Earlier today (October 8, 2018), Digibyte (DGB) founder Jared Tate went to Twitter to clear the air about his cryptocurrency’s history with Binance.
Jared’s tweets (reproduced below) come promptly after yesterday’s (October 8th) news that Binance will donate all listing fees to charity.
Despite donating their fees to charity, Binance has routinely been criticised for their rigorous listing requirements.
According to Jared, when Binance launched in 2017, DGB won many polls and was “promised” to be listed on the exchange. The community then went on to fill out applications to get listed, but like many exchanges, Binance gave DGB legal/financial documents that had to be filled out prior to listing.
Jared claims that DGB declined to jump over Binance’s hurdles, and even refused to pay Binance’s fees. The cryptocurrency was therefore never listed on Binance.
Binance has been rumored to require cryptocurrencies to pay them millions of dollars to be listed on the exchange. Previously this year, CryptoGlobe reported that Binance asked the blockchain startup “Expanse” to pay 400 BTC for listing. At the time this was worth $2.5M – quite the fee to get listed on an exchange.
The first tweet can be found here, but we’ll reproduce the entire thread below.
“1/8 It’s time to set the binance record straight and let the world know the truth. The binance – DGB story starts with us refusing to pay the “listing fee” last summer/fall. And continuing to refuse to ever pay it for the last 12 months.
2/8 Several key members of the DGB community were accused of being Chinese spies last fall in WeChat groups attempting to undermine CZ… Groups none of us were ever part of or aware of since none of us use WeChat. Major miscommunication here.
3/8 Binance used our social media attention for the Citibank Tech4Integiry event in 2017 to gain attention for itself after first launching. Several twitter polls were won for DGB and a listing was “promised” on several occasions.
4/8 Many members of the DigiByte community repeatedly filled out multiple “applications” of listing for binance jumping through many ridiculous and unprofessional hoops that are completely hypocritical considering projects they later added.
5/8 Throughout the fall of 2017 and beginning of 2018 several fraudulent ICO’s were added, pumped and dumped on binance. Further entrenching and frustrating many DigiByte community members.
6/8 Here is a detailed written example of specific isntances of this pump and dump activity:https://medium.com/@edwardpumps/sys-pump-dump-on-binance-21c54596bbad
7/8 Many of us realize this behaviour is not sustainable on any exchange and holds back the entire industry from really thriving. Nevertheless we attempted to “bury” the hatchet and encourage more positivity in the community.
8/8 I was told this weekend if I “publicly” apologized to CZ for my “mistakes” of refusing to pay a bribe and calling out P&D activity they “might consider adding DGB” in a few months.”
Digibyte has a market cap of $311M, and currently trades at $0.0285 on YoBit.