Changpeng Zhao, the CEO of cryptocurrency exchange giant, Binance, released on Monday, October 8, 2018 “Binance will make a change to our listing fee policy. Starting immediately, and going forward, we will make all listing fees transparent and donate 100% of them to charity.” This announcement comes with Changpeng urging other companies to follow suit.
On Binance’s official blog, the currently listed digital assets will begin the donations to charities immediately, but developers can still dictate there on listing “charity” price with not minimum fee. The goal of this is to highlight Binance’s charity initiatives and to spread the adoption of blockchain technology “for the greater good”.
The company went on to state:
“A large donation does not guarantee or in any way influence the outcome of our listing review process.”
This news comes after a series of allegations, claiming that the world’s largest cryptocurrency exchange was charging developers looking to list their altcoins extreme fees. Christopher Franko, the developer of a blockchain platform called Expanse, had exposed on social media that apparently shows a Binance representative asking for 400 BTC to list the token, however Chengpeng has commented that this was fake news. Changpeng released the announcement on Twitter hoping to halt the negative with the new charity model.
“We don’t list shitcoins even if they pay 400 or 4,000 BTC,” Chengpeng tweeted.