Crypto Podcaster Cobie Criticizes Binance and FTX for Listing Aptos

Cobie, a prominent crypto podcaster and host of UpOnly, has criticized major exchanges FTX and Binance for listing the Aptos token without providing adequate transparency regarding its tokenomics. This criticism comes shortly after Aptos, a Layer 1 blockchain, launched its mainnet on October 17.

Aptos Mainnet Launch and Transparency Issues

Aptos, developed by former Meta employees and backed by notable investors such as Tiger Global, Katie Haun, and Coinbase Ventures, has faced scrutiny for its lack of clear tokenomics details. Cobie highlighted that the absence of information on emission schedules and total supply raises concerns for investors. Despite completing its genesis transaction on October 12, Aptos has yet to provide the necessary transparency, which Cobie argues should be a prerequisite for listing on major exchanges.

Technical Performance and Market Reaction

The Aptos blockchain operates on Rust-based Move, a programming language also used by Mysten Labs' Sui blockchain. However, its initial performance has been underwhelming, with lower transactions per second (TPS) compared to Bitcoin. Additionally, most of its tokens are either staked or available for retail purchase, which has sparked debate among crypto enthusiasts. While Aptos has dismissed claims of underperformance, stating that the network is functioning as expected, the community remains cautious about its future prospects.

Community Outlook and Conclusion

The crypto community on Twitter is divided, with some expressing optimism about Aptos' potential as more ecosystem projects launch, while others remain skeptical due to the lack of transparency. Only time will tell how Aptos will perform in the coming days, but the criticism from Cobie and others underscores the importance of transparency in the crypto space.

Crypto Podcaster Cobie Criticizes Binance and FTX for Listing Aptos