DigiByte Founder Comes Up with Arguments Against Binance’s Listing Requirements

4 min read

On 9 October 2018, DigiByte founder decided to speak about his previous connection with the world’s largest cryptocurrency exchange (by market cap) Binance.

Jared Tate, an important personality within the crypto space and the founder of DigiByte (DGB) shared with Twitter followers his previous experience with Binance as well as the vision on its latest announcement made on 8 October- Binance revealed that it will donate the company’s fees to charity.

The exchange received a lot of comments regarding its strict requirements for listing new cryptos. As stated by Jared, DGB has had all the chances of being listed on the Binance platform ever since it was launched in 2017, it even received a promise that Binance will manage this. The community supported the project by filling out and influencing Binance to list the crypto asset.

Prior to listing, there were some legal and financial documents to be made by DGB. Jared revealed that after he declined to pay the exchange’s fees, Binance removed the DGB project from the waiting list.

It is said that Binance imposed crypto projects to invest millions of dollars in order to be listed on the trading platform.

Here are the tweets worth mentioning:

“1/8 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.”

“2/8 Several key members of the DGB community were accused of being Chinese spies last fall in WeChat groups attempting to undermine CZ… Groups none of us were ever part of or aware of since none of us use WeChat. Major miscommunication here.”

“3/8 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.”

“4/8 Many members of the DigiByte community repeatedly filled out multiple “applications” of listing for binance jumping through many ridiculous and unprofessional hoops that are completely hypocritical considering projects they later added.”

“5/8 Throughout the fall of 2017 and beginning of 2018 several fraudulent ICO’s were added, pumped and dumped on binance. Further entrenching and frustrating many DigiByte community members.”

“6/8 Here is a detailed written example of specific isntances of this pump and dump activity:https://medium.com/@edwardpumps/sys-pump-dump-on-binance-21c54596bbad”

“7/8 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.”

“8/8 I was told this weekend if I “publicly” apologized to CZ for my “mistakes” of refusing to pay a bribe and calling out P&D activity they “might consider adding DGB” in a few months.”

At the time of writing, DigiByte is traded at $0.025343 and has a market cap of $276,280,491.

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