The recent listing of TST (Test Token) on Binance has sparked debates about the exchange's listing standards, with some investors questioning whether this move aligns with Binance's core principles. Founder Changpeng Zhao (CZ) responded via social media, offering insights into meme coins and Binance's decision-making.
CZ Clarifies TST Was Never Officially Endorsed
CZ stated that TST wasn't promoted by Binance or himself—it originated as a test token for tutorial videos without inherent value. Ironically, his attempts to clarify fueled more interest, causing TST's popularity to surge unexpectedly.
He noted that TST now has a website and X account, both community-driven with no official ties to BNB Chain or Binance.
Does Binance Still Prioritize Fundamentals? CZ Affirms Commitment
Addressing concerns about shifting priorities, CZ emphasized:
"I’m a builder focused on fundamentals."
He reiterated his dedication to core project values, refusing to compromise standards for market trends.
CZ’s Investment Strategy: No Meme Coins, Just BTC and BNB
When asked if he’s invested in meme coins, CZ replied:
"I’ve never bought any meme coins."
His portfolio consists of:
- BTC and BNB
- No NFTs, art, or luxury collectibles
- Minimal altcoin exposure
While neutral toward meme coins, he advised: "Focus on building quality projects over chasing listings."
Why Did Binance List TST? CZ Cites Exchange Competition
CZ clarified he’s not involved in listing decisions, but explained:
"Exchanges compete to list trending tokens first."
High demand alone can drive listings, regardless of project outreach. He acknowledged flaws in Binance’s process, like short notice before TST’s launch, which allowed DEX price surges before CEX trading began.
Potential Solutions: CEX-DEX Synchronization?
Some suggest CEXs adopt DEX-like models for instant listings and liquidity integration. CZ agreed conceptually but noted he’s no longer managing such operations.
Why Meme Coins Outperform Utility Tokens? CZ’s Three Theories
1. Regulatory Pressure
Functional tokens face securities classification, pushing projects toward meme coins with lower regulatory risks.
2. Speculative Appeal
Meme coins’ high volatility attracts traders seeking short-term gains, unlike stable assets like real estate.
3. Cultural Phenomenon
"Meme coins are fun—a cultural wave," CZ said, warning against opposing their passionate communities.
Key Takeaway: Build What the Market Wants
CZ concluded:
"Capital is abundant; success hinges on creating needed products."
Developers should:
- Prioritize substantive projects
- Align with market psychology
- Manage risks wisely
His parting advice: "Happy memeing—but stay cautious!"
Meme Coin Frenzy: Exchanges Navigate Market Realities
CZ’s responses highlight that meme coins thrive due to organic demand, not exchange promotion. While he avoids them personally, he recognizes their market role. For projects, user engagement remains the ultimate metric—whether for utility tokens or meme coins.
FAQ Section
Q: Did CZ personally approve TST’s listing?
A: No. He emphasized TST was a test token repurposed by the community.
Q: Does Binance prioritize meme coins over utility tokens?
A: CZ stated listings are demand-driven, not ideology-based.
Q: How can projects improve their chances of being listed?
A: Focus on organic growth and community traction rather than direct exchange outreach.
Q: Are meme coins a good investment?
A: CZ avoids them due to volatility but acknowledges their cultural significance.
Q: Will Binance change its listing process?
A: CZ noted room for improvement but isn’t involved in current operations.
Q: What’s CZ’s long-term crypto holding?
A: Primarily BTC and BNB, with minimal exposure to other assets.
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