). In contrast, he said that Coinbase "required us to pay 500 million TRX (worth $80 million) and demanded a $250 million BTC (Bitcoin) deposit in Coinbase custody to boost their performance."

Binance charged us $0.

Coinbase required us to pay 500 million TRX (worth $80 million) and demanded a $250 million BTC deposit in Coinbase Custody to boost their performance.

Lots of respect. But this is simply not true.

Sun added that he has "lots of respect" for Armstrong, but his statement is "simply not true." Pointsville founder Gabor Gurbacs said that the amount Coinbase asked TR0N to list its native token "doesn't seem market standard."

0xSonicLabs co-founder Andre Cronje also shared a similar experience, saying that Binance didn't charge them anything for a listing, while Coinbase asked for $300 million, $50 million, $30 million, and "more recently" $60 million.

Coinbase has not yet responded to Sun or Cronje's statements.

Meanwhile, the Kaspa Industrial Initiative (Kaspa Kii), a foundation dedicated to promoting the Kaspa (KAS) token, published an open letter to Coinbase on Monday night, demanding "transparency and fair listing practices for Kaspa (KAS) on Coinbase."

The foundation highlighted how Armstrong's claim on free listings contradicts public reports, "raising serious questions about potential material misrepresentations under securities laws."

OPEN LETTER TO COINBASESubject: Request for Transparency and Fair Listing Practices for Kaspa (KAS) on CoinbaseAs a foundation dedicated to promoting Kaspa (KAS), the Kaspa Industrial Initiative (Kii) is writing this open letter to respectfully request clarification regarding… https://t.co/g7XV4sknGh pic.twitter.com/xvF4ea2njl

Kaspa Kii also said that it has repeatedly attempted to engage with Coinbase for a KAS listing but has not received a response as of Monday night. It urged Coinbase to improve its Asset Hub process "to be genuinely inclusive of all legitimate cryptocurrency projects."

Ahead of Kaspa Kii's open letter, Kaspa's Global Ambassador, Luke, called out Armstrong for directing token listing seekers to an "outdated" link.

"How should people navigate this overly complicated process if you can't even provide the correct URL in your knowledge base?" he wrote.

Ironically, the page you referenced is outdated, @brian_armstrong. The correct link for those who want to list is not https://t.co/GJ1W0Uzs8R, but rather https://t.co/FVICN8Onhe. How should people navigate this overly complicated process if you can’t even provide the correct URL… pic.twitter.com/5SQa2nOg2I

PundiX CEO, Zac Cheah, also shared his experience, stating that Coinbase didn't charge any listing fees or ask for security deposits for the listing of the PUNDIX and FX tokens.

In our case, what Brian said is true.

We have listed two tokens $PUNDIX and $FX on @coinbase and were never charged any listing fees nor asked for security deposits. https://t.co/jRA2MCty6u

One commenter said "it's all about the product," suggesting that projects asked for security deposits or listing fees have had problems with their tokens.

Coinbase did not immediately respond to IBT's request for comment.

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