Binance co -founder and former CEO Changpeng Zhao, better known as CZ, made it clear.
On Sunday, CZ expressed his dedication to the “foundation” in encryption, and far from an over -advertising -oriented meme coin culture that continues to dominate part of the industry.
“I haven’t bought a single meme coin so far,” he tweeted on Sunday.
“I do not enter the sports car. I do not collect art. I didn’t buy NFT. I also didn’t buy most Altcoins, ”CZ said. “But I do not oppose anything above.”
CZ is out of the everyday operation of Binance, but his words still affect the industry.
Vedang Vatsa, the founder of Hashtag Web3, said, “The latest remarks of CZ emphasize discussions on speculative -to -use use. decoding. “As guesses grow, traders and builders may have to adapt to market epidemiology wisely.”
The CZ made it clear that he was not opposed to them, even though he was interested in buying a meme coin.
“It didn’t mean I’m opposed to something,” he said.
Rising
The CZ also provides insight into why Meme Coin has gained popularity, suggesting that regulatory investigation of utility tokens may have played a role.
Former Binance CEO has pointed out that “strong regulatory agencies” have been “securities by suing people with utility tokens.” He insisted that this led the project to launch a meme coin instead of a utility token.
The CZ did not name the regulatory agency, but the encryption market faced intense investigation in accordance with the BIDEN administration of the US Securities and Exchange Commission (SEC) of the former chairman of the former chairman of the former chairman, who repeatedly categorized encryption assets into securities.
CZ has a personal experience under the brown rice of the SEC. In 2023, the institution was kicked out of exchange as part of a billion -dollar agreement with the US Department of Justice, suing him with Binance for violating securities before. In November, lawyers in Binance and CZ raised the agreement to dismiss the modified complaints submitted by the SEC in the CIVIL lawsuit.
As the US President of the US US President Donald Trump showed a more friendly position on encryption, the industry could see the regulation change that could adopt utility tokens more broadly.
In addition to regulations, the CZ pointed out that traders naturally speculate and the meme coins fit well with the model.
“It’s harder to guess what is clearly valuable,” he said.
This is not the first time CZ has expressed concern about Meme Coin Mania.
In November, he said, “It’s a bit strange now.”
His remarks came after the launch of live streaming tokens in Solana -based PUMP. The FUN platform has been hindered. The producer pretended to be hanging on the camera on an obvious stunt to lead the token sales.
TST case
The opinion of the CZ was in the test of TST token, and the test memes coins of the Binance tutorial video were unexpectedly exploding and the market cap of $ 500 million before colliding.
TST was intended to be an educational tool in the BNB Chain Tutorial, which starts MEME TOKENS on the Four.meme platform.
But in the moment, the name of the token appeared at 1:18 in the moment, and it caused a guess.
It was too late despite the BNB chain deleted the video. The Chinese encryption influenza picked it up and caused the purchase craze.
The CZ repeatedly revealed that he did not participate, but merchants continued to pump the price.
“This is not the official token of the BNB chain team or others,” he tweeted last Thursday. “Test tokens used only in video tutorials. There is nothing more. ”
Binance’s “Broken” list process
In the TST debate, the CZ criticized Binance’s listing process and pointed out that a four -hour presentation window could manipulate the price before the CEX trading was started.
“I think that the Binance listing process has been broken a bit as an observer. “They list after four hours.”
“It requires a notification period, but the token price is higher in Dex within 4 hours, and people are sold by CEX. Still, I’m not sure if there is a solution. The encryption leader tweeted.
MEME Coin Hype does not show signs of slowing, but CZ is still focusing on “foundation”.
“There are a lot of money to invest in the market. There are many opportunities,” he added. “You have to make what people want.”
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