CZ Speaks Out on Meme Coins Amid the TST Incident
Binance’s co-founder and former CEO Changpeng Zhao (CZ) is increasingly speculating about his connection to Meme Coins. He stressed that he had never bought it.
The clarification happened after the recent TST token event. In a now-deleted tutorial by the BNB team to launch Meme Coins through the Four.meme platform, this token serves as a role model in the now-deleted tutorial.
CZ responds to speculation about TST incident
As Beincrypto reported earlier, Zhao Chengqing said he was not involved In the surge in TST. In the latest X (formerly Twitter) post, he once again addressed the situation, prompting further discussion.
In the statement, CZ emphasized His focus is still on construction And prioritize fundamentals over market hype.
“I haven’t bought any meme coins so far.” postal read.
Nevertheless, CZ clarified that this does not mean He objected to meme coins. He compared his position on meme coins to assets such as sports cars, art and other assets No sterilization token (NFTS)– He did not invest actively, but he did not object to them.
CZ also Binance’s List decision. He explained that the exchange competition is to list popular assets with higher volumes. This usually results in a quick token list.
Meanwhile, the former CEO acknowledged the shortcomings of Binance’s listing process.
“I think the Binance will be a bit disruptive,” he wrote.
He explained that Binance announced its launch and then went live four hours later. Although a notification period is required, this short time usually leads to an increase in the token price Distributed Exchange (DEX) Before traders take advantage of growth through selling centralized trading (CEXS). While the solution to this problem remains uncertain, he warns traders to realize it.
The topic about why investors Popular to meme coins CZ speculates on multiple factors rather than utility tokens. He noted that regulatory challenges make utility companies a target for litigation. This in turn pushes some projects toward meme-based assets.
Furthermore, he noted that since stable value assets tend to have less trading activity and liquidity, speculators prefer assets with volatile price movements. He also acknowledged the cultural significance of meme coins and recognized its dedicated community and entertainment value.
This is not the first time Zhao talks about meme coins. Previously, he warned against over-hype, noting that “The meme coins are getting a little weird now.”
despite this, Binance’s latest market report Emphasizes the rapid rise of meme coins. It shows that more than 37 million tokens have been launched. Finally, the forecast shows that by the end of the year, this number may exceed 100 million.
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