Ah, the South Korean cotillion of cryptocurrency known as Upbit has taken to the stage to refute allegations most scandalousāthat it levies some sordid brokerage fees for token listings! With a flourish worthy of a melodrama, the exchange has summoned Wu Blockchain to present not just proof, but perhaps a delightful revelation, should they desire to profit from unfounded claims.
In their grand proclamation, Upbit has declared that the decisions regarding trading support are conjured through an intricate internal review process, entirely devoid of financial grease. In a tone that can only be described as comically grave, they caution users to beware of dubious intermediariesāthose charming rogues peddling in fraudāthreatening legal repercussions that would make even a playwright blush.
In other words, dear reader, Upbit insists that its illustrious listings emerge from the mists of thorough evaluation rather than the tawdry allure of financial transactions. Tokens cannot, alas, simply toss coins like confetti and prance onto the platformās pedestal!
Listing fees – The Potent Elixir of Controversy
As if scripted by a playwright with a penchant for drama, this latest uproar ensued from a series of audacious tweets by Wu Blockchain, who have rather gallantly accused multiple projects of doling out fees to intermediaries akin to purchasing theatre tickets to make their grand entrance onto Upbit and its rival, Bithumb.
According to Wu Blockchainās rather juicy exposition, it appears that intermediary fees scuttled upwards of a staggering $10 million for Upbit, with the ever-dramatic Bithumb trailing at a modest $2 million. It seems some of these intermediaries are all too intimately linked to Upbitās shareholders and market makers, creating a tapestry of intrigue befitting a sprawling epic!
SCOOP: Several projects told WuBlockchain that they paid huge intermediary fees to have their tokens listed on South Korea’s largest cryptocurrency exchanges, Upbit and Bithumb. The fees were approximately US$10 million and US$2 million respectively. The intermediaries areā¦
ā Wu Blockchain (@WuBlockchain) March 20, 2025
The report paints a picture most curious, suggesting that some projects, rather than paying a sum determined by mere number, opted to present a percentage of their token booty ranging from 3% to 5% to secure their beloved listings.
Wu Blockchain, ever the diligent investigator, reached out to a cavalcade of seven projects, with three denying any involvement in this glitzy fee affair. Quite the dramatic twist!
In the wake of Upbit’s proclamation, Wu Blockchain, ever the mysterious figure in our tale, has altered its declarations, claiming it must cloister itself in secrecy to protect its sources. Ah, the intrigue deepens! šµļøāāļø
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2025-03-20 20:34