The post Binance Faces Community Backlash and Boycott Calls appeared on BitcoinEthereumNews.com.

Controversies surrounding token listings, the depegging of the FDUSD stablecoin, and allegations of unethical behavior have raised a crucial question: Is Binance losing its credibility? These issues threaten to erode trust and challenge Binance’s standing in the crypto industry. Binance Struggles to Meet the Standard One of Binance‘s most pressing issues is the poor performance of the tokens listed on the exchange. As BeInCrypto reported earlier, 89% of the tokens listed on the platform in 2025 recorded negative returns. Even more concerning, another report reveals that most of the tokens listed in 2024 also experienced negative performance. Listing on Binance was once considered a “launchpad” for new projects. However, it no longer guarantees success. A prime example is the ACT token, a meme coin listed on the exchange that quickly plummeted. Earlier this week, Wintermute—a major market maker—dumped a large amount of ACT, exerting strong downward pressure on its price and raising concerns about the transparency of Binance’s listing process. Not using Binance anymore They are listing scam shitcoins to make huge profits instead of listing real projects.#BoycottBinance — Darky (@Darky1k) April 1, 2025 Such criticism has led the community to believe Binance prioritizes listing fees over users’ interests. Connection to FDUSD The FDUSD stablecoin has also become a focal point of controversy, with Binance at its center. FDUSD lost its peg, dropping to $0.89 after reports surfaced that its issuing company had gone bankrupt. Wintermute, one of the largest FDUSD holders outside of Binance, withdrew 31.36 million FDUSD from the exchange at 11:15 AM UTC. This move is believed to have exacerbated the depegging situation, sparking panic in the market. More concerning, a community member claimed that some Binance employees leaked internal information about the FDUSD incident so they could select whale chat groups. If true, this would severely…

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Filed under: News - @ April 4, 2025 1:21 am