Tantalizing, unconfirmed rumors are bouncing from crypto Twitter, and this time it’s Expanse co-founder Christopher Franko leading the charge. Mr. Franko insists he was quoted 400 BTC, roughly $2.5 million as of this writing, for a token listing on the exchange Binance. On the cross accusation that he is lying, Mr. Franko further insisted “I literally have nothing to gain from this.”
Expanse’s Franko Tweets Binance is Charging Millions for a Token Listing
Expanse’s Christopher Franko took to Twitter this week, accusing popular cryptocurrency exchange Binance of quoting 400 BTC, $2.5 million at current prices, for token listings. As Mr. Franko tells it, “Just got a new @binance listing quote. 400 BTC,” he tweeted.
Binance is a relatively new international crypto exchange. Created summer of last year, the exchange has been on fire. Its CEO, Changpeng Zhao, is a hotshot figure in the space, appearing on splash pages for a long time, someone everyone wants to know more about. Binance is both an exchange and a token (BNB), which can lessen fees when used in conjunction — one of the first exchanges to use the “ICO model” now all the rage.
Rumors have followed it as long as Binance has been in existence, including moving from China to Japan and Taiwan. It is dogged by accusations of false liquidity, especially as it has become one of the most profitable exchanges with well over $1 billion in revenue.
Reaction came fast and furious to the idea of what Mr. Franko considered a form of extortion by Binance. A lot of immediate commentary was of disbelief. Mr. Franko then produced a screenshot of the offending email. Still more commenters cried hacking or rogue employees. Mr. Franko seemed to bristle not only at the expensive quote but by the fact the exchange didn’t respond. He tweeted again, “Ok, @cz_binance if you are being genuine that it really doesnt cost 400 BTC to list @ExpanseOfficial there, then send me a DM with a real quote so we can clear this up. I believe you are probably an honorable person and the people want to know you are who you say you are.”
Binance to Launch Decentralized Exchange
Mr. Franko further appealed to Reddit sub forums. His posts were deleted, moderated out of the discussion. Defenders of the exchange also seemed to deny Mr. Franko’s claims. He explained it was the exchange’s choice to make, “If binance wants to charge 400 btc to get listed on their exchange that is their right to do so. They appear to have the most volume in the world. Getting listed there does usually result in higher awareness, but if that is the case.. just own it. ‘ya its expensive’… why lie?”
Mr. Franko’s company, Expanse, “is an open blockchain platform forked from Ethereum that lets anyone build and use decentralized applications that run on blockchain technology. Like Bitcoin and Ethereum, no one controls or owns Expanse – it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Expanse was designed to be adaptable and flexible. It is easy to create new applications on the Expanse platform,” according to its website.
Interestingly, Binance announced around the same time its effort at a decentralized exchange. And a decentralized exchange was also a plea many commenters made to Mr. Franko’s issue with Binance.
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