Binance Faces Backlash After Limitless CEO Exposes Alleged Token Listing Demands

CJ Hetherington, the CEO behind upstart Base-native prediction market Limitless, caused an uproar on Crypto Twitter today after unveiling Binance's slew of listing demands for a Limitless token.

What's the Scoop

• High Listing Price: According to Hetherington, Binance demanded a combined 9% of the Limitless token for user airdrops, marketing fees, and BNB HODLer programs; TVL guarantees on Pancake swap; market maker incentives; and a $2.25M security deposit in exchange for a spot market token listing on the crypto exchange.
• Binance Response: In response, Binance Customer Support stated that Hetherington was attempting to "mislead the community and attack the integrity of Binance’s listing process," claiming the exchange does not profit from the listing process and criticizing Hetherington for the "unauthorized disclosure of confidential communications with Binance."
• Personal Beef: After Hetherington posted that Binance co-founder Changpeng “CZ” Zhao had blocked him on Twitter, CZ fired back, posting, “Wow, this guy is really clout chasing, but what a loser. I didn’t even know who he was until he posted this fake image saying I blocked him.”
• Backer Support: Public figures from Coinbase – a competitive exchange and early Limitless investor – derided Binance for its conduct, with Base's Jesse Pollak tweeting that it should cost 0% to list on an exchange and sympathizing with Hetherington outrage.
• Absent NDA: Hetherington maintains that he did not sign any non-disclosure agreements that would prohibit the disclosure of alleged Binance listing terms.