CZ Addresses Meme Coin Rumors and Critiques Binance’s Listing Process
Changpeng Zhao, former CEO of Binance, denied rumors about his involvement with meme coins, stating he has never purchased any. He emphasized a focus on long-term fundamentals.
Key points from his recent statements:
- Clarified that he had no role in the price movement of the TST token, which gained attention after being mentioned by Binance's BNB team.
- Compared meme coins to luxury items like sports cars, acknowledging their appeal but not investing in them.
- Distanced himself from Binance’s token listings, highlighting the competitive nature of exchanges that leads to rapid asset listings.
- Described Binance’s listing process as “a bit broken,” noting that short notice periods can cause price spikes on DEXs before CEXs react.
- Pointed to regulatory uncertainty as a reason investors prefer meme coins over utility tokens, which face lawsuits.
- Noted the cultural impact of meme coins and their strong community engagement.
- Binance's market report shows over 37 million meme coins launched, with projections suggesting this could exceed 100 million by year-end.