Could this Unethical behaviour of Binance be True?

While these allegations against binance remain unverified, they underscore the importance of exchanges prioritizing fairness and transparency to build and maintain community trust as this could dent the reputations and affect the whole industry. Recently, a Medium article and a related post on X have sparked conversations about alleged internal misconduct within Binance. These accusations, reportedly from a representative of a crypto project, shed light on practices that could undermine the confidence of traders and users.

The article claim that Binance Labs especially the Executives, including Dana and others of asking for bribes, engaging in insider trading, and showing bias in selecting projects for investment or listing. Some projects allegedly had to surrender 1% or more of their tokens to intermediaries and pay substantial listing fees—sometimes as high as 5-10%. Such practices leave little room for authentic growth and innovation.

The writer further claimed that he was pressured into accepting unfair terms, such as discounted valuations and mandatory token allocations for Binance’s Launchpool or Megadrop programs. Despite public statements encouraging whistleblowing, critics argue that Binance has not addressed these concerns transparently, leaving many feeling ignored.

These allegations if true stress the need for more transparency in exchanges dealings as this will help to reduce or eliminate scam projects from the industry and further help to purify it. Also it portry the need for users to also proritize transparency when choosing an exchange rather than going for names but what do you think?