Changpeng Zhao, known as CZ, former CEO of Binance, has made a candid criticism of the process of quotation of the exchange tokens. In a series of posts on social media, CZ has expressed its concern for the fact that the system is “a little broken”, in light of the recent price of a new coin of TST meme on the exchange of crypt. His comments show his vision for reforms.
(source)
The criticism came following a pump of a token called test (TST). TST itself was initially created for educational purposes in a BNB chain video tutorial. CZ clarified that he had no involvement in promoting or approving the TST.
Despite this, the token market capitalization has risen to almost half a billion dollars. On the contrary, it collapsed after the official list of Binance.
The king spoke, Cz View on Binance and Meme Coin Post Dreesions
CZ perceives the TST list as a defect in the binance quotation process. Binance gave only a short window between the announcement of a list and its actual list.
This limited period, generally about four hours, allows prices to be manipulated on decentralized exchanges (Dexs) before the token affects cryptocurrency exchanges. This type of manipulation leads to inflated prices and subsequent losses for owners after decreasing.
(TSTUSD)
Changpeng Zhao believes that the current binance quotation process promotes speculative trading and price manipulation. This is far from the vision of CZ of authentic investments based on the users or foundations of a token.
CZ recalled that centralized exchanges should adopt principles such as decentralized exchanges, automating the price process to reduce the opportunity of pump-and-dump. In this way, the cryptocurrency market will move towards a more transparent and fair system. CZ’s vision is always to list the tokens based on the merit rather than the clamor and the manipulation of the market.
In addition to criticizing Binance’s listing strategy, CZ also publicly declared its disinterest in coins and NFT. He says he will focus on the foundations of Blockchain technology.
TST was listed on Binance. Some thoughts:
1. Cz said “foundations”, so he talks about a test currency that became a meme coin.
I published to clarify that TST has not been approved by me/us. It was just a trial token used in a video tutorial. But every post of clarification made him more viral …
– Cz
BNB (@cz_binance) February 9, 2025
Despite his role in the construction of the greatest exchange of cryptocurrencies, CZ has claimed not to invest or promote meme coins. He sees them as more speculative and less aligned with the fundamental objectives of Blockchain innovation.
This position was displayed after the token TST accident. Cz clarified his position to avoid incorrect interpretations, suggesting his approval of a meme currency.
Related: Cz New Yzi Labs, a family laboratory after Binance
Binance, from the Axs to TST LIST
The binance under CZ was known to pump a token after their list, especially during the 2021 cycle. Coins like Axs of Axie Infinity and Dodo made news at that moment. In March 2021, Dodo, which is part of the Dodo exchange ecosystem, saw a huge pump after his list of cryptocurrency exchanges. The Dodo price increased by over 600% within the first week of price.
In April 2021, following his binance list, Axs, a token axie infinity, gave enormous yields to investors. The value of the token has increased by about 1,200% within one month of its list. Once again, this is the vision of CZ, listing these coins invisible.
Post Cz Dretion, Binance took a different path. Binance now makes announcements before the list, which led to significant post-lench drops.
For example, Binance listed Zerebro for his clamor Ai, but the value of the token has drastically decreased by about 94.4% within a month.
At the beginning of this year, Binance listed Alchemist ($ alch), which therefore recorded a drop of 91.3% of the market capitalization. The market doubts the long -term feasibility and execution capabilities of the project that soon put the initial euphoria of the token list.
What is the next $ Axs
Binance scan pic.twitter.com/ujyqw7l6w4
– Wizz
(Attention scammer) (@cryptowizardd) 13 July 2021
The Crypto community has highlighted these events as an indicative of a scenario of “pump and landfill”, in which the value of the token is artificially inflated before the list, just to fall from a Burj Khalifa later.
The market probably needs the king to return. Will Cz Bnb soon rename him in Cz Binance?
Explore: the new Dave Portnoy meme coin went to 100,000% but what is the best meme coin to buy?
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