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Binance co-founder and former CEO Changpeng “CZ” Zhao has distanced himself from the hype surrounding meme coins and NFTs, stating that he has never personally invested in them. Additionally, CZ claims he has no knowledge of how TST, a lesser-known token, ended up being listed on Binance, fueling speculation about the exchange’s internal listing processes.
CZ’s Statement on Meme Coins and NFTs
In a recent social media post, CZ clarified that despite the popularity of meme coins and NFTs, he has never participated in trading them. This comes as a surprise to some in the crypto community, given Binance’s role in supporting and listing various meme coins and NFT-related projects.
His statement may be an effort to distance himself from the speculative side of the market, reinforcing his image as a long-term builder rather than a hype-driven trader. Binance, under CZ’s leadership, frequently listed trending tokens, but his comments suggest a personal detachment from short-term speculation.
The TST Listing Controversy
One of the more intriguing aspects of CZ’s statement was his claim that he does not know how TST got listed on Binance. This raises questions about the exchange’s listing policies and whether certain tokens gain entry without top-level executive oversight.
Binance has long maintained that token listings go through a rigorous vetting process, but the lack of clarity on TST’s listing suggests that decisions might sometimes be made at different levels within the company. Some industry observers speculate that third-party influencers or partnerships may have played a role.
Transparency and Exchange Listings
CZ’s remarks come at a time when regulatory scrutiny on crypto exchanges is intensifying. Questions around listing transparency have been a recurring topic, especially with allegations in the broader industry about “pay-to-list” schemes and preferential treatment for certain projects.
While Binance remains the world’s largest crypto exchange by trading volume, its approach to token listings has often sparked debate. CZ’s statement could be an attempt to reinforce that he had no personal involvement in such decisions, especially as he steps back from day-to-day operations following legal settlements with U.S. regulators.
With CZ no longer at the helm of Binance, his distancing from meme coins, NFTs, and specific token listings may signal a shift in leadership focus. However, the crypto community will likely keep a close watch on how Binance continues to handle new token approvals and whether greater transparency is introduced in the future.
