DigiByte Founder Jared Tate Talks Binance Listing Woes, Dangers of the Status Quo

Published on by Cointele | Published on

Jared Tate, the founder of DigiByte, once among the most popular coins traded on the exchange, sat down with Cointelegraph to share about his concerns following the debacle.

The acrimonious relationship between Tate and the larger forces of Binance traces back to a different era in the crypto industry.

It was in this environment that DigiByte first entered as a prospective listing on the new exchange, with Tate advocating for its addition to the growing library of assets offered by Binance.

Binance showed interest in using DigiByte's DigiSign technology as part of its launch process, Tate said, following China's exchange shutdown.

Tate alleged that Binance expected substantial fees in the hundreds of thousands of dollars to be paid for the privilege of listing DGB on the popular new platform.

Fast-forward to Fall 2019, when, according to Tate, Binance again approached him about listing DigiByte on the new U.S.-based trading platform, Binance.

Tate wondered why Binance would approach him at all, considering their past negative experiences.

"At one point, Poloniex was probably the best exchange in the world. It is very disappointing to see that this new group took over and to see the way they've conducted this whole thing." What really triggered Tate, he said, was when he saw a since deleted Poloniex tweet reading "Just buy TRON." In addition, tweets promoting free listings for all projects built on TRX "Did not bode well," said Tate.

Regarding the sudden delisting of DGB, Tate responded, "These exchanges, like Poloniex, have made millions of dollars trading DGB over the last 5 years." On a number of occasions from 2015 to 2018, DigiByte was the asset with the highest trading volume on Poloniex.

In response to the Poloniex fallout, the DigiByte community was overwhelmingly supportive, said Tate.