Coinbase is facing allegations of demanding exorbitant fees for token listings, with claims from Tron founder Justin Sun that the exchange requested $330 million to list TRX. Sun stated that Coinbase asked for 500 million TRX tokens, valued at around $80 million, along with a $250 million Bitcoin deposit for custody. These assertions challenge Coinbase’s public stance that asset listings are free, as stated by co-founder Brian Armstrong.

Additionally, Andre Cronje, founder of the Fantom Network, echoed Sun’s sentiments, revealing that Coinbase proposed various listing fees ranging from $30 million to $300 million for listing the Fantom token. In contrast, Cronje noted that Binance charged no listing fees, highlighting a significant disparity in practices between these leading exchanges. Binance has stated that it screens projects but does not impose listing fees, with all fees since 2018 reportedly going to charity.

The allegations have sparked a broader discussion within the cryptocurrency community about the sustainability of centralized exchanges (CEXs) and their listing policies. Critics argue that such high fees could prompt projects to migrate to decentralized exchanges (DEXs), where they might avoid these costs. Simon Dedic, CEO of Moonrock Capital, indicated that a shift towards DEXs seems inevitable as projects grow frustrated with current CEX structures.

The ongoing debate reflects the evolving dynamics of cryptocurrency trading platforms and the challenges faced by both CEXs and DEXs in catering to the needs of developers and investors. If these allegations are substantiated, they could further accelerate the trend of projects seeking alternative avenues for listing and trading their tokens.

Rapper Wiz Khalifa’s X account was reportedly hacked on November 3, leading to the promotion of a fraudulent memecoin called “WIZ.” The hackers falsely claimed that Khalifa was launching this memecoin for his 35.7 million followers. Initially, WIZ surged to a market cap of $3.4 million shortly after its launch but quickly plummeted to around $8,400 as early investors sold off their holdings.

Blockchain analyst ZackXBT linked this hack to the same individual responsible for a prior attack on Truth Terminal developer Andy Ayrey’s account, which involved promoting fraudulent tokens that netted substantial profits for the hackers. The hacker’s method of gaining control over Khalifa’s account remains unconfirmed.

Despite the swift deletion of the posts promoting the memecoin, concerns linger over the security of high-profile accounts on social media platforms. This incident underscores the need for better protective measures against such cyber threats in the crypto space.

As of now, it is unclear whether control of Khalifa’s account has been fully restored. The case highlights the growing trend of using celebrity accounts to manipulate cryptocurrency markets and the vulnerabilities associated with digital assets.

Kraken has launched a licensed broker service in Australia aimed at wholesale clients, marking its entry into the country’s crypto derivatives market. The new service, which became available on November 3, allows institutional and large-scale investors to trade crypto-based derivatives without requiring direct ownership of digital assets. Clients can apply for the service via the Kraken Pro app, which indicates the platform’s commitment to regulatory compliance while expanding its offerings.

The derivatives available through Kraken’s Australian broker include various options with multi-collateral support, enabling clients to manage risks effectively. The service supports collateral in fiat, stablecoins, and other cryptocurrencies, equipping traders with enhanced strategies for asset security. However, Kraken has cautioned potential investors about the inherent risks of trading in derivatives, which can result in losses exceeding initial investments.

This expansion highlights Kraken’s strategy to cater to the growing demand for advanced trading options among institutional clients in Australia. Jonathan Miller, Kraken’s general manager for Australia, expressed that the country has been pivotal in the exchange’s global operations and emphasized the importance of providing a licensed trading environment for advanced strategies.

As the cryptocurrency landscape evolves, Kraken’s move reflects a broader trend of exchanges aligning with local regulations while aiming to attract institutional liquidity. The development indicates a shift towards a more regulated environment for crypto trading, emphasizing the need for compliance and security in the rapidly changing market.