CZ Claims “Coordinated Attack” as Binance Faces Fresh 8% Listing Fee Allegations
Changpeng Zhao dismisses criticism as a “coordinated attack” while facing allegations of 8% listing fees and lingering anger over the $283M October crash compensation.
Binance founder Changpeng Zhao (CZ) struck back at critics on Friday, dismissing a wave of backlash as a “coordinated attack” aimed at destabilizing market confidence. The defense comes as the exchange battles renewed scrutiny over its culpability in the October 10 market crash and explosive allegations regarding exorbitant token listing fees.
The “Buy and Hold” Flashpoint
The controversy ignited after CZ advised investors to “buy and hold” during volatility, a stance many retail traders found tone-deaf following months of losses. In a defiant post on X, Zhao claimed the subsequent outrage was manufactured.
“FUD doesn’t hurt the target. My followers increased. FUD hurts the market (ie everyone),” Zhao wrote, suggesting the narrative was being artificially amplified.
The timing is critical. Trust in centralized exchange leadership remains fragile following the October 10, 2025 crash, where technical failures on Binance, specifically involving oracle updates and asset depegging, contributed to a liquidation event estimated between $19 billion and $30 billion.
The 8% “Extortion” Allegation
While CZ plays defense on social media, a more structural threat has emerged. CJ Hetherington, CEO of Limitless Labs, publicly alleged that Binance demanded up to 8% of a project’s token supply to secure a listing. The breakdown reportedly included allocations for airdrops and a “security deposit” worth millions.
Binance has vehemently denied the claims, threatening legal action for the disclosure of confidential communications. However, the allegation has fueled a narrative that the exchange profits from retail exit liquidity while projects bleed supply to pay the “gatekeeper toll.”
October’s Ghost and Market Impact
The grievances are compounded by unresolved anger over the October compensation plan. While Binance paid out $283 million to cover specific losses from the USDe and WBETH depegging, critics argue this covers only 1% of the total damage, leaving thousands of retail users with zero recourse.
BNB struggled to find footing amidst the noise, trading at $848 (-4.15%) as sentiment wavered. The token remains 39% below its October 2025 all-time high, reflecting the broader hesitancy to re-engage with platform-native assets while systemic risks remain opaque.
