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- ExtraOrdinal Daily #119 | Binance Under Fire: CZ Admits Listing Process Is “Broken”
ExtraOrdinal Daily #119 | Binance Under Fire: CZ Admits Listing Process Is “Broken”
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10th Feb 2025 ||| Issue #119
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Table of Contents
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Todays Top Stories
Editor: @PhoenixxDown
The Obvious Has Finally Been Spoken Of
Binance has long been regarded as the most influential exchange in crypto, with a listing often seen as a major milestone for any token. However, its listing process has increasingly come under fire, and its recent decision to list $TST—a newly launched token with little community presence and only a few days of trading history—has reignited concerns.
Many believe that $TST received preferential treatment due to belonging to Binance’s BNB Chain and prior mentions by former CEO Changpeng “CZ” Zhao. Meanwhile, countless other projects with larger communities and stronger fundamentals continue to struggle for a spot on the exchange.
This perceived inconsistency has raised fresh questions about Binance’s listing criteria and whether the process is truly fair.
A Broken System?
For years, Binance listings were seen as a catalyst for price surges, with traders anticipating a pump as soon as a new token was added.
Do you remember any coin recently that pumped after being listed on Binance?
$TST
— LANGERIUS (@langeriuseth)
9:10 AM • Feb 10, 2025
But that era seems to be fading. Instead of long-term growth, newly listed tokens often experience extreme volatility, insider-driven price action, and sharp sell-offs that leave retail investors at a disadvantage. Even CZ himself acknowledged the issue, tweeting:
“As an observer, I think the Binance listing process is a bit broken. They announce, then list 4 hours later. The notice period is necessary, but in those 4 hours, the token prices go high on DEXes, and then people sell on CEX…”
The problem is compounded by concerns over potential information leaks. Market participants have pointed out that price movements often begin well before the official four-hour notice window, suggesting some traders may have early access to listing details.
As Andrey Nayman noted, “If you analyze the price and volume of the most recently listed tokens, you will notice a similar pattern: the movement often starts much earlier than four hours before the listing.”
@GiggleAcademy For retail investors, listing on Binance is seen as the peak of good news, followed by a sell-off.
There is a saying in the crypto community about getting rich: "As soon as a new token contract goes live on Binance, just short it without hesitation."
CZ, what’s your take on… x.com/i/web/status/1…
— DD (@Daram_DD)
5:24 AM • Feb 10, 2025
Additionally, traders have begun treating Binance listings as shorting opportunities rather than bullish events. A common phrase circulating among crypto investors is:
“As soon as a new token contract goes live on Binance, just short it without hesitation.”
This shift reflects the growing belief that Binance listings now serve as exit liquidity for early investors rather than a fair price discovery mechanism.
Retail traders, often the last to gain access to these tokens, are frequently left holding the bag as large holders dump their positions almost immediately.
Inconsistent Listings Raise Red Flags
Adding to the controversy is the apparent inconsistency in Binance’s selection process.
Coin Hunter reviewed recent listings and found that many did not align with Binance’s own stated criteria, which emphasize strong tokenomics, product-market fit, and organic community growth. Yet projects with little to no track record—such as $TST—continue to get listed, while other well-established projects are left waiting.
I researched the Binance listing criteria.
❓When I look at the latest listings, they hardly meet any of the criteria. If the listing criteria are not going to be followed, why does this list exist?
binance.com/en-TR/support/…Tokenomics:
🔹Significant token allocation reserved for… x.com/i/web/status/1…— Coin Hunter (@bycoinhunter)
11:43 AM • Feb 10, 2025
The $TST listing is particularly concerning because it was not only fast-tracked but also listed on Binance Spot, while other meme coins were relegated to Perpetual Futures, a market known for relentless shorting pressure. It seems, however, not even that could save $TST from the 70% drawdown it is currently enjoying.
A Path Forward: How Binance Can Restore Confidence
Despite the criticism, Binance has the opportunity to reform its listing process and regain trust. Even CZ himself has proposed potential solutions, suggesting that centralized exchanges should take inspiration from decentralized exchanges to improve liquidity management and price stability. Some ideas include:
Simultaneous Listing with Liquidity Provision: Binance could provide substantial liquidity at launch to prevent extreme price volatility.
Incentivized Liquidity Programs: Encouraging users to add liquidity to trading pairs could help stabilize order books and prevent manipulation.
Integration with DEX Liquidity: Exploring cross-chain solutions could create a healthier price discovery process and reduce listing-related speculation.
Ultimately, Binance must evolve.
The space has changed, much of this due to Binance’s actions, and its current listing model is showing signs of failure. Without reform, Binance risks further alienating its user base and diminishing the value of its once-coveted listings.
Whether Binance can adapt and regain credibility remains to be seen, but it’s encouraging to see CZ speaking out about the very obvious problems.
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Top Posts | Speculation Is Ramping Up as Leonidas Teases a Huge Announcement for $DOG
Something’s happening tonight.
