Former Binance founder and CEO Changpeng Zhao addressed his followers, explaining his stance on meme coins following the TST listing.
CZ's Views on Meme Coins
Changpeng Zhao affirmed that he is not against meme coins but has never personally invested in them. He clarified that a lack of interest in an asset does not imply a negative stance. Zhao also mentioned he has no interest in sports cars or NFTs but supports altcoins and the broader crypto industry.
Popularity and Market Speculation
Zhao explained that traders often prefer to invest in meme coins since they are easier to trade. Due to legal challenges facing many utility tokens, market participants have turned to other alternatives. Zhao noted that such investments might attract speculative traders as they are easier to predict.
TST and Future Directions
TST, created for the Four.Meme platform tutorial, garnered attention from Chinese crypto influencers, leading to significant interest in the coin. The token was listed on Binance, yet Zhao stated that the exchange's management did not consult him before the listing. Despite clarifications that neither he nor Binance officially endorsed the token, interest in TST has continued to surge, with the coin trading around $0.195, experiencing a significant drop recently.
Changpeng Zhao continues to advocate for focusing on fundamental aspects of the crypto industry, stressing the importance of creating projects that people want. However, he does not oppose the community's interest in meme coins.
