CZ Reveals His Take on Memecoins After the Launch of $TST on Binance, Here’s Why!

Jakarta, Pintu News – Changpeng Zhao (CZ), the founder and former CEO of Binance, recently clarified the launch of the $TST memecoin on his platform last Sunday.

Many were surprised when this memecoin was listed on Binance, especially considering that CZ had previously expressed skepticism about the role of memecoins within the broader cryptocurrency ecosystem.

In a statement on X (formerly Twitter), CZ explained that although he is not particularly interested in memecoins, he does not oppose them entirely, as they have their own audience in the crypto world.

Read the full story below!

CZ Explains His Views on Memecoin and TST

As reported by Crypto Times, CZ clarified that he never officially supported the launch of the $TST memecoin.

According to him, TST was actually a test token used in Binance’s video tutorial and was not a project that he or Binance endorsed.

However, despite not being his personal investment, the launch of TST drew attention from many and went viral, largely due to CZ’s clarification.

In a statement posted on X, CZ emphasized:

“Do I oppose memecoins? No. Not being interested in something doesn’t mean I oppose it. I’m not interested in sports cars; I don’t collect art; I haven’t bought NFTs; I also haven’t bought most altcoins (I only hold BTC and BNB). But I don’t oppose any of those.”

In other words, while CZ isn’t interested in memecoins, he respects their existence in the crypto world.

Binance Launches TST and 1000CHEEMS: What Does It Mean?

Binance, known as one of the largest cryptocurrency exchanges in the world, surprised many by listing two new coins last Sunday: Test (TST) and 1000CHEEMS.

While $TST is not a major project with grand goals or visions like Bitcoin or Ethereum , its presence on Binance raised questions about whether CZ and Binance are starting to support memecoins that lack clear long-term objectives.

However, CZ emphasized that the launch of TST does not signal Binance’s embrace of all types of memecoins. He views TST more as an experimental token rather than an asset with real long-term investment value.

This launch was primarily aimed at educating the cryptocurrency community, rather than being an official endorsement of memecoins.

Crypto Investor Trend Shift: Move Towards Memecoins

In his clarification, CZ also addressed a new phenomenon in the crypto world: the shift in investor interest towards memecoins. He explained that many crypto investors have moved towards memecoins due to increasing regulatory pressure on altcoins.

This has led many investors to believe that, despite their lack of clear utility, memecoins could serve as a profitable investment alternative in the short term.

Additionally, CZ stated that he was never asked for approval by Binance management before deciding to list the $TST token on the platform.

The decision was made internally by the Binance team to offer users a variety of options, including memecoins that are currently popular within the crypto community.

References:

• Crypto Times. CZ: “I Am Not Against Memecoins” After TST Launch on Binance. Accessed February 11, 2025.
• Featured Image: Bloomberg