Changpeng Zhao, known as CZ, is the CEO of one of the world's largest cryptocurrency exchanges, Binance. In recent statements, he clarified the situation with the TST token and outlined the reason for its popularity.
Changpeng Zhao's Role
Changpeng Zhao highlighted that TST is a tutorial coin which Binance doesn't officially support. However, this didn't stop the token from going viral. He also mentioned his lack of personal investment in meme coins, which is not due to opposition, but rather similar to his disinterest in sports cars and NFTs.
Why TST Got Listed
Cryptocurrency exchanges like Binance prioritize listing popular tokens with high trading volumes due to competitive pressure and the desire to offer their users sought-after assets.
Meme Coin Rise
Zhao noted that regulatory challenges affecting utility tokens and the ease of tradeability have made meme coins attractive to speculators. He urged developers to focus on building truly valuable projects that people need rather than simply targeting exchange listings.
Changpeng Zhao's comments highlight important aspects of the current cryptocurrency market situation and suggest focusing on serious investments in projects with real value.
