Key Insights:
- CZ thinks Coinbase’s plan to list BNB is a good choice
- CZ advocated for more BNB Chain project listings on Coinbase
- Kraken touts itself as an OG in listing BNB
Binance founder and former CEO Changpeng Zhao (CZ) has reacted to reports that Coinbase is planning to list Binance Coin (BNB). CZ argued that listing BNB, the 3rd largest crypto by market cap, “should be a no brainer.”
He also urged Coinbase, a rival top crypto exchange in the U.S., to list more projects on the BNB Chain.
CZ Responds to Coinbase Listing BNB
Taking to the X platform, CZ responded to a post from Tron founder Justin Sun, seeking his opinion on Coinbase’s plans to list BNB.
Responding to the post, CZ began by thanking industry peers for their support. He is likely referring to Coinbase and other entities in the crypto industry that are now recognizing the value of BNB.
CZ went on to state that Coinbase’s decision to list BNB is an obvious choice. He added that not listing BNB would be a missed opportunity for Coinbase.
The Binance founder thinks the listing could help Coinbase attract more users, boosting its revenue and relevance.
He went on to highlight the key strengths of the BNB coin, which include strong liquidity, high volume, and a robust ecosystem.
Indeed, BNB has a high level of trading activity, making it easy to buy or sell without major price swings. The BNB trading volume is currently standing at $5.23 billion, indicating strong market demand.
However, contrary to CZ’s comments, Tether (USDT) currently ranks as the third-largest cryptocurrency, displacing BNB from this position. USDT has a market capitalization of $181.3 billion, outpacing that of BNB, which is pegged at $166 billion.
Still, BNB has an expanding ecosystem. The BNB coin powers the Binance Smart Chain (BNB Chain) and supports a wide range of decentralized applications.
CZ Urge Coinbase to List More BNB Chain Projects
In a follow-up post, CZ advocated for more BNB Chain project listings on Coinbase. This is a call for deeper ecosystem integration, positioning the BNB Chain as a vibrant hub for Decentralized Finance (DeFi).
Besides DeFi, the BNB Chain is also excelling in other areas, such as the memecoin sector. Memecoins on BNB Chain-based decentralized exchanges recently recorded over $6 billion in intraday trading volume.
Back to CZ, he emphasized that Binance has already listed several Base projects. Base is a Layer-2 network developed by Coinbase in 2023. CZ uses this analogy to highlight the collaborative spirit of Binance amid growing backlash over the listing strain by the exchange.
He added that, to his knowledge, Coinbase has yet to list a single BNB Chain project, despite it being a more active chain.
CZ clarified that his comment is not financial advice, but a genuine recommendation tied to the ongoing discussion on openness and inclusivity.
The former CEO believes Coinbase would also benefit from listing BNB Chain projects.
Kraken Wades in on BNB Listing
Kraken shared a playful, slightly cheeky response amid the discussions about Coinbase listing BNB.
Kraken highlighted its earlier announcement on April 22 regarding the live trading of BNB on its platform.
At the time, Kraken announced that it had enabled BNB withdrawals and deposits for its users.
Kraken also enables spot trading with pairs including BNB/USD, BNB/USDC, BNB/EUR, and BNB/USDT. This allows users to buy, sell, or swap BNB against fiat and stablecoins directly on the platform.
The recent comment suggests Kraken is ahead of the curve, having already listed BNB months ago, while Coinbase is just catching up with its roadmap.
It also indicates a subtle flex, positioning Kraken as proactive in embracing high-liquidity assets like BNB.
At press time, the BNB price was trading at $1,186, down 0.5% from the previous day.
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey’s articles has been featured on Cryptonews and Coingape, among others.
