The CEO of the world's largest crypto exchange, Binance, hopes others will follow his decision to donate all listing fees to charity and make them completely transparent.
According to the statement, starting Monday, Binance will not only donate all fees to charity for the “greater good,” but will also refuse to set a minimum amount, allowing the developers to determine it themselves. Projects whose tokens are currently pending on Binance may update their applications and change their amounts in light of the new circumstances. Information will be available to users in press releases from the Blockchain Charitable Foundation.
A large donation amount does not guarantee or in any way affect the results of our token selection process. Binance will continue to use the same high standard for its listing selection process, the statement said.
According to Changpeng Zhao, the platform has recently been criticized by many for the allegedly exorbitant fees it charges for listing altcoins. However, Binance CEO believes that these are unfounded accusations. According to him, the main question is not how much does it cost to list on Binance, but whether you have a good coin.
Binance is working with the Blockchain Charitable Foundation to address the funding gap for the United Nations Development Funding Program for developing countries. The fund was created to explore the potential of blockchain technology.
For the same purpose, Binance is planning a number of important meetings at the Blockchains for Sustainable Development forum, which will take place on October 24 in Geneva. The purpose of the forum is to unite leaders in the development of blockchain technology with philanthropists and heads of state to further use innovative technology for public good.
Binance continues to hold the position of the largest crypto platform in terms of daily trading volumes, with approximately $806.5 million in the last 24 hours. Last month, the company announced ambitious plans to launch ten new sites by the end of this year.
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