Binance Founder CZ Says ‘I am Not Against Meme Coins,’ But Declares He’s Not Investing in Them
Even though the crypto market has experienced many ups and downs, new meme coins are starting to attract more attention and even see some huge price increases. A meme coin makes headlines (TST), which is the new coin on Binance Smart Chain. Rumors say this is related to Binance founder Changpeng Zhao (CZ). But CZ stepped in to clean up issues and solved the growing buzz around TST.
CZ will record as of TST
CZ recently released online Explain this TST He or binance has never been formally recognized. “This is just a test token used in the video tutorial,” he said. Although he clarified, TST’s popularity is still growing. “Every clarification post makes it even more viral,” CZ joked.
As for the listing of Binance on TST, CZ explained that he was not involved in the decision. “The exchange wants to list popular coins with higher volumes,” he said. “If your coins have demand, there is no need to communicate. Just focus on your project.”
Is CZ far away from fundamentals?
With the rise of meme coins, many people wonder if CZ will shift the focus from the core principles of encryption. However, CZ made it clear that this was not the case. “I’m a builder,” he said. “I’m always focused on fundamentals.”
Is he interested in meme coins? CZ said he didn’t buy anything. He confirmed: “I haven’t bought a meme coin yet.” He also said that just because he doesn’t like meme coins, it doesn’t mean he’s against them. “I have worked hard to support many Altcoins and the cryptocurrency industry as a whole and have the same view on Meme coins.”
Why are meme coins so popular?
So why are meme coins like TST so popular, especially compared to utility tokens? CZ has some ideas about this. He noted that in recent years, regulators have suppressed utility tokens, calling them securities, which has led some to turn to Meme Coins as a safer option.
He also explained that meme coins are difficult to value, which makes them attractive to speculators. “It’s hard to speculate about something valuable,” he said. “The memes are fun and there’s an entire community around.”
