CZ Challenges Coinbase: Listing Wars Heat Up

- Binance founder CZ urges Coinbase to list more BNB Chain projects. - The exchange rivalry sparks debates over token listing practices and transparency. On October 16, 2025, CoinDesk reported that Binance founder Changpeng "CZ" Zhao publicly challenged Coinbase's token listing practices, highlighting the growing tensions between the two leading centralized cryptocurrency exchanges. The friction intensified after Coinbase added Binance’s native token, BNB, to its listing roadmap, which reignited discussions about transparency and fairness in exchange listing policies. This development followed earlier remarks from Jesse Pollak, founder of Coinbase’s Layer 2 Base network, that exchanges should not charge fees to list projects. His comment was a response to unverified rumors that Binance had requested a high listing fee for a Base ecosystem project, an allegation Binance denied. Shortly after Pollak's statement, Coinbase announced its intention to list BNB, the fourth-largest cryptocurrency by market capitalization, explaining that the timeline for trading activation depends on infrastructure readiness and market support. In response, CZ urged Coinbase to list more projects from the BNB Chain. He pointed out that Binance had already listed several tokens from the Base ecosystem, whereas Coinbase had yet to support projects from the BNB Chain. On October 16, Binance founder Changpeng "CZ" Zhao posted on X (formerly Twitter), emphasizing collaboration over competition: “Not a trade. Just recommending, given we are on the topic of being open, inclusive, etc.” This exchange underscores a key difference in listing strategies between the two platforms. Critics have accused Binance of lacking transparency in its token selection process. In contrast, while Coinbase presents its model as more transparent and systematic, the platform faces challenges with slower processes and a strong focus on Ethereum-based assets. The crypto community has dubbed this ongoing rivalry the "CEX listing wars," as the conflict reflects a broader competition for industry leadership, credibility, and trading liquidity. This clash also sheds light on the shifting balance of power among centralized exchanges. Amid the intensified dispute, the price of BNB rose over 3% earlier in the week, reaching a high of $1,370.55 before correcting downward. According to CoinMarketCap on October 16, BNB was trading at $1,174.91 as of 15:13 UTC. This price reflects a modest 0.092% change in 24-hour trading activity.