Coinbase is set to list BNB Chain's native token, BNB, the fourth-largest crypto asset by market cap.
The move comes after increased scrutiny of the exchanges' listing standards, prompted by a comment from Base founder Jesse Pollak.
Binance was not spared, with CJ Hetherington accusing the company of seeking a share of its tokens before listing.
Coinbase (COIN) plans to list BNB, the native token of the Binance ecosystem powering the BNB Chain, following market-wide criticisms around centralized exchange listing standards.
Coinbase to list BNB after top crypto exchanges face backlash on listing standards
Crypto exchange Coinbase has added BNB, the fourth-largest crypto asset by market cap, to its official listing roadmap, the exchange revealed in an X post on Wednesday.
Coinbase Markets stated that the launch of trading for BNB will depend on the availability of market-making support and adequate technical infrastructure. It added that a separate announcement will be made once these conditions are fulfilled.
The announcement comes amid increased scrutiny over how centralized exchanges approve new tokens for listing. Jesse Pollak, founder of the Ethereum Layer-2 network Base, stated that exchanges should charge 0% to list new tokens. The statement invited a response from crypto trader Yazan, who called Pollak's comment "meaningless" unless Coinbase lists BNB.
However, the drama didn't begin there. Over a week ago, Arca CIO Jeff Dorman accused Coinbase of inconsistent standards, claiming the platform lists some of the "absolute worst assets ever created, while ignoring the best ones."
Notably, Coinbase isn't the only exchange to have faced criticism. Binance faced similar criticism after Limitless Labs CEO CJ Hetherington accused the company of seeking token allocations in exchange for listings.
Hetherington stated that Binance requested up to 8% of his company's token supply, along with a $2 million BNB security deposit for a potential spot listing. He outlined that the demands included airdrops, marketing allocations, liquidity provisions and deposits tied to Binance's affiliate and holder programs.
Binance denied the allegations in a now-deleted X post, describing them as "false and defamatory" and clarified that it does not profit from token listings.
The exchange added that any deposits required from projects are fully refundable within one to two years and serve as a safeguard to deter fraudulent or low-quality tokens from entering the platform.
Beyond the company's listing standards, Binance also faced criticism over the $19 billion crypto liquidations from last weekend, with participants claiming the exchange purposefully liquidated several positions. Other experts claim a malfunction in Binance pricing oracles caused the liquidation.
The claims surfaced as the exchange rolled out its "Together Initiative," a $400 million relief fund aimed at supporting traders affected by losses across its ecosystem during Friday's market dip.
BNB is down over 2% in the past 24 hours while COIN closed trading with a 1.5% gain on Wednesday.
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