Binance recently listed the Test Token (TST) on BNB Chain and criticized the token listing process in the central stock exchanges, Changpeng Zhao (CZ), the founding partner of the stock market. CZ, stating that the process is corrupted, the central stock exchanges should adopt a more automatic listing method similar to the decentralized stock markets (Dex).
TST’s Binance Listing and CZ’s explanations
Binance recently listed the TST Token, which led to various controversy in the market. TST was actually created as part of a video training describing the process of creating a memecoin on BNB Chain. However, on February 9, TST’s market value rose to $ 489 million, then fell to $ 170 million.
https://twitter.com/cz_binance/status/188885939327577777491
CZ stressed that TST is not approved by Binance or himself in his sharing on X. “TST was only one test token and was part of a video training”CZ said that every statement about Token has caused him to become even more popular.
The listing process of central stock exchanges creates controversy
CZ, the current listing process in the central stock exchanges contain serious problems, he added. He said that the announcements made before a new token was listed, caused price fluctuations. Usually there is only a few hours of announcement and listing, increasing speculative movements.
https://twitter.com/cz_binance/status/18888594165896032453
In this process, the tokens listed in Dex gains value rapidly and investors who make early purchases cause a sudden decline by selling when listed in the tokens center stock exchange. CZ suggested that central stock exchanges can manage this process with a more automatic and transparent system.
CZ explained his perspective on Memecoins
In 2024, CZ admitted that the Memecoins became one of the biggest trends in the crypto market. However, he said that he did not invest, not to be interested in something, he said that I am against him.
https://twitter.com/cz_binance/status/18888680094736240919
He also stated that he did not move away from the fundamentals -oriented approach and still focused on building innovations in the crypto ecosystem. However, he added that the market did not reject the interest of Memecoins and that such projects have become an area that should not be ignored for stock exchanges.
