Last week, Binance announced that it would be listing Blockstack’s Stacks tokens (STX) on the exchange for a listing fee of “0 BNB”
Despite this, Blockstack paid Binance 833,333 STX tokens upfront (worth approximately $250,000 using Blockstack’s Reg A+ general offering price of $0.30 each) and agreed to pay Binance an additional 833,333 STX tokens annually “in consideration for the Stacks Token’s ongoing and future listing” as revealed in Blockstack’s SEC filings
Binance claims that this payment was not disclosed in its press release because the company only recognizes the fees associated with the technical integration costs of the tokens as “listing fees”
Although Binance promised last year that it would donate 100% of listing fees to charity, a spokesperson for the company said that Blockstack’s payments would not be donated “as this is not a listing fee”
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