CZ Addresses Meme Coin Speculation Amid TST Token Controversy

Changpeng Zhao (CZ), Binance’s co-founder and former CEO, has denied any involvement with meme coins, emphasizing that he has never purchased one. His clarification comes after speculation linked him to the TST token, which surged following its inclusion in a now-deleted Binance tutorial on launching meme coins via Four.Meme.

Addressing the controversy on X (formerly Twitter), CZ reiterated his focus on fundamentals over hype. He stated, “I haven’t bought a single meme coin so far,” while clarifying that he isn’t opposed to them. Comparing meme coins to assets like sports cars, art, and NFTs, he noted that while he doesn’t invest in them, he recognizes their value to certain communities.

CZ also distanced himself from Binance’s token listing decisions, pointing out flaws in the process. He criticized Binance’s practice of announcing listings just four hours before going live, which often triggers price surges on decentralized exchanges (DEXs) before reaching centralized exchanges (CEXs). He acknowledged the need for improvements while cautioning traders about potential risks.

Discussing the popularity of meme coins, CZ attributed their rise to several factors. He noted that regulatory scrutiny has made utility tokens vulnerable to legal challenges, pushing projects toward meme-based assets. Additionally, meme coins attract speculators due to their price volatility and strong community engagement.

Despite CZ’s previous caution against excessive meme coin hype, Binance’s latest report highlights their rapid growth. Over 37 million meme tokens have been launched, with projections suggesting the number could exceed 100 million by year-end.

While acknowledging their appeal, CZ continues to prioritize long-term fundamentals over speculative trends, urging investors to be mindful of market dynamics.