The Kaspa–Binance Clash: A Spotlight on Crypto’s Culture Shift

The recent clash between the Kaspa team and Binance over a potential listing deserves close attention.

Kaspa isn’t just another “promising” cryptocurrency claiming technological innovation. It has already proven itself on the market as a highly demanded asset. It’s no coincidence that during the previous bear market (in the second half of 2022), the KAS/BTC rate surged nearly a hundredfold.

With numbers like these, Kaspa naturally interests major platforms. Yet on Binance it was available only as a derivative - a perpetual futures contract - ever since November 2023. Traders could speculate on its price and earn in stablecoins, but they couldn’t actually buy, sell, or swap the token itself.

Then, in November 2025, a member of the Kaspa team claimed that Binance had asked for 3% of KAS’s maximum supply as a condition for a spot listing. Binance didn’t directly respond to the accusation, but just days earlier it had published a post stating that it does not earn money from listings and instead asks project teams to provide a refundable security deposit meant to ensure fair trading.

My impression is that Binance simply doesn’t take seriously those crypto projects whose creators didn’t reserve a large portion of the supply for themselves at launch. Bitcoin didn’t. Kaspa didn’t. And last year I genuinely thought this would become the standard for any self-respecting crypto project. The pump.fun wave - where token creators received nothing automatically and could only buy tokens on the same terms as everyone else - felt like the beginning of a new, more transparent culture of launching crypto assets.

I know, in 2025 that trend was broken. First came the TRUMP token, then many others - all the way up to ASTER. Still, projects without a premine haven’t gone anywhere, and their tokens remain in demand. For teams like Kaspa’s, setting aside 3% of the maximum supply is simply impossible by definition.

It’s hard to believe that Binance doesn’t understand this. Much more likely, they just don’t agree with this philosophy. From their standpoint, if a team didn’t reserve a massive chunk of tokens for itself - meaning Binance can’t extract much value from them - then both the team and the token simply aren’t worth the effort.

And if you find such cryptocurrencies interesting, a quick reminder: Kaspa is available for swaps at the best rates on rabbit.io.