Justin Sun Reveals Coinbase’s $500 Million TRX Demand Amid Controversy Over Listing Fees

On November 4th, COINOTAG News reported insights from Justin Sun regarding inquiries from Coinbase. Sun revealed that the cryptocurrency exchange requested a substantial payment of 500 million TRX, equating to approximately $80 million, alongside a demand for a $250 million Bitcoin deposit in Coinbase Custody aimed at enhancing operational efficiency. This contrasts sharply with Binance, which historically did not impose a listing fee.

Further context was provided by Andre Cronje, Director of the Fantom Foundation and CTO of Sonic Labs. In response to Coinbase CEO Brian Armstrong’s claim that the exchange charges no listing fee, Cronje highlighted discrepancies by noting that while Binance maintained a no-fee stance, Coinbase had sought listing fees multiple times, with requests documented at $300 million, $50 million, $30 million, and most recently $60 million. This raises important questions regarding transparency in the crypto exchange landscape.