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    Home»Altcoins»Binance Co-Founder CZ: ‘I Haven’t Purchased a Single Meme Coin or NFT’ – Decrypt
    Binance Co-Founder CZ: ‘I Haven’t Purchased a Single Meme Coin or NFT’ – Decrypt
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    Binance Co-Founder CZ: ‘I Haven’t Purchased a Single Meme Coin or NFT’ – Decrypt

    By Crypto EditorFebruary 10, 2025No Comments5 Mins Read
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    Binance Co-Founder CZ: ‘I Haven’t Purchased a Single Meme Coin or NFT’ – Decrypt

    Binance co-founder and former CEO Changpeng Zhao, higher often called CZ, has made it clear—he’s by no means purchased a meme coin or an NFT.

    On Sunday, CZ expressed his dedication to “fundamentals” in crypto, distancing himself from the hype-driven meme coin tradition that continues to dominate elements of the business.

    “I haven’t purchased a single meme coin to date,” he tweeted Sunday, including his holdings are restricted to Bitcoin (BTC) and BNB (BNB).

    “I’m not into sports activities automobiles; I don’t acquire artwork; I haven’t purchased any NFTs; I additionally haven’t purchased most altcoins,” CZ wrote. “However I’m not towards any of the above.”

    Whereas CZ has stepped away from Binance’s day-to-day operations, his phrases nonetheless affect the business.

    TST obtained listed on Binance. Just a few ideas:

    1. CZ stated “fundamentals”, then talks a couple of take a look at coin turned meme coin.

    I posted to make clear that TST was NOT endorsed by me/us. It was only a take a look at token utilized in a video tutorial. However each clarification submit simply made it extra viral…

    — CZ 🔶 BNB (@cz_binance) February 9, 2025

    “CZ’s newest remarks spotlight the controversy on hypothesis versus utility,” Vedang Vatsa, Founding father of Hashtag Web3, instructed Decrypt. “As hypothesis grows, merchants and builders could have to adapt to market dynamics properly.”

    Regardless of his disinterest in shopping for meme cash, CZ made it clear that he’s not towards them both.

    “Not ‘into’ one thing doesn’t imply I’m towards it,” he stated, claiming he has gone to nice lengths to help many altcoins within the crypto business.

    The rise of meme cash

    CZ additionally provided insights into why meme cash have turn into so common, suggesting that regulatory scrutiny towards utility tokens could have performed a job.

    The previous Binance CEO famous that over the previous 4 years, a “highly effective regulatory company” had “sued anybody with any utility token, falsely claiming they’re securities.” This, he argued, drove initiatives to launch meme cash as an alternative of utility tokens.

    Whereas CZ didn’t title the regulatory company in query, the crypto market confronted intense scrutiny underneath the Biden administration from the U.S. Securities and Alternate Fee (SEC) underneath former chair Gary Gensler, who repeatedly categorized crypto belongings as securities.

    CZ has private expertise of being underneath the SEC’s microscope; in 2023 the company sued him and Binance for securities violations, previous to his ouster from the change as a part of a multi-billion-dollar settlement with the U.S. Division of Justice. Final November, attorneys for Binance and CZ filed a movement to dismiss an amended criticism submitted by the SEC within the civil go well with.

    With new U.S. President Donald Trump’s administration exhibiting a friendlier stance towards crypto, the business might see a regulatory shift that permits for wider adoption of utility tokens.

    Other than regulation, CZ famous that merchants naturally gravitate towards hypothesis, and meme cash match that mannequin effectively.

    “Issues with clear tangible worth are more durable to invest on,” he stated, mentioning that steady belongings with predictable valuations battle to draw vital buying and selling exercise.

    This isn’t the primary time CZ has voiced issues about meme coin mania.

    In November, he commented on the intense nature of meme coin promotions, saying it’s “getting somewhat bizarre now”.

    His comment got here after a live-streamed token launch on Solana-based Pump.enjoyable platform took a disturbing flip—a creator pretended to hold himself on digicam in an obvious stunt to drive token gross sales.

    TST case

    CZ’s feedback come within the wake of the Take a look at (TST) token controversy, the place a take a look at meme coin from a Binance tutorial video unexpectedly exploded in worth—reaching a $500 million market cap earlier than crashing.

    TST was supposed as a instructing software in a BNB Chain tutorial on launching meme tokens on the 4.Meme platform.

    Nevertheless, in a blink-and-you-miss-it second, the token’s title appeared at 1:18, triggering hypothesis.

    Regardless of BNB Chain deleting the video, it was too late—Chinese language crypto influencers picked it up, fueling a shopping for frenzy.

    CZ repeatedly clarified that he had no involvement, however merchants saved pumping the worth.

    “That is NOT an official token by the BNB Chain crew, or anybody,” he tweeted final Thursday. “It’s a take a look at token used only for that video tutorial. Nothing extra.”

    Binance’s “damaged” itemizing course of

    Amid the TST controversy, CZ criticized Binance’s itemizing course of, mentioning that its four-hour announcement-to-listing window allows merchants to control costs earlier than CEX buying and selling begins.

    “As an observer, I feel the Binance itemizing course of is a bit damaged,” CZ tweeted. “They announce, then listing 4 hours later.”

    Final lastly, as an observer, I feel the Binance itemizing course of is a bit damaged. They announce, then listing 4 hours later. The discover interval is critical, however in these 4 hours, the token costs go excessive on DEXes, after which folks promote on CEX…

    Undecided if there’s a answer for…

    — CZ 🔶 BNB (@cz_binance) February 9, 2025

    “The discover interval is critical, however in these 4 hours, the token costs go excessive on DEXes, after which folks promote on CEX… Undecided if there’s a answer for this although. Simply beware,” the crypto chief tweeted.

    Whereas the meme coin hype reveals no indicators of slowing, CZ stays targeted on “fundamentals.”

    “There are many cash prepared to take a position out there…A number of alternatives,” he added. “You want to construct issues folks need.”

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