Bybit Denies $1.4M Listing Fee and Student Trial Contract Allegations
Bybit Denies $1.4M Listing Fee Claims
Cryptocurrency exchange Bybit has refuted claims that it charges $1.4 million in token listing fees. The claims, posted by X user “silverfang88” on April 14, accuse the platform of charging exorbitant fees and muzzling dissenting voices from students involved in its Campus Ambassador program.
Bybit CEO Ben Zhou objected to the accusations and requested evidence. “The crypto space has been in turmoil because of rumors posted without evidence,” Zhou tweeted on X.
What Bybit Actually Requires for Listings
Bybit detailed its listing process in a statement. There are three things required by the exchange: a marketing budget, a security deposit, and a thorough project review.
“Projects are expected to budget promotion funds for user interaction activities,” a Bybit spokesperson explained, saying that legal restrictions prevent exchanges from holding project tokens.
Bybit said it imposes a security deposit of $200,000 to $300,000 in stablecoins. This is refundable but can be penalized if promotion goals are not met.
The entire listing process involves application forms, internal voting, research, and a final review meeting. Bybit’s review process involves fundamentals, onchain data, tokenomics, team credentials, and others.
Allegations About Student Trial Contracts
The X user also alleged that Bybit used KOLs (key opinion leaders) to silence students who took part in its Campus Ambassador program after they were given “trial contracts.” The program, the user claimed, was part of the issue.
Zhou again denied the allegation and requested proof. “Please present proof if Bybit did anything wrong,” he tweeted.
Bybit has made no direct comment on the Campus Ambassador allegations at the time of publication.
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Bybit Denies $1.4M Listing Fee and Student Trial Contract Allegations
Bybit Denies $1.4M Listing Fee Claims
Cryptocurrency exchange Bybit has refuted claims that it charges $1.4 million in token listing fees. The claims, posted by X user “silverfang88” on April 14, accuse the platform of charging exorbitant fees and muzzling dissenting voices from students involved in its Campus Ambassador program.
Bybit CEO Ben Zhou objected to the accusations and requested evidence. “The crypto space has been in turmoil because of rumors posted without evidence,” Zhou tweeted on X.
What Bybit Actually Requires for Listings
Bybit detailed its listing process in a statement. There are three things required by the exchange: a marketing budget, a security deposit, and a thorough project review.
“Projects are expected to budget promotion funds for user interaction activities,” a Bybit spokesperson explained, saying that legal restrictions prevent exchanges from holding project tokens.
Bybit said it imposes a security deposit of $200,000 to $300,000 in stablecoins. This is refundable but can be penalized if promotion goals are not met.
The entire listing process involves application forms, internal voting, research, and a final review meeting. Bybit’s review process involves fundamentals, onchain data, tokenomics, team credentials, and others.
Allegations About Student Trial Contracts
The X user also alleged that Bybit used KOLs (key opinion leaders) to silence students who took part in its Campus Ambassador program after they were given “trial contracts.” The program, the user claimed, was part of the issue.
Zhou again denied the allegation and requested proof. “Please present proof if Bybit did anything wrong,” he tweeted.
Bybit has made no direct comment on the Campus Ambassador allegations at the time of publication.
Read More
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