Earlier on the Arab Bitcoin website, we discussed the news of adding and listing the digital currency (STX) on the Binance platform:

After the news of its addition on the Binance platform… Learn about the Blockstacks project and the STX cryptocurrency

Some reports showed that the “Blockstack” project provided the Binance platform with 833 thousand STX units, equivalent to 250 thousand dollars, to accept the inclusion of “STX” coins for trading on the platform.

Meanwhile, Benassen announced that it will not impose any fees on the “Blockstack” project.

On the contrary, a Binance spokeswoman told Source That the listing fee refers only to fees associated with the technical costs of acquiring the tokens listed on the platform – a fact that Binance excludes in its original press release.

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For the $250,000, the CEO of Blockstack called it a “long-term payment.”

As the CEO of Blockstack noted in an email:

This long-term push aims to pay attention to the “Blockstack” ecosystem by incentivizing Binance to include Stacks over many years and aligns well with our long-term focus.

The Marketing Fee is a joint marketing campaign that we intend to run later.

Again, it is not a “listing fee” but a marketing campaign that we plan to launch in the near future

The additional marketing fee totaled $100,000, according to the filing.

To raise the ire of the followers and wonder about the nature of all these contradictory statements with each other.

According to a former member of the marketing department of Nasdaq, he takes the view that:

“I worked directly with the team that marketed the initial public offerings and worked on listing new companies on the stock exchange.

With this background, the interpretation of Binance and “Blockstack” doesn’t make much sense to me.

Where and when a company’s shares are offered, an exchange such as “Nasdaq” or “NYSE” will charge a lump sum that includes a wide range of services including primary public services, marketing, investor relations and indices.

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Binance and Blockstack can come to terms with the $250,000 fee.

I called and spoke to several financial executives over the age of 20 and they came to the same conclusion:

It is the listing fee by another name.

Another CEO of a US-based exchange said:

They don’t use financial engineering, they use word engineering

Observing the listings on the trading platforms, he sees the amount of marketing that takes an important aspect in determining the listing price as a whole.

The cryptocurrency market is very similar to stock exchanges where “NYSE” and “Nasdaq” compete fiercely for companies to trade on their sites and platforms and offer attractive offers for those wishing to list their companies’ shares.

Larry Tap, a financial services researcher for 30 years, said:

If you look at the NASDAQ and NYSE listing agreements, a lot of it is just marketing

So why are Blockstack and Binance so conservative about fees?

According to one stock exchange executive, it may have to do with the fact that the term “listing fee” in US stocks has long been criticized especially in the crypto market, so fear of reputational retaliation may be a factor as well.

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A year ago, Binance announced that it would donate 100% of its listing fees to a charity.

Projects will be required to suggest their own ‘listing fee’ number which will be donated by Binance upon acceptance.

When asked to “donate recent listing fees to a charitable organization,” a Binance spokesperson replied:

“No, it wouldn’t, because this is not an listing fee”?.

Read also:

Binance Founder: We will use an offshore company to allow cryptocurrency exchange for local currencies

Learn about the Blockstack project… the first digital currency fully licensed by the SEC