Too many signs lining up.@okx deleted their listing AMA post.
@LeonidasNFT teased a big $DOG announcement.
Tonight’s Ordinals Show is at 11:30—same time as the AMA was ( 7:30 PT = 11:30 pm)
If you’re holding $DOG, you don’t want to miss this.… x.com/i/web/status/1…— Ca$hLa₿卓倫 (@cashlabzl)
7:10 AM • Feb 10, 2025
Top Posts | ICYMI, OMB Put an Advert in the New York Times This Past Weekend
As a New Yorker, I was reading the @nytimes and came across this page.
OMB in the NYT wasn’t in my cards for 2025.
— Nick (@tominator76)
7:56 PM • Feb 9, 2025
Top Posts | Peddy Provides Some Further Updates For $ME Holders
$ME pumped like crazy yesterday.
Now the team improved communication and shared some important updates.
A full breakdown 🧵👇
— peddy (@peddyalpha)
1:02 PM • Feb 10, 2025
Top Posts | Today in the Solana Trenches: The President of the Central African Republic Launched a Shitcoin
Today, I stand before you once again with a message of gratitude. The launch of $CAR has been a success!
I want to personally thank each and every one of you, our community, our supporters, and those who believe in our vision. We are building for the long term!
— Faustin-Archange Touadéra (@FA_Touadera)
1:00 PM • Feb 10, 2025
Top Posts | Saylor Has Been Buying Bitcoin Again
$MSTR has acquired 7,633 BTC for ~$742.4 million at ~$97,255 per bitcoin and has achieved BTC Yield of 4.1% YTD 2025. As of 2/09/2025, @Strategy holds 478,740 $BTC acquired for ~$31.1 billion at ~$65,033 per bitcoin.
— Michael Saylor⚡️ (@saylor)
12:48 PM • Feb 10, 2025
Top Posts | Meanwhile, Hedge Funds Are Shorting $ETH
What is happening with Ethereum?
Short positioning in Ethereum is now up +40% in ONE WEEK and +500% since November 2024.
Never in history have Wall Street hedge funds been so short of Ethereum, and it's not even close.
What do hedge funds know is coming?
(a thread)
— The Kobeissi Letter (@KobeissiLetter)
11:32 PM • Feb 9, 2025
Top Posts | Developments With the Opensea Airdrop, and the Rumors for Claiming Are Crazy (If True)
Looks like OpenSea airdrop rumors are starting to spread.
But some of the claim requirements are kinda funny:
> Users must KYC
> 18+ to claim
> VPNs not allowedSome of these feel unnecessary, like the 18+ rule. Does it really matter?
Btw, be careful and don’t click on any… x.com/i/web/status/1…
— Choze👽 (@AlwaysBeenChoze)
2:35 PM • Feb 10, 2025
Daily Bites: Today’s Top Articles
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Todays Markets
Ordinals
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Looks like the tactical moaning from Friday and Saturday’s issues did the trick, with a strong green wave sweeping across most of the top 10 Ordinals today.
Quantum Cats and OMB both post around 12% gains, while Natcats climbs into the top 5 for the first time in a while after one dedicated cat enjoyer swept nearly a quarter of a Bitcoin’s worth of them.
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CENTS is up over 100% today, possibly fueled by the news that Trump has ordered the discontinuation of new penny production.
Given the political and historical significance of the penny, this has likely sparked collector interest in CENTS, making it a play on scarcity and cultural relevance. We’ve seen similar narratives drive Ordinals in the past—whether this one has legs remains to be seen, but it’s catching attention today.
Runes (Bitcoin Memecoins)
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Lo and behold, Runes are up on a day when Ordinals are too! Sensational stuff.
$DOG and $BDC are leading the pack with 14% and 15.5% gains, as speculation ramps up ahead of an X Space scheduled around the time this is being published.
BDC, being the leading cat token on BTC, is likely benefitting from that narrative. Meanwhile, if the rumors of $DOG getting listed on OKX are true, it might be one to watch next. Here’s the link to the Space:
Repost if you will be attending @TheOrdinalShow today!
— Leonidas $DOG 🧡 OKX (@LeonidasNFT)
6:19 AM • Feb 10, 2025
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Further down the list, it’s a mixed bag, but unsurprisingly, the long-term Runes play, Uncommon Goods, is sitting at 7th place.
The current cripplingly low transaction fees have made minting these a great bet over the past few weeks. The mempool is still between 1 and 2 sat/vB, so if you’re looking for a long-term speculative mint, there’s still time. This has been one of WhiteCoco’s alpha calls for a while now.
Finally, in 10th spot, yes—that’s yet another fake $DOG Rune surfacing. This time, they replaced the O’s in "Moon" with Q’s. The enemy class is not composed of impressive people.
Todays Opportunities
Giveaways
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There is currently one raffle live, so join the Discord below and make sure you have notifications on so you don’t miss out!
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