Co-founder of Binance CZ: ‘I have not bought any meme-mint or NFT’

Binance co-founder and former CEO Changpeng Zhao, better known as CZ, has made it clear it has never bought a meme-mint or an NFT.

On Sunday, CZ expressed his dedication to ‘Fundamentals’ in Crypto and Distantoos of the hype-driven meme-munt culture that continues to dominate parts of the industry.

“I have not bought any meme -mint so far,” he tweeted on Sunday, adding his interests are limited to Bitcoin (BTC) and BNB (BNB).

“I don’t like sports cars; I don’t collect art; I have not bought NFTs; I also didn’t bought most altcoins, “wrote CZ. “But I’m not against one of the above.”

While CZ has left the daily activities of Binance, his words still influence industry.

“CZ’s latest comments emphasize the debate about speculation versus utility,” Vedang Vatsa, founder of Hashtag Web3, said Decrypt. “As speculation grows, traders and builders may have to adapt wisely to market dynamics.”

Despite his disinterest in buying meme coins, CZ made it clear that he is not against them either.

“Not” in “something doesn’t mean I’m against it,” he said, claiming that he went to the extreme to support many altcoins in the crypto industry.

The rise of meme coins

CZ also offered insights into why Meme Coins have become so popular, which suggests that the investigation of the regulations against Utilisestokens may have played a role.

The former CEO of Binance noted that in the past four years a ‘powerful regulatory body’ ‘had sued someone with a token of utilities that falsely claimed that they are effects. ” This, he argued, drove projects to launch meme coins instead of utility tokens.

Although CZ did not mention the relevant registration body, the cryptomarkt was confronted with an intense check under the BIDEN Administration of the US Securities and Exchange Commission (SEC) under former chairman Gary Genler, who has repeatedly classified Crypto -Activa as effects.

CZ has personal experience to be under the microscope of the SEC; In 2023, the agency sued him and Binance for violations of securities, prior to his expulsion from the stock market as part of a regulation of several billions of dollars at the US Department of Justice. Last November, lawyers for Binance and CZ submitted a motion to reject a changed complaint submitted by the SEC in the civil court case.

With the administration of the new US President Donald Trump, who shows a friendlier position compared to Crypto, the industry could see a legal shift that makes a broader acceptance of Utility tokens possible.

Apart from the regulations, CZ noted that traders are naturally attracted to speculation, and meme coins fit that model well.

“Things with clear tangible value are more difficult to speculate,” he said, pointing out that stable assets are struggling with predictable valuations to attract considerable trading activities.

This is not the first time that CZ has expressed concern about Meme Coin Mania.

In November he commented on the extreme nature of meme coin promotions and said it “is getting a bit weird now”.

His remark came after a live streamed token launch on the Solana -based pump. Fun-Platform took a disturbing turn-a maker as if he was hanging himself on the camera in an apparent stunt to stimulate the sale of token.

Tst –

CZ’s comments come in the aftermath of the Test (TST) -token controversy, in which a TestMeme coin of a Binance self -study Video exploded unexpectedly in value -a market capitalization of $ 500 million for crashing.

TST was intended as a learning tool in a BNB chain -Tutorial about launching meme -tokens on the Vier.Meme platform.

However, in a wink-and-je-it-it-it moment the name of the token appeared at 1:18, which caused speculation.

Despite the BNB chain that removed the video, it was too late -Chinese crypto -influencers picked it up and fed a buy rownia.

CZ repeatedly clarified that he had no involvement, but traders continued to pump the price.

“This is not an official sign of the BNB chain team, or someone,” he tweeted last Thursday. “It is a test smoking that is only used for that video tutorial. Nothing anymore. “

Binance’s “Broken” frame process

In the midst of the TST-Controverse, CZ criticized Binance’s listing process, pointing out that its four-hour announcement-to-list window enables traders to manipulate prices before the CEX trading starts.

“As an observer, I think the Binance list process is a bit broken,” tweeted CZ. “They announce and then mention 4 hours later.”

“The cancellation period is necessary, but in those 4 hours the token prices go high on Dexes, and then people on CEX … not sure if there is a solution for this. Watch out, “tweeted the crypto leader.

While the meme munt hype does not show any signs of delay, CZ remains aimed at ‘Fundamentals’.

“There are a lot of money ready to invest in the market … many opportunities,” he added. “You have to build things that people want.”