The cryptocurrency exchange Coinbase requested 500 million TRX (~$80 million) and a $250 million bitcoin deposit from Tron founder Justin Sun for a listing. The businessman disclosed this on X.
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. https://t.co/faEgtGLLhW
— H.E. Justin Sun?(hiring) (@justinsuntron) November 4, 2024
He added that Binance listed his company’s digital asset for free.
Sun’s statement was a response to a post by Coinbase CEO Brian Armstrong, who mentioned free listings on the exchange.
The discussion was initiated by Moonrock Capital’s head, Simon Dedic. Referring to an unnamed Tier1 project valued at “almost nine figures,” he claimed that Binance allegedly demanded 15% of the total token supply after due diligence, followed by a listing offer.
SonicLabs co-founder Andre Cronje also complained about Coinbase’s listing fees. He stated that the platform asked for amounts ranging from $60 million to $300 million, without providing further details.
Binance charged us $0.
Coinbase has asked us for; $300m, $50m, $30m, and more recently $60m.
Lots of respect. But this is simply not true.
— Andre Cronje (@AndreCronjeTech) November 3, 2024
Previously, Sun was elected as the Prime Minister of the self-proclaimed microstate of Liberland.
In July, analysts at Arkham Intelligence estimated the entrepreneur’s wealth. According to their data, he holds digital assets worth $1.04 billion.