Bybit denies $1.4M listing fee, school promo accusations on X

Bybit, a cryptocurrency exchange, refutes allegations of a $1.4 million token listing fee levied against projects. A social media user accused Bybit of this exorbitant fee and of silencing student complaints regarding a Campus Ambassador program. Bybit's CEO, Ben Zhou, demanded evidence to support these claims, highlighting the harmful nature of unsubstantiated rumors in the crypto market. Bybit clarified its listing requirements, which include a promotional budget, a security deposit (between $200,000 and $300,000), and a thorough evaluation process. The exchange emphasized that the deposit is to ensure promotional goals are met, and penalties exist for unmet targets. The evaluation process focuses on project fundamentals and risk assessment, including technical and team aspects. The social media user also alleged that Bybit used key opinion leaders (KOLs) to suppress negative feedback from students involved in the Campus Ambassador program. Zhou requested evidence for these claims as well. Bybit has yet to directly address these specific accusations regarding the ambassador program. The exchange maintains that its listing process is transparent and based on objective criteria.