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Binance co-founder Changpeng Zhao cited HYPE’s past token distribution and asset custody structure as a reason its Binance spot listing was delayed. According to Wu Blockchain, Zhao said on the “When Shift Happens” podcast the way HYPE was distributed and custody arrangements were handled at the time may not have met Binance’s counterparty risk management requirements, though he added the situation may have changed since then. Binance listed three HYPE spot trading pairs at 11:00 a.m. UTC on Sept. 24.