Binance Cleans House: New Listing Criteria Expose Blacklisted “Deal Brokers”

Binance has implemented significant changes to its token listing process, aiming to enhance transparency, tighten control, and eradicate fraudulent intermediaries that have troubled the exchange’s listing environment.

Key Takeaways

Binance has revamped its token listing process to improve transparency and eliminate fraudulent actors.
The exchange prohibits third-party intermediaries and has released a blacklist of those accused of fraud.
New listing standards aim to enhance visibility and quality for projects on the platform.
Concerns raised by founders regarding listing practices have prompted Binance to implement more structured processes and community oversight.

The leading cryptocurrency exchange has announced that third-party "deal brokers" are strictly banned from facilitating listings. Additionally, a blacklist of individuals and firms accused of misrepresentation has been released. This list includes BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z, indicating that legal action will be taken against those engaging in such activities.

New Listing Standards Aim to Boost Visibility and Quality on Binance

Binance has introduced new listing criteria that encompass Alpha, futures, and spot markets, creating a more structured and transparent framework for projects looking to gain exposure on the platform.

The Alpha platform by Binance specifically targets early-stage tokens, providing opportunities for distribution through Pre-TGE, Prime Sale, TGE community events, airdrops, and Booster programs, all aimed at helping projects build momentum before their full market launches.

Binance Alpha platform

Moreover, Binance’s contract platform enables users to engage with derivatives to hedge positions, establish long or short trades, or manage liquidity, while the spot platform remains the largest venue for direct trading and long-term holding of high-quality cryptocurrencies.

The exchange also offers initiatives like Launchpool, Megadrop, and HODLer airdrops to enhance visibility for new projects—especially those with strong progress, solid teams, and active communities.

Currently, Binance records $11.13 billion in 24-hour trading volume, which reflects a 28.2% decline over the same period last year. The platform supports 441 listed coins across 1,638 trading pairs.

Binance Overhauls Listing Process After Criticism of Speculative Tokens

These new standards seek to address several challenges that Binance has encountered over the last two years.

Previously, Binance announced token listings only hours before trading began, resulting in price spikes on decentralized exchanges followed by rapid sell-offs on Binance itself. This created volatility that negatively affected latecomers.

The exchange has also faced backlash for listing speculative or low-quality projects that failed to provide long-term value, leading to market losses and investor distrust.

Moreover, third-party intermediaries claiming to guarantee listings became a significant source of scams by misleading project teams and creating confusion around the legitimate application process.

These changes follow persistent concerns voiced by Binance founder Changpeng Zhao. In February 2025, Zhao described the listing process as fundamentally flawed, noting that the short time span between listing announcements and trading commencement created opportunities for quick price manipulation and undermined trust in the system.

To remedy these issues, Binance is introducing a more structured due diligence process, community co-governance voting for token listings and delistings, and a monitoring zone for projects that do not meet ongoing reporting or activity criteria.

Community members will now have a say on whether projects should remain listed, adding an essential layer of public oversight.

Crypto Founders Raise Concerns About Binance’s Listing Requirements

This overhaul coincides with significant controversies surrounding Binance's listing practices.

In October, CJ Hetherington, founder of the prediction market startup Limitless, alleged that Binance demanded 8% of his project’s token supply, plus an additional $2 million, to secure a listing. He also claimed that the exchange engaged in “dumping” tokens after the listing.

Initially, Binance responded with threats of legal action, labeling Hetherington’s claims as “false and defamatory.” However, the company later acknowledged some truth to the details concerning token allocations.

Despite the controversies, Binance asserts that it does not profit directly from listing fees. Allocated tokens are purportedly used for marketing, airdrops, and other user-benefitting initiatives, rather than for the exchange's profit.

Many crypto founders still see a Binance listing as incredibly valuable due to the exposure and liquidity it provides, though some have criticized the process as being “predatory” or excessively complex.