Binance and Hyperliquid Clash Over Listing Practices
The debate between Binance and Hyperliquid has intensified in the crypto community. Binance’s co-founder, Changpeng Zhao (CZ), defended the exchange’s listing policies. He said reputable projects should not pay to get listed.
On X, CZ stated, “If your project is strong, exchanges will race to list your coin. If you have to beg an exchange to list, then you need to ask yourself why.” He explained that exchanges use different models based on their size and strategy. Some charge fees, while others require user airdrops or deposits to prevent scams.
Claims of Binance Listing Fees and Hyperliquid’s Response
Discussions on X claimed Binance asked for 8% to 10% of a token’s supply for listings. Crypto analyst Ibrahim highlighted the $WAL token case, suggesting Binance’s listing approach hurt its market performance.
Another commentator, Crypto with Khan, noted that Binance provides liquidity. However, many projects struggle with organic demand and rely heavily on centralized exchange exposure.
Hyperliquid responded by emphasizing its open system. They said, “On Hyperliquid, there is no listing fee, no listing department, and no gatekeepers.” Anyone can launch a spot asset by paying a small gas fee in HYPE tokens. Deployers can earn up to 50% of trading fees from their spot pairs.
CZ Denies Binance Ties to Hyperliquid and Criticizes Transparency
CZ denied any current investment ties between Binance and Hyperliquid. He confirmed that Hyperliquid founder Jeff Yan joined Binance Labs’ incubation program in 2018 with a startup called YZiLabs, which failed to launch. CZ said he had limited contact with Yan since then.
He also criticized Hyperliquid’s fully transparent on-chain order book. CZ said it exposes trading strategies, which traders want to keep private. He made these remarks during an October 10 interview on CounterParty TV.
This debate highlights the growing divide between centralized and decentralized exchanges. It also shows that fairness, clear rules, and trust remain key concerns as the crypto industry matures.
