On April 14, a social media user named “silverfang88,” with over 100,000 followers on X (formerly Twitter), accused the cryptocurrency exchange Bybit of charging a $1.4 million listing fee for tokens and of misusing its Campus Ambassador program to silence students with trial contracts.
Ben Zhou, Bybit’s CEO, quickly responded to these accusations, strongly denying both claims and asking the user to provide proof. He emphasized that the crypto space is often filled with rumors and unsubstantiated claims.
In response to the listing fee accusation, Bybit clarified that it does not charge a $1.4 million fee to list a token. Instead, it requires projects to allocate a promotional budget and provide a security deposit of $200,000–$300,000 in stablecoins. This deposit serves as a guarantee that the project will meet its promotional goals, and penalties may apply if these goals aren’t met. Bybit further explained that its listing process includes several checks such as internal voting, research, and a meeting to review the project’s legitimacy and value, with the exchange considering factors like the project’s purpose, the team behind it, and on-chain data.
Regarding the Campus Ambassador program, Bybit also denied accusations of misconduct. The social media user had claimed that Bybit gave trial contracts to students and used influencers, or key opinion leaders (KOLs), to pressure them into silence when issues arose. However, the user did not provide clear evidence to support these claims. In response, Bybit has not issued a public statement addressing the student-related accusations, but Ben Zhou reiterated his call for any solid evidence to be brought forward.
As of now, no additional proof has been presented, and Bybit continues to deny the allegations. The company stands by its claims that its processes for listings and programs are fair, transparent, and well-structured, with CEO Ben Zhou expressing confidence in the integrity of their operations.
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