Founder resigns and instantly listed! What is the story between Binance and DigiByte (DGB)?

For years, DigiByte (DGB), which has been excluded and refused to be listed by the Binance cryptocurrency exchange, was finally listed on Binance on the 22nd of this month with trading pairs DGB/BTC, DGB/BNB, and DGB/BUSD. Interestingly, this happened shortly after DigiByte's founder, Jared Tate, who had long criticized Binance, announced his resignation.

Binance Lists DigiByte for Free

DigiByte is an open-source blockchain network inspired by Bitcoin, founded by Jared Tate in 2014. DigiByte features five mining algorithms - SHA256, Scrypt, Skein, Qubit, and Odocrypt, and rewards miners with very low transaction fees. However, over the years, Binance has listed many coins with lower market value and popularity, excluding DigiByte.

According to Binance's listing announcement yesterday, DGB trading is now available. DigiByte founder Jared Tate has been strongly criticizing the operations of centralized exchanges since 2017 and abruptly resigned in May this year. In a tweet, he stated:

The crypto industry is being eroded by greed. What I've learned over eight years is that greed is the primary driving force behind cryptocurrency and the masses. The main concern for 90% of users is cashing out during a bull run; that's their motivation. Many individuals and organizations have made millions through DGB but have not given back to society or helped with ecosystem development. I will take a good rest in the summer, but that doesn't mean I'm leaving DigiByte forever.

This entire event reveals that Binance's previous refusal to list the DigiByte trading pair may have stemmed from personal grievances.

Struggle with Exchanges

Tate's struggle with exchanges dates back to 2018 when he tweeted:

Binance now takes the bribes (listing fees) they receive and donates 100% to their newly formed charity department, which I suspect is located across from the "Pump & Dump" division and next to the "Wash Trading" team.

Furthermore, Tate accused last year that during the coordination process for listing on Binance, they demanded $300,000 and 3% of the total DGB supply as insurance against hacking and to address flaws in DGB's design.

In response to this, Changpeng Zhao stated: I think he seems particularly reluctant to have DGB listed on Binance. There are many more interesting things in life than wasting time on such individuals.

Last December, Tate's criticism of Zhao and Tron founder Justin Sun reached a new height when he said:

Tired of the nonsense in this industry, I can't sit idly by for eight years and watch blockchain technology be hijacked by a bunch of scammers like CZ and Justin Sun.

Regardless of whether Tate's relationship with major exchanges has improved, the biggest beneficiaries are undoubtedly DGB token holders. Since Binance's announcement of the listing, DGB has risen by 29.41%, and since January this year, the increase has reached 340%. As of the deadline, the token price is $0.022, ranking 34th in market capitalization.

Among the top 35 cryptocurrencies by market capitalization, those currently not tradable on Binance include: BSV (delisted due to alleged fraudulent behavior by Craig Wright), LEO (Bitfinex platform token), HT (Huobi platform token), OKB (OKEx platform token), COMP (Compound governance token), HEDG (social trading platform HedgeTrade).