Changpeng “CZ” Zhao, the founder of Binance, has issued an urgent warning to the cryptocurrency community regarding a surge in scam attempts. These scams involve individuals falsely presenting themselves as “listing agents” who claim they can facilitate the listing of projects on the Binance platform.
In a recent tweet, CZ cautioned that anyone asserting they can assist with a Binance listing is likely a scammer. This includes middlemen, consultants, and even purported current or former Binance employees. He urged members of the crypto community to report such individuals, emphasizing that they would be placed on a blacklist, which may be made public.
Despite his position, CZ clarified that he does not have the ability to influence listing decisions on Binance. The exchange adheres to a structured listing process, having previously rejected a request from a country”s president for preferential treatment.
In light of these developments, Binance shared information on how its listing process operates and reiterated community alerts concerning fraudulent impersonations. The exchange stated that it does not appoint or endorse any third parties to negotiate listings on behalf of projects. All communication regarding listings must come directly from the project”s core team to ensure legitimacy.
The listing process at Binance comprises three distinct stages: Binance Alpha, Binance Futures, and Binance Spot. Progression through these stages is contingent upon a thorough evaluation of various factors, including the project”s fundamentals, secondary market metrics, user engagement, and compliance standards.
Other critical assessment areas include product quality, real-world traction, utility, user metrics, business and revenue models, growth potential, tokenomics, team background, and technical risk evaluations.
In addition to the warning about scams, Binance has also announced the launch of its new on-chain borrowing feature, Web3 Loan, available on the Web3 Earn page. This feature allows users to access third-party protocols for borrowing cryptocurrency using their existing assets as collateral, thus unlocking liquidity and new earning strategies.
Furthermore, Binance is set to delist eight spot trading pairs on December 19, including AI/FDUSD, BICO/BTC, and others. This decision follows a previously announced system upgrade and testing for UTF-8 implementation on its Spot platform.
