- Binance lists high-risk meme cash ACT and PNUT, each with Seed Tags and smaller market caps.
- Binance requires merchants to frequently take a danger quiz to commerce Seed Tag tokens like ACT and PNUT.
- Binance denies allegations of excessive itemizing charges as Coinbase additionally claims to cost excessive charges.
Binance introduced the itemizing of two new meme cash, Act I, The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), beginning November 11, 2024 at 10:00 UTC. This marks a departure for Binance, which generally lists tokens with market caps above $100 million.
This transfer means that Binance is increasing into riskier property, as each ACT and PNUT carry Binance's Seed Tag, indicating high-risk modern tasks. To handle this difficulty, the platform requires merchants to take a danger consciousness quiz each 90 days.
The tokens are meme cash constructed on the Solana blockchain, with the ACT/USDT and PNUT/USDT buying and selling pairs out there at launch. Binance customers can deposit these tokens instantly, with withdrawals opening on November 12, 2024 at 10:00 UTC.
Binance stated that withdrawal instances are topic to vary and might be tracked on the platform's withdrawal web page. Buying and selling robots and Spot Copy Buying and selling help shall be activated inside 24 hours of itemizing.
Issues About Binance Registration Charges and Insurance policies
Regardless of the itemizing of ACT and PNUT, issues have arisen concerning Binance's itemizing charges and necessities. Lately, allegations from the CEO of Moonrock Capital claimed that Binance required as much as 15% of a challenge's whole token provide as a situation of itemizing.
Additionally Learn: Binance Listings 2024: Solely 5 Tokens Present Optimistic Returns
He defined that it may value tasks between $50 million and $100 million to checklist on a centralized change. Binance co-founder Yi He denied the claims, stating that Binance's itemizing course of prioritizes transparency and thorough screening.
https://twitter.com/heyibinance/standing/1853103272715796668
Coinbase CEO Brian Armstrong additionally weighed in, providing a free asset itemizing by way of Coinbase's Asset Hub, whereas Andre Cronje, co-founder of Sonic Labs, publicly supported Yi He.
Cronje shared his expertise, noting that Binance charged $0 to checklist his challenge, contrasting with the alleged $30-300 million payment requested by Coinbase.
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