Binance’s CZ Criticizes Token Listing Process Amid TST Memecoin Surge
Changpeng Zhao, also known as CZ, the founder and former CEO of Binance, raised concerns regarding the exchange’s token listing procedure, calling it “somewhat flawed.”
Zhao pointed out that the current system, where tokens are announced and then listed within just a few hours, creates significant volatility in prices, especially on decentralized exchanges.
In a post on X, Zhao explained that the four-hour window between announcement and listing often leads to price surges on DEXs, followed by rapid selling on centralized exchanges like Binance. He acknowledged that while the notice period is important, it creates challenges and expressed uncertainty about how to resolve the issue.
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Zhao’s remarks followed the sudden rise in popularity of the TST token, a memecoin that was featured in a Binance video tutorial on launching such coins via the Four.Meme platform. Although Zhao clarified that he did not endorse the coin, his mention of it only fueled its popularity further. Shortly afterward, Binance revealed that it would list TST trading pairs, TST/USDT and TST/USDC, leading to a price jump and an increase in its market cap.
Despite the attention, Zhao emphasized that he had no direct involvement in the decision to list TST on Binance and reiterated that his previous clarification about not supporting the coin only made it more viral.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
