CZ Pushes Coinbase to List 10+ Binance Chain Tokens After BNB Listing

Binance founder & CEO changpeng "cz" Zhao has finally gotten a response from Coinbase on their long-awaited decision to list Binance...

Quick overview

  • Binance CEO Changpeng Zhao expressed satisfaction with Coinbase's decision to list Binance Coin (BNB) after years of rivalry.
  • Zhao emphasized the need for fairness, questioning why Coinbase hasn't listed more projects from the BNB chain despite Binance supporting Coinbase projects.
  • The delayed listing of BNB by Coinbase has sparked debate, with critics highlighting the lack of transparency in listing decisions.
  • Despite the listing, BNB's price fell nearly 7%, indicating a potential shift in liquidity and waning interest among traders.

Binance founder & CEO changpeng “cz” Zhao has finally gotten a response from Coinbase on their long-awaited decision to list Binance Coin (BNB) . This move comes after years of a pretty intense rivalry between the two biggest players in the crypto game. And to give credit where its due, cz is being pretty gracious. He says he’s pleased that Coinbase made a smart move by adding the world’s 3rd largest cryptocurrency by market cap to their platform, heaping praise on “excellent liquidity volume & ecosystem” of BNB.

But then of course he’s quick to shift the focus to fairness, wondering out loud why Coinbase isn’t listing more bnb chain projects – think all the projects that have been built on top of their (Coinbase’s) base network. CZ points out that while Binance has done the same for Coinbase projects, they haven’t seen reciprocity from Coinbase & the BNB chain is still a real hub of activity.

“This is no big ask, just a suggestion” Zhao says, pointing out that if every exchange included more projects in their listings the whole crypto space would benefit not just one or two platforms.

Coinbase’s BNB listing decision sparks a lot of debate

Coinbase did eventually add BNB to their roadmap but only after loads of criticism from investors who were asking why this top digital asset had been left out for so long – with some very valid concerns in my opinion. The timing of the listing has obviously raised some eyebrows & gotten people talking about the competitive game between Coinbase & Binance.

Adding fuel to the fire some people in the industry have accused exchanges of charging secret listing fees – CZ is having none of that, he says Binance doesn’t charge for listings & only projects with a strong community get the nod naturally.

Some of the key points driving this whole controversy include:

  • Why did Coinbase take so long to list BNB even though it has a market cap of $175 billion?
  • A claim that while Binance supports projects built on the base ecosystem, Coinbase has yet to list a BNB chain token.
  • Growing calls from crypto users for exchanges to come clean on how they decide which projects get listed & when.

BNB takes a hit despite the listing hype

Oddly enough BNB’s price barely reacted to the good news – in fact it fell nearly 7% in a week & is now trading at around $1,190 – low of $1,151 & a high of $1,203 in the last 24 hours.

The analysts reckon it was just profit takers moving in & a shift in liquidity because people were shifting their funds over to Coinbase anticipating better access to the token. Trading volume took a 42% tumble in a day too which suggests people are losing interest fast.

All this just goes to show that while the BNB listing is a step in the right direction & all, cz is right in saying that truly making progress in crypto is about getting more projects involved in the ecosystem, not just listing a few tokens here & there.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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