CZ Breaks Silence on Binance Listings and Memecoin Frenzy

Speculation Drives TST Memecoin Surge as Binance Distances Itself

The Test (TST) memecoin, built on BNB Smart Chain, witnessed a dramatic rise in market capitalization, soaring past $500 million on February 9, 2025. This surge stemmed from speculation linking the token to Binance's founder, Changpeng Zhao (CZ), following an educational video featuring Four.meme, the first memecoin factory on BNB Chain. The video, intended as a tutorial, inadvertently fueled excitement, particularly among Chinese crypto traders, propelling TST’s value upward.

CZ quickly refuted any involvement, emphasizing his focus on fundamentals. “Is CZ shifting away from fundamentals? No. I am a builder. I always focus on fundamentals,” he stated. 

Addressing the speculation over TST’s listing on Binance, CZ clarified, “Why did TST get listed on Binance? I don’t know for sure. I am entirely NOT involved in their listing process.” His remarks aimed to dispel assumptions that his personal stance influenced Binance’s token selections.

Binance’s co-founder Yi He outlined the exchange’s listing criteria, underscoring the importance of return on investment, innovation, user acquisition, and market performance. She highlighted the necessity of balancing technological appeal with market demand, acknowledging that failing to list hyped tokens could weaken Binance’s competitive standing. “If a token with a strong technological appeal and market hype is not listed on Binance, we risk losing market share,” Yi He noted.

Internal investigations into misconduct within Binance have also intensified. The exchange identified over 120 cases involving violations such as bribery and redirection of company wallet funds into personal accounts, leading to the dismissal of 60 employees. Yi He confirmed that legal action had been pursued against those implicated, spanning both domestic and international jurisdictions.

Despite the frenzy around memecoins, CZ reiterated his personal disinterest, stating, “I haven’t bought a single meme coin.” While acknowledging their significance in the market, he likened his stance to luxury cars and fine art—assets he does not personally invest in but does not oppose. “Not ‘into’ something doesn’t mean I am against it,” he explained, making it clear that his lack of engagement should not be misconstrued as disapproval.

CZ also addressed criticism of Binance’s token listing process, describing it as flawed due to the short window between announcement and listing, which creates arbitrage opportunities. “As an observer, I 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, and then people sell on CEX,” he observed.

Suggesting a shift towards automation, CZ proposed that centralized exchanges adopt a model similar to decentralized platforms, allowing for near-instant listings. “I think CEX should list (almost) everything automatically, just like DEX. But I am not running a CEX anymore,” he noted, reinforcing his role as an external observer rather than an active participant in Binance’s decision-making. His comments, while detached from Binance’s internal affairs, reflect growing concerns over listing practices and potential market manipulation.

This article has been refined and enhanced by ChatGPT.