Following Binance’s announcement of its decision to donate 100% of its listing fees to charity, founder of Digibyte (DGB) Jared Tate has appeared to reveal his previous encounter with Binance when he attempted to get his DGB listed on the exchange.
He said Binance turned down the request to list Digibyte many times when they could not meet the rigorous financial and legal demands for listing. In addition, the DGB founder said he was asked to publicly apologise to CZ for “refusing to pay a bribe and calling out P&D activity” if he wants DGB to be listed in a few months.
Jared wrote a series of tweets in regard to his encounter with Binance, one of which is this:
“It’s time to set the binance record straight and let the world know the truth. The binance – DGB story starts with us refusing to pay the “listing fee” last summer/fall. And continuing to refuse to ever pay it for the last 12 months.”
In fact, Binance has been accused of charging exorbitant fees for getting listed by other cryptocurrency and related companies. For instance CryptoGlobe reported earlier this year that the exchange requested $2.5 million from Expanse, a blockchain startup for listing.
Jared said the exchange promised to list Digibyte last year following the exchange’s launch in 2017. Binance however turned around and gave some conditions which they had to meet to be listed. Needless to say Digibyte didn’t get listed because they refused to meet the conditions.
“Binance used our social media attention for the Citibank Tech4Integiry event in 2017 to gain attention for itself after first launching. Several twitter polls were won for DGB and a listing was ‘promised’ on several occasions.”
He also accused the exchange of listing “fraudulent” ICOs, an action which he said worsened the frustration of Digibyte members and not good for the industry’s future.
“Many of us realize this behaviour is not sustainable on any exchange and holds back the entire industry from really thriving. Nevertheless we attempted to “bury” the hatchet and encourage more positivity in the community.”
Contrary to Jared’s claims however, Binance in its “charity” announcement said it is making all listing fees transparent to encourage the wider adoption of cryptocurrencies and the action is only intended to boost the growth of the industry.
It is left ot the giant exchange to come out and defend its integrity if Jared’s allegations are true, which will be quite damaging to its reputation.