Bybit denies $1.4M listing fee, school promo accusations on X

Key Points

  • Bybit denies charging a $1.4 million listing fee, clarifying that it requires a $200,000–$300,000 security deposit for promotional activities.
  • The exchange's listing process includes promotion budget allocation, security deposit, and a thorough evaluation process focusing on project fundamentals and risk controls.
  • Bybit CEO Ben Zhou refutes allegations of using KOLs to silence students involved in the Campus Ambassador program, demanding evidence for the claims.

Summary

Crypto exchange Bybit has refuted claims of charging exorbitant listing fees, specifically a $1.4 million fee, as alleged by a social media user with a significant following. Bybit clarified that it requires a security deposit ranging from $200,000 to $300,000 in stablecoins to ensure projects meet promotional targets, with potential penalties for non-compliance. The exchange also outlined its comprehensive listing process which includes form submissions, internal voting, research, and a review meeting, focusing on project fundamentals, risk controls, and team credentials. Additionally, Bybit's CEO, Ben Zhou, responded to accusations that the platform used key opinion leaders to suppress complaints from students involved in its Campus Ambassador program, calling for evidence to substantiate these claims. The exchange has not directly addressed the ambassador program allegations at the time of publication.

cointelegraph
April 16, 2025
Crypto
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