Binance responds to the accusation of "charging project parties 8% tokens," stating that the claims are false and defamatory

ChainCatcher news, Binance responded to the allegations made by Limitless Labs CEO CJ Hetherington, who claimed that Binance demanded approximately 8% of the project's tokens and additional collateral, stating that the claim is "false and defamatory," and reserves the right to take legal action.

In its statement, Binance emphasized that it does not profit from the token listing process and does not charge listing fees; any cash or token collateral is typically refunded within a 1 to 2 year period. Binance also pointed out that Hetherington's unauthorized disclosure of confidential communications between the two parties is illegal and has undermined the industry's basic trust in confidential information. Previously, Limitless was supported by Coinbase Ventures and the Base Ecosystem Fund. Some industry insiders have claimed that Binance has a long-standing practice of requiring project parties to allocate a portion of their tokens for platform activities, but the claims from both parties have not yet been independently verified.