Binance Lists ACT and PNUT Meme Coins with Seed Tags

• Binance lists the dangerous meme cash ACT and PNUT, each with Seed Tags and smaller market caps.
• Binance requires merchants to repeatedly full a threat quiz to commerce Seed Tag tokens reminiscent of ACT and PNUT.
• Binance denies excessive claims for itemizing charges as Coinbase additionally claimed to cost excessive charges.

Binance introduced the providing of two new meme cash, Act I, The AI ​​​​Prophecy (ACT) and Peanut the Squirrel (PNUT), beginning November 11, 2024 at 10:00 UTC. This marks a departure for Binance, which generally lists tokens with a market cap above $100 million.

This determination means that Binance is increasing into riskier property, as each ACT and PNUT carry Binance’s Seed Tag, indicating high-risk modern initiatives. To handle this, the platform requires merchants to take a threat consciousness check each 90 days.

The tokens are meme cash constructed on the Solana blockchain, with the buying and selling pairs ACT/USDT and PNUT/USDT obtainable at launch. Binance customers can deposit these tokens instantly, with withdrawals starting on November 12, 2024 at 10:00 UTC.

Binance said that withdrawal instances are topic to vary and will be tracked on the platform’s withdrawal web page. Buying and selling bots and Spot Copy Buying and selling assist can be enabled inside 24 hours of the supply.

Issues about Binance’s itemizing charges and insurance policies

Regardless of the itemizing of ACT and PNUT, considerations have been raised about Binance’s itemizing charges and necessities. Just lately, allegations from the CEO of Moonrock Capital claimed that Binance was demanding as much as 15% of a undertaking’s whole token provide as a situation for itemizing.

Additionally learn: Binance Listings 2024: Solely 5 Tokens Present Optimistic Returns

He defined that this might value initiatives between $50 million and $100 million to checklist on a centralized change. Binance co-founder Yi He denied these claims, stating that Binance’s itemizing course of prioritizes transparency and thorough screening.

Coinbase CEO Brian Armstrong additionally joined in, providing a free asset itemizing by way of Coinbase’s Asset Hub, whereas Sonic Labs co-founder Andre Cronje publicly supported Yi He.

Cronje shared his expertise, noting that Binance charged $0 for itemizing his undertaking, versus the alleged $30 million to $300 million charges charged by Coinbase.