Changpeng Zhao thinks Binance\u2019s crypto asset listing process is \u201ca bit broken.\u201d<\/p>\n
Zhao, who co-founded the exchange, recently took to the social media platform X to discuss Test (TST<\/a>), a test token\u00a0launched<\/a>\u00a0by the BNB Chain team for a tutorial video on how to create memecoins using its Four.meme launchpad platform.<\/p>\n Binance recently listed<\/a> TST, sparking massive volatility in the asset\u2019s price.<\/p>\n Explains Zhao,<\/p>\n \u201cI think the Binance listing process is a bit broken. They announce, then list four hours later. The notice period is necessary, but in those four hours, the token prices go high on DEXes (decentralized exchanges), and then people sell on CEX (centralized exchange)\u2026<\/em><\/p>\n Not sure if there is a solution for this though. Just beware.\u201d<\/em><\/p>\n The former Binance executive also clarified<\/a> that he didn\u2019t endorse the TST listing and remains focused on fundamentals rather than memecoins.<\/p>\n Zhao notes that doesn\u2019t mean he\u2019s against the asset, however.<\/p>\n \u201cNot \u2018into\u2019 something doesn\u2019t mean I am against it. I am not into sports cars; I don\u2019t collect art; I haven\u2019t bought any NFTs (non-fungible tokens); I also haven\u2019t bought most altcoins (I hold BTC and BNB). But I am not against any of the above. And I think most of you\u2019d agree, that I have worked hard and \u2018gone to some lengths\u2019 to help many altcoins and the crypto industry in general. I adopt the same view towards memecoins.\u201d<\/em><\/p>\n Zhao served as Binance\u2019s chief executive until November 2023<\/a>, when he pled guilty to breaking U.S. anti-money laundering laws. Last year, he served two months at Lompoc II, a minimum security prison in California, and an additional two months at a halfway house.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n
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