Former CEO of the largest crypto exchange Binance, Changpeng Zhao, clarified his position on the hype around the TST token and memecoins in general, and also revealed which cryptocurrencies are in his portfolio.
Changpeng Zhao mentioned the new Test token (TST) built on the Binance Smart Chain blockchain. He wrote on social media X that the token had been listed on Binance, but Zhao himself did not support TST and was not involved in the decision to list it.
TST is just a test token used in a video tutorial, but for some reason, after each explainer post, the token’s popularity only grew, Zhao said. He added that he often receives messages from people complaining that Binance lists the wrong coins for users. To which Zhao responded:
“The truth is that exchanges should compete for listing popular coins by trading volume. If your coin is active and in demand by traders, you don’t need to communicate with exchanges. Just work on your project.”
The Binance founder noted that he has not purchased any memecoins yet. However, this does not mean that he is against meme tokens. Zhao stated that he has worked hard to develop many altcoins and the crypto industry as a whole, so memecoins have the right to develop as well.
“I’m not into sports cars or art collecting. I haven’t bought any NFTs, I haven’t even bought most altcoins (I own BTC and BNB). But I’m not against all of the above,” Zhao wrote on X’s social media.
He explained the popularity of memecoins by the fact that in recent years, regulators have tightened their control over utility tokens, calling them securities. So many people invest in memetokens, considering them a safer option. Plus, memecoins are fun, and entire communities are built around them.
Zhao previously criticized renowned economist Nouriel Roubini for creating his own token, as Roubini has often spoken out against cryptocurrencies and called Zhao himself a “walking time bomb.”
