Zhao Changpeng: It is unclear whether TST will be listed on Binance, and I have not participated in the listing process
ChainCatcher message, Binance founder Zhao Changpeng posted on X platform stating, "TST has been listed on Binance. A few thoughts:
Zhao Changpeng talked about the "fundamentals," and then mentioned the transition from test tokens to meme coins. I posted to clarify that TST has not received my/our endorsement. It is merely a test token used in the video tutorial. But for whatever reason, every clarification post makes it even more popular.
Is Zhao Changpeng deviating from fundamentals? No. I am a builder. I always focus on fundamentals.
Does Zhao Changpeng "like" meme coins now? It depends on your definition of "like." So far, I have not bought a single meme coin.
So, does Zhao Changpeng oppose meme coins? No. Not "liking" something does not mean I oppose it. I don’t like sports cars; I don’t collect art; I have never bought any NFTs; I also haven’t bought most altcoins (I hold BTC and BNB). But I do not oppose any of the above. I think most of you would agree that I work hard and "do my best" to help many altcoins and the entire crypto industry. I hold the same view towards meme coins.
Why is TST listed on Binance? I’m not quite sure. I had no involvement in their listing process. Based on historical experience, people always complain, "Why did you list this, but not the token I hold?" You may not like to hear this, but the fact is: exchanges must compete to list popular tokens early (with trading volume). If your token is actively sought after by traders, you don’t need to talk to the exchange. As I often say, focus on your project, not the exchange.
Why do people buy memes instead of utility tokens? I don’t know, but I’m willing to take some guesses (pun intended). Over the past four years, a strong regulatory body has prosecuted almost everyone with utility tokens, falsely claiming they are securities. Therefore, people started launching memes. There is a class of traders known as speculators. Things with clear tangible value are harder to speculate on. They hover around clear value. This is indeed a challenge for RWAs. For example, a building with little value fluctuation may not have much trading activity. Thus, it won’t have much liquidity, the order book becomes thin, and then trading activity decreases, creating a vicious cycle. Memes are fun, etc. This is a cultural issue. I am not an expert in this area. There are many staunch defenders of memes. Don’t go against the community.
Finally, it is clear that there is a lot of capital available for investment in the market. There are many opportunities. You need to create what people want."
Risk warning Risk warning
