Cor🐸🐵🙇🏻‍♂️

The truth about CEX listing fees and how they have corrupted the memecoin asset class 🧵 Today a tier-1 CEX listed a low cap insider controlled memecoin called Fartcoin The insiders who control a large amount of the supply of Fartcoin paid a massive listing fee to the CEX in return for being able to dump on the CEX's users Instead of carefully curating the most well distributed, organic, community driven memecoins, CEXs are selling out their users to the highest bidder But it gets worse CEX listing fees are often paid in the token itself and the CEXs then proceed to dump the token on their own users while simultaneously "pumping" the memecoin from the CEX's main X account Because the tier-1 CEXs are the gatekeepers of massive swaths of liquidity they are successfully picking the winners We saw this last month when Binance listed NEIRO which only had a $15M market cap at the time (now $660M) This drove the value of the much larger competing NEIRO tokens to zero overnight Instead of wielding their power to create a healthy market around memecoins where retail wins, CEXs have corrupted the memecoin asset class so that only themselves, KOLs, VCs, market makers, and whales can win They have sent a very clear message to memecoin creators: "if you want your memecoin to succeed you need to set aside a large amount of the supply to pay the toll booth that we have erected in the market" The result is that most memecoins now start out with >50% of the supply controlled by a group of insiders who are capable of navigating this game of getting tier-1 CEX listings When you get rugged don't blame the the scammer behind the coin blame the CEXs who normalized centralized control over the majority of the supply of memecoins I don't know about you guys but this is not what I signed up for Memecoins were supposed to be the fair and transparent version of crypto where there is a ticker and an image and then it's up to a community that forms to bull post it to the moon Nothing more and nothing less There is not a single good reason why there needs to be a massive treasury for a memecoin It's an absolute joke and a disgrace that it's becoming normalized for non-utility tokens to have team/companies/VCs behind them Bitcoin didn't need any of that crap and neither do memecoins If there is any asset class where retail should be in charge it would be memecoins but now the same engine of CEXs, KOLs, VCs, market makers, and whales that got everyone wrecked with utility tokens last cycle is in the process of pivoting to memecoins The engine that I am referring to is not interested in creating long-term value it is interested in running the same strategy over and over and over again Once the engine has extracted its profit it has no reason left to promote a project anymore and just moves on to the next one where it will rerun the same playbook If CEXs continue to make listing decisions based on who will bribe them the most rather than on the merits of the community, distribution, and meme then I can 100% guarantee you that a memecoin supercycle will never happen If you still don't believe me then look at $DOG the #1 memecoin on Bitcoin Despite reaching a $980M market cap which is the highest a memecoin has ever gotten without a single tier-1 listing it has still not been listed on any tier-1 CEXs because it refuses to contribute to the downfall of memecoins by paying listing fees My call to action is simple Retail must demand that CEXs put an end to the engine of insider corruption that goes on behind the scenes of the memecoin market by committing to stop accepting listing fees for memecoins and instead use a holistic approach to curating the best possible memecoins for their users to buy If enough of us join this movement we can put an end to listing fees for memecoins and usher in a memecoin super cycle larger than anything you could ever imagine where retail is in charge You can tangibly help this effort today by first reposting this so that more people will see it and then by supporting memecoins like $DOG that are taking a stand by refusing to pay CEX listing fees I am now going to speak directly to @binance, @coinbase, @okx, @kucoincom, @Bybit_Official, @HTX_Global, @krakenfx, and @cryptocom You will make significantly more revenue from marker/taker fees on the volume that is generated by listing many high quality retail driven memecoins during a memecoin super cycle than you ever could from the listing fees paid by a handful of scams Stop treating memecoins like utility tokens and adapt to the new paradigm of a retail centric market of decentralized non-utility tokens It's extremely depressing to know that if Satoshi Nakamoto created Bitcoin today it would not qualify for a tier-1 CEX listing and instead you all would list a bunch of corporate scams End this madness by listing $DOG immediately