Binance, the top cryptocurrency trading platform by its daily trade volume, just made a big announcement regarding its Binance listing fees.

.@cz_Binance on solving The #LastMile Issue, ensuring transparency in #charity, and calling developers to help design @BinanceBCF’s new donation tracking platform. https://t.co/5FGoQbUbfx
— Binance (@Binance) October 9, 2018

Binance Listing Fees

Changpeng Zhao, Binance’s Founder, said that he wrote down the Blockchain Charity Foundation four years ago, but wasn’t able to execute it at the time. With Binance’s catastrophic growth last year, it seems the founder believes now is the perfect time to launch the charity foundation.

In addition to his charity initiative, the founder posted:

Hope others will follow. https://t.co/tBWvyAStd2
— CZ Binance (@cz_Binance) October 8, 2018

Binance holds one of the biggest order books in the world and starting yesterday, it will now donate all listing fees to its Charity Foundation. Another addition to this is that all fees will now be completely transparent.

The Binance trading fee announcement reads:

“Starting immediately, and going forward, we will make all listing fees transparent and donate 100% of them to charity. Project teams will still propose the number they would like to provide for a ‘listing fee,’ or now more appropriately called a ‘donation.’ Binance will not dictate a number, nor is there a minimum required listing fee.”

Pushback from Investors

Before the new rule went into effect, the previous listing fees and agreements were not transparent, and the exchange has kept investors in the dark.

One crypto enthusiast pointed that out by saying:

How about you make all the previous listing fees and agreements public?
Not doing so would indicate you have somETHing to hide 🤔
— ฿ITLORD❇️ (@Crypto_Bitlord) October 8, 2018

Zhao responded back by saying:

Our previous agreements have confidentiality clauses, we respect agreements.
— CZ Binance (@cz_Binance) October 8, 2018

Moving Forward

Unfortunately, the listing fee charity initiative didn’t start last year when new coins were being listed on Binance daily. Now, the movement within crypto is much slower, but I guess it’s the thought that counts.