Bybit’s $1.4M Listing Fee Drama: The Plot Thickens! 🍿

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So, here we are, folks! The crypto exchange Bybit is waving its hands in the air like it just doesn’t care, denying that it charges a whopping $1.4 million to list a token. This all started when a social media user, who clearly has more followers than I have friends, decided to drop this bombshell. 💣

On April 14, the user “silverfang88” took to X (formerly known as Twitter, because rebranding is all the rage) to accuse Bybit of demanding millions from projects for the privilege of being listed. And if that wasn’t juicy enough, they also claimed that Bybit was using some kind of secret society of KOLs (Key Opinion Leaders, not to be confused with K.O.L. from your favorite 90s sitcom) to hush up students who were part of their Campus Ambassador program. Sounds like a plot twist in a bad rom-com, right? 😱

Bybit’s CEO, Ben Zhou, stepped up to the plate, asking the accuser to back up their claims with actual evidence. Because, you know, in the wild west of crypto, rumors are like that one friend who always shows up uninvited to parties—chaotic and totally unnecessary. 🙄

Bybit’s Listing Fee: Not What You Think!

In a statement that was probably crafted with the utmost care (and maybe a sprinkle of sarcasm), a Bybit representative clarified what it actually takes to get listed on their platform. Spoiler alert: it’s not just a “please and thank you.”

According to Bybit, they require three things from projects: a promotion budget (because who doesn’t love a good marketing campaign?), a security deposit (because trust is overrated), and an evaluation process (cue the dramatic music). 🎶

“Projects are expected to allocate promotional funds for user engagement activities,” the rep explained, “though legal constraints prevent exchanges from holding tokens directly.” So, basically, they want you to throw a party, but they can’t come to the party themselves. Classic! 🎉

Bybit also mentioned they ask for a deposit of $200,000–$300,000 in stablecoins to ensure that promotional goals are met. And if you don’t hit those targets? Well, let’s just say penalties may apply. Yikes! 😬

But wait, there’s more! The listing process also includes form submissions, internal voting (like a reality show but with fewer roses), research, and a listing review meeting. The representative told CryptoMoon:

“Evaluations focus on fundamentals and risk controls, including onchain data, address authenticity, use cases, user distribution, project value, token valuation, value capture mechanisms, and team credentials.”

Campus Ambassador Program: The Plot Thickens!

Now, back to the drama! In addition to the listing fee allegations, our friend “silverfang88” claimed that Bybit had given trial contracts to students under its 2024 Campus Ambassador program and used KOLs to keep complaints on the down-low. Sounds like a high school drama, but with more crypto and fewer lockers! 🏫

The account shared details about the Campus Ambassador program and said the issue was related to that. Zhou, ever the gentleman, responded to these claims as well, once again asking for proof. “Please show evidence if Bybit has done anything wrong,” he wrote on X, probably while sipping a latte and rolling his eyes. ☕

As of now, Bybit hasn’t directly addressed the specific claims about its ambassador program. So, stay tuned, folks! This saga is far from over! 📺

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2025-04-14 18:01