CZ on Meme Coins: Binance Listing Process & TST Token
Changpeng Zhao (CZ), Binance’s co-founder, recently addressed speculation surrounding his involvement with meme coins, clarifying that he has never personally purchased any. This statement follows the recent surge in the TST token, initially highlighted in a now-deleted BNB team tutorial on meme coin creation via the Four.Meme platform.
CZ Responds to Meme Coin Speculation
Following previous statements denying involvement in the TST price surge, CZ reiterated his position on X (formerly Twitter): "I haven’t bought a single meme coin so far."
He emphasized his focus on building and prioritizing fundamentals over market hype. While not against meme coins, he compared his stance to other assets like sports cars or NFTs—assets he doesn’t personally invest in but doesn’t oppose.
Binance's Listing Process Under Scrutiny
CZ also addressed Binance’s listing process, acknowledging shortcomings. He noted that the current system, with listings going live only four hours after announcement, often leads to price surges on decentralized exchanges (DEXs) before selling on centralized exchanges (CEXs). This, he warns, requires trader caution.
“I think the Binance listing process is a bit broke,” he stated.
Why the Meme Coin Appeal?
CZ offered insights into the appeal of meme coins, suggesting several factors. These include regulatory challenges impacting utility tokens, the speculative nature attracting traders seeking volatile price movements, and the strong community and entertainment value associated with many meme coins.
This isn't CZ's first comment on meme coins. He previously warned against excessive hype, stating, “Meme coins are getting ‘a little’ weird now.” However, a recent Binance market report highlighted the rapid growth of meme coins, projecting over 100 million tokens by year-end from the current 37 million.
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Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always conduct your own research and consult with a financial professional before making any investment decisions.