Bribery on Binance? DigiByte’s Jared Tate Blasts CZ Over DGB Listing Demands
DigiByte (DGB) founder Jared Tate has lifted the lid on his side of the story regarding the Binance-DGB listing fiasco that has played out over the last year.
Despite a 35th spot ranking by market cap, and a host of solid fundamentals, DGB has failed to gain a listing on Binance since the exchange launched in late 2017.
The DigiByte-Binance Story
DigiByte founder Jared Tate took to Twitter last night to vent his frustrations at a process which, according to Tate, amounts to attempts at bribery by the Binance exchange. Tate started off the eight-tweet account with:
“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.”
The next entry details an apparent misunderstanding that saw DGB’s team members mistakenly labelled Chinese spies owing to an exchange on social media app WeChat – despite none of them using the app.
That’s followed by an accusation that Binance ignored twitter polls in 2017 that showed a clear demand for DGB, while also accusing Binance of using DGB’s popularity to boost its own launch in the same year. Tate continued:
“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.”
Tate links to this account of an alleged Syscoin (SYS) pump by Binance from earlier this year.
Bury the Hatchet?
“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.”
According to Tate the story took yet another turn this weekend when he was told that DGB could attain a Binance listing…on the condition that he apologized publicly to CZ for his behaviour over the last year:
“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.”
The Binance Side
According to BusinessInsider, cryptocurrency exchanges often charge between $50,000 and $1 million dollars to list a coin on their platform. Binance has come under these accusations before, and Binance founder CZ’s thoughts haven’t changed:
“We don’t list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not “how much does Binance charge to list?” but “is my coin good enough?” It’s not the fee, it’s your project! Focus on your own project!”
The tit-for-tat between DGB and Binance looks set to continue for now. In the meantime, Binance has vowed to release details on all of their listing fees, and donate 100% of the proceeds of such fees to charity.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.