Binance founder and former CEO Changpeng Zhao (CZ) addressed his fans on X after $TST was launched on the exchange on Sunday and claimed that he is fundamentally not against memecoins as they cater to a section of crypto audience. CZ also clarified that neither he nor his exchange has officially endorsed TST memecoin and insisted that he has never invested in any memecoin yet.
According to a statement issued by Binance on Sunday, two coins Test (TST) and 1000CHEEMS have been launched on their exchange. The news came as a surprise for many who thought CZ was fundamentally against memecoins that largely serve no purpose in the crypto industry.
Addressing his fans on X, CZ wrote, “is CZ against meme coins? No. Not “into” something doesn’t mean I am against it. I am not into sports cars; I don’t collect art; I haven’t bought any NFTs; I also haven’t bought most altcoins (I hold BTC and BNB). But I am not against any of the above. And I think most of you’d agree, that I have worked hard and “gone to some lengths” to help many altcoins and the crypto industry in general. I adopt the same view towards meme coins.”
CZ also clarified that he was not asked by the management before listing TEST token on Binance and he also believes that a large section of crypto investors have recently shifted to memecoins after hostile regulatory agencies started attacking altcoins.
“During the last four years, a powerful regulatory agency sued almost anyone with any utility token, falsely claiming they are securities. So, people started to launch memes,” said CZ.
Also Read: This Investor Just Turned $500K into $2.5M with TST Tokens
