Changpeng Zhao, co-founder and former CEO of Binance, recently addressed discussions regarding meme coins, clarifying his stance on the market.
He stated that he never purchased any meme coins, though he maintains a neutral position on their role in the industry. His remarks followed the listing of TST on Binance, a token he described as a test coin that later became a meme coin.
Zhao emphasized that he was not involved in Binance’s listing process and reiterated the competitive nature of exchanges when adding new tokens.
TST got listed on Binance. A few thoughts:
1. CZ said “fundamentals”, then talks about a test coin turned meme coin.
I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral…
— CZ 🔶 BNB (@cz_binance) February 9, 2025
CZ Clarifies His Position on Meme Coins
Zhao denied any direct endorsement of TST, explaining that it was originally used for a video tutorial. However, he noted that each clarification post about the token increased its visibility.
Meanwhile, Zhao reaffirmed his commitment to building and prioritizing fundamentals in crypto projects. He addressed speculation about his personal involvement with meme coins, stating that he has not bought any.
At the same time, he clarified that not participating in meme coin investments does not indicate opposition to them. Zhao compared this stance to his lack of interest in sports cars, art collections, or NFTs while still supporting the broader industry.
Aside from meme coins, Zhao also noted he never bought most altcoins as he held Bitcoin and BNB. Meanwhile, Zhao emphasized his contributions to crypto development, including assistance to various altcoins and blockchain projects.
Binance’s Listing Strategy
Regarding Binance’s decision to list TST, Zhao stated that he was not part of the process and was unsure of the reasons behind the listing. He highlighted that exchanges operate competitively, prioritizing listing tokens with high trading demand.
According to him, projects with strong trader interests naturally attract listings, reducing the need for direct outreach to exchanges.
Zhao also addressed a broader trend in the market, noting that traders frequently question why certain coins get listed over others. He stressed that project teams should concentrate on development and market traction instead of focusing on exchange listings.
The Growing Interest in Meme Coins
Zhao speculated on why meme coins have gained popularity. He suggested that regulatory challenges faced by utility tokens have driven more projects toward meme-based assets.
He also observed that speculative trading plays a role, as assets with less intrinsic value are often more volatile, attracting high trading activity. Additionally, he acknowledged that meme coins appeal to communities through cultural engagement and entertainment value.
Zhao concluded by noting that significant capital remains active in the market. He advised builders to develop products that align with market demand while cautioning against excessive risk.
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