- Binance lists high-risk meme cash ACT and PNUT with seed tags and small market caps.
- Binance requires merchants to finish common threat quizzes as a way to commerce seed tag tokens similar to ACT and PNUT.
- Binance denies claims 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 an exit for Binance, which usually lists tokens with market capitalizations above $100 million.
This choice means that Binance is increasing into riskier belongings, as each ACT and PNUT maintain Binance's seed tag, which signifies high-risk and progressive tasks. To deal with this, the platform requires merchants to go a threat consciousness quiz each 90 days.
The token is a meme coin constructed on the Solana blockchain and can have ACT/USDT and PNUT/USDT buying and selling pairs out there at launch. Binance customers can deposit these tokens instantly, and withdrawals will start at 10:00 UTC on November 12, 2024.
Binance stated that withdrawal instances are topic to vary and will be tracked on the platform's withdrawal web page. Assist for buying and selling bots and spot copy buying and selling will likely be enabled inside 24 hours of itemizing.
Considerations about Binance itemizing charges and insurance policies
Regardless of the listings of ACT and PNUT, issues have been raised about Binance's itemizing charges and necessities. Lately, Moonrock Capital's CEO claimed that Binance required as much as 15% of the challenge's complete token provide as a situation for itemizing.
Additionally learn: Binance itemizing in 2024: Solely 5 tokens confirmed optimistic returns
He defined that this might value between $50 million and $100 million to checklist a challenge on a centralized alternate. Binance co-founder Yi He denied these claims and stated Binance's itemizing course of prioritizes transparency and thorough vetting.
https://twitter.com/heyibinance/standing/1853103272715796668
Coinbase CEO Brian Armstrong chimed in, providing a free checklist of belongings by Coinbase's Asset Hub, and Sonic Labs co-founder Andre Cronje publicly supported Yi He.
Cronje shared his expertise, mentioning that Binance charged him $0 to checklist his challenge, in distinction to the purported $30 million to $300 million price that Coinbase demanded. did.
Disclaimer: The data contained on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any form. Coin Version isn’t accountable for any losses incurred on account of using the content material, merchandise, or providers talked about. We encourage our readers to conduct due diligence earlier than taking any motion associated to our firm.
