Crypto Exchange Bybit has refused to assert that it calculates 1.4 million US dollars for listing a token on its platform. After the accusations of a social media user with over 100,000 followers.
On April 14th, the X user “Silverfang88” accused the exchange of demanding thousands and thousands of projects within the listing fees. The user also claimed that Bybit used necessary opinion leaders (KOLS) to silence students who had received test contracts within the platform campus.
Ben Zhou, CEO of Bybit, denied the allegations and asked the user of the social media to supply evidence of the support of the claims. Zhou added that the crypto room was chaotic as a result of rumors without evidence.
Source: Ben Zhou
Bybit refuses $ 1.4 million
In a explanation sent to CoinTelegraph, a Bybit representative has clarified the necessities for listing the crypto exchange.
According to Bitbit, the exchange needs three things from projects: an promoting budget, a deposit and an evaluation process.
“It is predicted that projects promoting moon for activities to integrate users, although legal restrictions prevent exchange from sticking to tokens directly,” the representative told cointelegraph.
Bybit said it asks for a down payment of stable coins of 200,000 to 300,000 US dollars to be certain that the promoting goals are reached. Penalties can apply if the goals will not be achieved.
Apart from the promoting moon, the exchange said that his listing process includes form submissions, internal votes, research work and a listing of list. The representative told cointelegraph:
“Reviews deal with basics and risk controls, including onchain data, address authenticity, application cases, user distribution, project value, token evaluation, value creation mechanisms and team registration information.”
User claims by BYBIT provided study contracts for study contracts
In addition to the allegations of the listing fee, the X user claimed that BYBIT had submitted sample contracts as a part of his program of the Campus Ambassador and used Kols to suppress symptoms.
The account shared a campus ambassador program, which was carried out by the trading platform in 2024, and said that the issue is expounded to this system.
Zhou also responded to those claims and again called for evidence. “Please show evidence when Bybit has done something improper,” he wrote about X.
The exchange didn’t react on to the precise claims related to its ambassador program on the time of publication.
