CZ vs. Coinbase: Binance Founder Demands Recognition for BNB Listings: “Why Ignore the Stronger Chain?”

A new round of rivalry has erupted between Binance founder Changpeng “CZ” Zhao and Coinbase after the ￰2￱ quietly added BNB , Binance’s native token, to its official listing roadmap, ending years of silence around one of the world’s largest ￰3￱ a week earlier, Arca CIO Jeff Dorman had accused Coinbase of inconsistent listing standards, arguing that it supported “some of the absolute worst assets” while ignoring top-performing tokens from rival ecosystems. Dorman’s criticism intensified following a separate dispute between Binance and Limitless Labs, a firm backed by Coinbase ￰4￱ from @binance : > 1% airdrop on day 1, alpha listing > 3% further airdrops in 6 months > 1% for "marketing" at Binance full discretion > provide 100% of TVL for token pool on Pancake Swap ($1M+) > $250k security deposit > 3% reserved for BNB HODLer programme > $200k… — CJ (@cjhtech) October 14, 2025 Then, in a move that caught the crypto world by surprise, Coinbase added BNB to its listing roadmap , showing potential support for its biggest rival’s token for the first ￰5￱ announcement immediately drew a response from CZ, who acknowledged the listing with a mix of gratitude and subtle ￰6￱ up to ￰7￱ for the support from industry ￰8￱ a 3rd largest market cap crypto should be a ￰9￱ liquidity, volume and ￰10￱ listing it is a loss for the exchange themselves. #BNB , keep building! ￰11￱ — CZ BNB (@cz_binance) October 16, 2025 But the story didn’t end ￰12￱ later challenged Coinbase directly, urging the exchange to go beyond BNB and start listing other BNB Chain–based tokens if it truly upholds a neutral and unbiased listing ￰13￱ message was clear: if Coinbase can finally embrace BNB, then the era of selective chain exclusion should ￰14￱ exchange rivalry that once defined early crypto competition now appears to be evolving into a battle over ecosystem recognition, with CZ positioning Binance’s BNB Chain as the “stronger, more active network” and daring Coinbase to acknowledge ￰15￱ Publicly Challenges Coinbase: ‘List More BNB Chain Projects!’ In a post on X, Zhao called on Coinbase to list more BNB Chain projects, arguing that Binance had already supported several tokens built on Coinbase’s Layer-2 network, Base.

“Binance has listed several Base projects. I don’t think Coinbase has listed a single BNB Chain project yet,” CZ wrote. “And it’s a more active chain.” Moreover, I would urge Coinbase to list more @BNBChain projects. @Binance has listed several Base projects. Don't think Coinbase has listed a single @BNBChain project ￰16￱ it's a more active ￰17￱ a ￰18￱ recommending, given we are on the topic of being open,… ￰0￱ — CZ BNB (@cz_binance) October 16, 2025 CZ emphasized that his suggestion wasn’t a demand for reciprocity but a call for cross-chain inclusivity, insisting that Coinbase’s engagement with the BNB ecosystem would benefit both platforms and their users.

Indeed, Binance has already listed multiple Base-native projects, including meme coin Brett (BRETT), analytics platform Kaito (KAITO), and Aixbt (AIXBT), alongside the Base-wrapped version of Horizen (ZEN). These listings, which CZ has referred to, show Binance’s willingness to support projects across ecosystems, even those associated with a competitor. Notably, data supports CZ’s claim about BNB Chain’s stronger network ￰19￱ to DeFiLlama , BNB Chain currently holds over $8.76 billion in total value locked (TVL) across its decentralized finance ecosystem, outpacing Coinbase’s Base network, which stands at roughly $4.99 billion in TVL.) ￰20￱ you are a project complaining about listing airdrops or "fees" (to users), Don't pay ￰21￱ your project is strong, exchanges will race to list your ￰22￱ you have to beg an exchange to list,… ￰1￱ — CZ BNB (@cz_binance) October 15, 2025 He argued that exchanges have different models; some list everything, some charge fees, and others require deposits or airdrops for users, but none should be vilified.

“If your project is strong, exchanges will race to list your coin,” he said. “If you have to beg an exchange to list, you need to ask yourself who is providing value to whom.” Industry analysts say that for exchanges, excluding top-performing tokens like BNB carries more long-term cost than short-term gain by eroding liquidity access, user engagement, and market credibility. Meanwhile, the BNB Chain ecosystem continues to post record activity, indicating CZ’s argument that demand for strong projects drives listings, not the other way ￰23￱ to data from Nansen, daily active addresses on BNB Chain hit an all-time high of 3.46 million on Monday, passing the previous record of 3.44 million in December 2023.