Binance founder Changpeng 'CZ' Zhao voiced concerns over the exchange's token listing process, describing it as 'a bit broken.'
Criticism of Token Listing Process
Zhao pointed to the short time frame between announcing a new token and listing it, typically four hours, which he argues contributes to price spikes on decentralized exchanges (DEXs) before the token is available on centralized exchanges (CEXs), enabling early traders to sell at higher prices.
TST Memecoin Controversy
Zhao's remarks came after Binance listed TST, a memecoin first seen in a BNB Chain tutorial video for the Four.Meme platform. The video unintentionally revealed the token's name, sparking speculative trading, especially among Chinese crypto key opinion leaders (KOLs). The BNB Chain team swiftly removed the video and deleted the private key linked to the creator address, holder of 0.13% of TST's supply.
Comment on Zhao's Impact
Zhao acknowledged the unexpected impact of his remarks on the token. '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 for whatever reason,' he said.
Changpeng Zhao pointed out issues with the current token listing process on Binance, noting the need for improvements. His comments sparked interest in TST, which was not initially supported by him.
