Coinbase has moved to include Binance’s BNB token on its official listing roadmap, intensifying competition and transparency debates between major crypto exchanges.
The decision followed heated discussions on X (formerly Twitter) about how tokens qualify for listings on leading platforms.
Online Debate Sparks Transparency Questions
The controversy began when Limitless Labs CEO CJ Hetherington shared a post comparing alleged listing requirements between Binance and Coinbase.
According to Hetherington, Binance required a “security deposit” of 2 million BNB — worth more than $2 billion — for a spot listing.
In contrast, he said Coinbase only required projects to “build something meaningful on Base,” the Ethereum Layer-2 network developed by the company.
The claim quickly went viral, drawing widespread scrutiny from crypto investors and developers.
Binance Pushes Back, Then Apologizes
Binance initially hit back with a since-deleted post, threatening legal action against Hetherington and describing his comments as “false and defamatory.”
The exchange emphasized that it does not charge fees for token listings.
However, in a follow-up message, Binance admitted its tone was too aggressive.
“While we stand by our position, the way we communicated was excessive and we sincerely apologize to our users, partners, and the wider industry,” the company said.
Coinbase Responds by Adding BNB
In a surprise move, Coinbase added BNB to its official roadmap the next day, signaling that it plans to list the token once compliance checks are complete.
Former Binance CEO Changpeng “CZ” Zhao praised the move, posting on X that he was “glad to see Coinbase take this step,” while encouraging the company to “list more BNB Chain projects.”
Although Zhao no longer manages Binance after stepping down in 2023 as part of a settlement with U.S. authorities, he remains its largest shareholder.
Reports suggest he controls around 94 million BNB, representing 64% of the token’s circulating supply, worth roughly $108 billion at today’s prices.
Exchanges Seek to Reform Listing Processes
Listing on a top exchange often triggers price surges and increased adoption, prompting growing scrutiny over fairness and transparency.
Binance has tried to make the process more democratic.
In March, it launched a “community co-governance” model allowing users to vote on token listings and removals.
This change came after CZ admitted the exchange’s listing system had been “a bit broken.”
Coinbase, meanwhile, has also been re-evaluating its procedures.
CEO Brian Armstrong said in January that with “1 million tokens a week being created now, and growing,” the company must adapt to manage the flood of new projects.
By September, Coinbase released a new listing guide outlining a “free and merit-based” evaluation process that includes both legal and business assessments.
BNB Holds Third Place in Global Rankings
As of Thursday, BNB remains the third-largest cryptocurrency with a market capitalization of roughly $160 billion.
Data from Nansen shows its price at around $1,149 per token.
The listing on Coinbase’s roadmap could further strengthen the token’s credibility, marking a rare moment of collaboration — or at least convergence — between two of the world’s biggest exchanges.