Binance Warns Against Fake Listing Agents in Transparency Update

Binance warns projects about fake listing agents, details official application paths, blacklists scammers, and reinforces transparent, compliant crypto listing standards

Binance issued a transparency update warning projects about fraudulent listing agents. The exchange emphasized direct applications only. It was pointing to an increased activity of scams against founders. As a result, Binance repeated its commitment to structured listings. The announcement has the goal of protecting users, ensuring compliance and improving long-term project quality.

Binance Clarifies Listing Framework and Blacklists Fake Agents

According to Binance, internal audits revealed several blacklisted entities. These include BitABC, Central Research, May or Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. Binance said these parties falsely stated that they are listing agents. Such representations deceived founders seeking exchange access.

Data provided by Rootdata indicates that Central Research invested in multiple crypto projects. These include Fireverse, Nebula Revalation, AKI Network, Fusionist and Artyfact. It’s notable that only one company, Fusionist, trading as ACE, was able to attain a listing on Binance. Binance emphasized that investments never affect the listing results.

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The exchange explained that it does not authorize brokers and intermediaries. All applications should come directly from project teams. Binance has confirmed that there are no listing fees. Furthermore, listing promises is always fraudulent if they are guaranteed. These warnings are after an influx of attempts to impersonate people across crypto markets.

To enhance transparency, Binance detailed its listing alternatives clearly. The framework covers Binance Alpha, Futures and Spot markets. Each pathway is appropriate for different development stages. This process is intended to be a structured approach to addressing the interface between innovation and investor protection and regulatory requirements.

Binance Alpha is an early discovery platform. It is supporting pre-tokens projects through Pre-TGEs, Prime Sales and airdrops. Additionally, community programs like Booster will help to build early momentum. Binance Futures offers access to the derivative markets. Users can hedge portfolios or have a view on the market. Futures contract without holding tokens.

On the other hand, Binance Spot offers the direct asset ownership. Users can purchase, sell and hold listed tokens. Projects may also access Launchpool, Megadrop or HODLer Airdrops.

Binance Details Listing Requirements and Application Rules

Binance has a rollout process for listing. Projects usually move from Alpha to Futures, Spot. In each stage, there is a performance evaluation. Criteria include product quality, utility, traction and user engagement. Compliance and user protection continue to be leading considerations.

Additional assessments are covered for tokenomics, team background, and technical risks. For circulating tokens, Binance considers liquidity, valuation, and distribution. Regulatory obligations involve all cases. Sometimes, Futures listings can take place during Alpha featuring.

Binance explained the applications for all listings. Spot, Futures, and Alpha have their own forms. Only founders or members of the core team can apply. Applicants have to provide KYC information. Third-party submissions are strictly prohibited.

The exchange advised projects against using intermediaries. Any use discovered leads to instant disqualification. Moreover, offending projects are faced with blacklisting in future applications. However, teams reporting scammers might get priority reviews.

Binance reiterated that it never endorses listing agents. All communications should require direct communications with core executives. External consultants are given no special consideration. Under Binance’s policy, transparency is non-negotiable.

Overall, Binance presented the update as protective rather than restrictive. The objective of the exchange is to build trust within the ecosystem. Clear rules to support sustainable growth and quality listings. With the evolving maturity of crypto markets, structured governance has become more critical.

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