🏷️Coinbase and Binance Spark Listing Fee Drama

GM Defiers!

Coinbase and Binance are accused of charging hefty listing fees. However, the exchanges claim the funds in question relate to their respective Earn and Launchpool platforms.

Solana is spending six times more than Ethereum in token inflation for every $1 of fee revenue generated by the network. 87% of Solana’s cumulative fees were generated in 2024.

Crypto markets dropped for a sixth day on the eve of the U.S. presidential election. BTC and ETH dipped 1%, while SOL and DOT were relatively unchanged.

Also, web3 developers are migrating from the U.S. and Europe to Asia, and IMX tanks after Immutable gets a Wells Notice.

✍️ In today’s newsletter:

Do Coinbase and Binance charge hefty listing fees?
ETH spends $1.28 per $1 of revenue while Solana spends $7.62
Markets drop on election jitters
Asia emerges as the top region by web3 developer population
SEC hits Immutable with Wells Notice

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🤔Coinbase and Binance Face Backlash Over Alleged Listing Fees

Web3 projects are accusing Binance and Coinbase, two of the largest centralized exchanges, of charging heavy fees for new token listings. Coinbase insists token listings are free, while Binance says it requests a share of a token’s supply for launchpool deployments.

💰Ethereum Spends $1.28 Per $1 of Fee Revenue, But Solana Pays Six Times As Much

Ethereum emitted $2.65 billion worth of ETH and raked in $2.06 billion in fee revenue this year. For comparison, SOL inflated by $3.26 billion while Solana generated $428 million in fees.

📉Crypto Markets Drop for Sixth Day Ahead of U.S. Elections

Cryptocurrency markets are on track for a sixth day of losses on the eve of the U.S. presidential election. Notwithstanding the lackluster price action, digital asset investment products recorded over $2 billion of inflows in the past week, boosted by hopes of a Trump victory.

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‍✈️Developers Are Leaving the United States and Europe for Asia

Asia is now the largest region by crypto builders with 35% of web3 developers. North America’s developer population has shrunk to 23% from 45% in 2015, while Europe is at 30% after peaking above 40% in 2017.

📉IMX Token Plummets After Immutable Receives Wells Notice

Immutable received a Wells Notice from the SEC on Oct. 31, indicating the regulator has launched an investigation into the web3 gaming-focused project. IMX is down 21% over the past seven days amid the drama.

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