Binance co-founder and founding director He Yi has addressed users' growing concerns regarding the recent surge in memecoin listings on the platform.
He Yi's Position
In her statement, He Yi noted that the exchange has no intention of leading the trend towards memecoins but instead focuses on testing various projects with different fundamentals.
Three Types of Projects
Yi explained that there are three main types of projects currently prominent in the cryptocurrency space: * Telegram games that primarily focus on airdrop distribution. * Infrastructure projects that typically have high Fully Diluted Valuations (FDVs) and are backed by venture capital (VC) funds. * Memecoins attract a significant portion of the market's attention.
Future Listings
Despite concerns, He Yi noted that Binance has identified projects with lower FDVs and more dispersed initial coin distributions for potential listings as part of its testing process. The strategy aims to offer a more balanced selection of projects by experimenting with different asset types rather than trying to push any one trend. This morning, cryptocurrency exchange Binance announced that it will list Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE) altcoins.
He Yi emphasized that Binance continues to test different types of projects to offer users a diverse selection. All actions of the exchange are aimed at finding an optimal balance and preventing any one direction from dominating excessively.
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