Key Insights
- Binance says listings must come from founders only and rejects all outside agents.
- The exchange blacklisted fake listing brokers and offers rewards up to five million dollars.
- An old insider trading scandal prompted demands for tightened controls and whistleblowing.
Binance has issued a formal statement clarifying how digital asset projects can seek listings on its platform, while warning against individuals and firms falsely claiming to act as intermediaries. The exchange stated that all token listing applications must be submitted directly by project founders or core team members, with no role for outside agents.
The announcement follows internal reviews that identified several parties misrepresenting themselves as “Binance listing agents” and charging fees in exchange for alleged guarantees. Binance stated that no legitimate representative is authorised to solicit payments for listings and urged projects to rely only on official channels.
New Listing Rules Aim to Block Fraud
The exchange outlined a structured, three-stage framework covering Alpha, Futures, and Spot markets. Under the system, projects must apply through official Binance channels tied to each market segment. Applications submitted by brokers, consultants, or outside agents are automatically rejected.
Binance stated that the policy is designed to reduce scams, strengthen enforcement, and protect project teams from financial loss. The exchange claimed that its platform has 441 listed tokens distributed in 1,638 trading pairs.
Binance reported that the new listing structure is designed to enhance trust among users and other market participants by promoting proper standards and uniformity in its implementation.
Blacklist and Whistle blower Incentives
As part of its enforcement activity, Binance said that it blacklisted several entities and individuals based on internal audits. The names include BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. The exchange alleged that these entities deceived themselves by portraying themselves as having an association with Binance or control of its listing process.
Binance has reported the launch of a whistle blower reward scheme that can pay up to $5 million in the event of an affirmed piece of information that leads to enforcement action. The exchange further stated that it will initiate legal action against fraudulent brokers who are identified after substantiated reports are provided.
Insider Trading Case Shapes Enforcement Push
Binance also referenced a December 7 insider trading incident involving an employee connected to the @BinanceFutures account. The employee promoted a newly created meme coin less than one minute after its on-chain launch at 05:29 UTC. The token rose 150% within an hour, reaching a $6 million market value and generating $16 million in trading volume.
Moreover, Binance suspended the worker within 24 hours, contacted law enforcement, and paid $100 000 to five whistle blowers who reported the activity.
