The rivalry between Binance and Coinbase has flared up again. The trigger was Coinbase’s recent move to add BNB, Binance’s native token, to its official listing roadmap for the first time in years. This decision caused a stir—not only because of its symbolism, but also due to the reaction of Changpeng ‘CZ’ Zhao himself.
Coinbase finally opens the door for BNB
The addition of BNB to the listing roadmap came as a surprise. Previously, Coinbase avoided assets linked to competitors, even though BNB is among the top 5 cryptocurrencies by market cap.
The decision came a week after criticism from Arca CIO Jeff Dorman, who accused Coinbase of a ‘selective listing policy’ and supporting ‘dubious tokens while ignoring strong ecosystems.’
After the news broke, CZ reacted calmly—thanking Coinbase, but then making an open appeal: ‘If you recognize BNB, support other BNB Chain projects as well.’
CZ: ‘Binance already lists Base projects—it’s time for reciprocity’
In a post on X, Zhao reminded that Binance has already added several tokens created on Base—Coinbase’s blockchain. These include Brett (BRETT), analytics platform Kaito (KAITO), trading tool Aixbt (AIXBT), and Base-wrapped Horizen (ZEN).
‘We are open to competitors’ ecosystems. Binance supports Base projects. But Coinbase has not yet added a single token launched on BNB Chain. Even though it’s a more active network,’ CZ wrote.
Zhao emphasized that his position is not about mutual favors, but about fairness and cross-chain equality. According to him, if the industry claims to be open, then blockchains should not exclude each other.
Data confirms: BNB Chain activity is higher
According to DeFiLlama, the total value locked (TVL) on BNB Chain exceeds $8.76 billion, while Base’s network has about $4.99 billion.
Analysts note that this difference reflects a real imbalance between ecosystem activity and Coinbase’s attention. Despite BNB Chain’s more developed infrastructure, the American exchange has long ignored its projects.
Now, adding BNB to the listing roadmap could be the first step toward softening this stance and moving Coinbase to a more pragmatic approach.
‘This is not a rivalry, it’s a matter of fairness,’ CZ emphasized.
Ideological duel of two giants
For many market participants, this story is not just a dispute over a token, but a struggle for ecosystem recognition. Binance seeks to establish BNB Chain as the largest decentralized platform, while Coinbase, in turn, promotes its own Layer-2 network Base, aiming to keep users within its infrastructure.
The confrontation has now moved beyond trading volumes and fees—it’s about influencing industry standards and who will become the ‘gateway’ to the Web3 economy.
CZ on listing fees: ‘Strong projects shouldn’t pay’
Alongside this dispute, CZ touched on another topic—listing fees on exchanges. In a separate post, he urged projects not to spend money on negotiations for listings if they are confident in their value.
‘If your project is strong, exchanges will compete to add you,’ Zhao wrote. ‘If you have to ask, you should ask yourself: who is really bringing value?’
He noted that different platforms use different models—from paid listings to deposits and airdrops—but all should be guided by the principle of mutual benefit and trust in the product.
BNB Chain breaks activity records
CZ’s arguments are backed by statistics. According to Nansen, the number of daily active addresses on BNB Chain reached an all-time high—3.46 million. This is higher than the previous record set in December 2023.
In the past 30 days, the network processed over 500 million transactions, up 151% from the previous month. By this metric, BNB Chain is second only to Solana, which exceeded 1.8 billion operations in the same period.
This data confirms Zhao’s thesis: strong networks create demand on their own—and ultimately, it is users, not exchanges, who decide which projects deserve attention.
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