Crypto trade Bybit has denied claims that it expenses $1.4 million to checklist a token on its platform, following allegations made by a social media consumer with over 100,000 followers.
On April 14, X consumer “silverfang88” accused the trade of demanding thousands and thousands from initiatives in listing charges. The consumer additionally alleged that Bybit used key opinion leaders (KOLs) to silence college students who got trial contracts by way of the platform’s Campus Ambassador program.
Bybit CEO Ben Zhou denied the allegations, asking the social media consumer to supply proof backing the claims. Zhou added that the crypto area has been chaotic due to rumors posted with out proof.
Supply: Ben Zhou
Bybit denies $1.4-million listing price accusation
In an announcement despatched to Cointelegraph, a Bybit consultant clarified the necessities for listing on the crypto trade.
Based on Bybit, the trade requires three issues from initiatives: a promotion funds, a safety deposit and an analysis course of.
“Initiatives are anticipated to allocate promotional funds for consumer engagement actions, although authorized constraints forestall exchanges from holding tokens straight,” the consultant instructed Cointelegraph.
Bybit stated it asks for a deposit of $200,000–$300,000 in stablecoins to make sure promotional targets are met. Penalties could apply if the targets will not be reached.
Aside from the promotional funds, the trade stated its listing course of consists of kind submissions, inside voting, analysis and a listing evaluate assembly. The consultant instructed Cointelegraph:
“Evaluations focus on fundamentals and danger controls, together with onchain knowledge, tackle authenticity, use instances, consumer distribution, venture worth, token valuation, worth seize mechanisms and workforce credentials.”
Associated: Bybit integrates Avalon through CeFi to DeFi bridge for Bitcoin yield
Consumer claims Bybit supplied trial contracts to college students
Along with the listing price allegations, the X consumer claimed that Bybit had supplied trial contracts to college students below its 2024 Campus Ambassador program and used KOLs to suppress complaints.
The account shared a Campus Ambassador program run by the buying and selling platform in 2024 and stated the problem was associated to this system.
Zhou responded to these claims as nicely, once more calling for proof. “Please present proof if Bybit has carried out something improper,” he wrote on X.
The trade has not responded on to the particular claims associated to its ambassador program on the time of publication.
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Cointelegraph by Ezra Reguerra Bybit denies $1.4M listing price, school promo accusations on X cointelegraph.com 2025-04-14 14:44:49
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