
CZ Criticises Binance's Listing Process
Changpeng Zhao criticises Binance's listing process, pointing out inefficiencies and impacts on the market. His statements shake up the crypto community.
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Changpeng Zhao (CZ), CEO of Binance, recently criticised the platform's listing process, pointing out serious inefficiencies and flaws.
In a blunt statement, he highlighted the challenges and limitations Binance faced in selecting new tokens for listing. His remarks highlight the increasing complexity and level of scrutiny surrounding the exchange's operations, especially in light of regulatory pressures and market dynamics. His reflection serves as a wake-up call for the crypto industry, calling for a review of listing practices.
CZ attacked Binance's method of listing assets and clarified his position on meme coins.
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The Case Of The TST Token And The Controversy Over Binance's Listing
Zhao's statements came in the wake of Binance's announcement regarding the "unintentional" TST meme coin, a test asset it had released on the Four platform.Meme while recording a tutorial for BNB Chain. The association with a well-known figure quickly made the token popular in the community.
Zhao repeatedly insisted that TST was just a demo, but each of his explanations "only increased its virality."
At its peak, the asset's price reached $0.47, while at the time of writing TST is trading at $0.18, with a capitalisation of $175.7 million.
CZ stated that he "is not sure" why the asset ended up on Binance and stressed that he was not involved in the process. According to him, in a competitive market, exchanges tend to quickly list assets:
The entrepreneur also stated that he is neither "for" nor "against" meme coins, but that he is interested in their development.
In his view, the community became interested in this segment in response to restrictions imposed by "an influential regulator" who classified utility tokens as securities and sued the developers. Another factor that has fuelled interest is the possibility of speculation.
Previously, experts at Binance Research had highlighted the enthusiasm in the meme coin sector, explaining the phenomenon by their "honest launch", devoid of hidden insider distributions and token unlocking. The ease of access to assets, thanks to platforms like Pump.fun and bots on Telegram, has also contributed to their spread.
In February, AI tokens AI16Z and VVV collapsed after being listed on Binance's futures platform.
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