Binance's CZ Clarifies Stance on Meme Coins, TST's Viral Rise

Binance founder Changpeng Zhao (CZ) has clarified his stance on meme coins, stating that he is not opposed to them but has no plans to invest in them. The clarification comes amid growing interest in meme coins like Test (TST), which has gained significant attention and price boosts despite being a new coin on the Binance Smart Chain.

CZ took to social media to address the rumors linking him to TST, stating that the coin was never officially endorsed by him or Binance. He explained that TST was merely a test token used in a video tutorial. Despite his clarification, TST's popularity continued to grow, with CZ humorously noting that each clarification post seemed to make the coin more viral.

Regarding the listing of TST on Binance, CZ explained that he was not involved in the decision. He noted that exchanges are interested in listing popular coins with high trading volume, and if a coin is in demand, it does not require the involvement of exchanges.

CZ's clarification comes as many wonder if he is shifting his focus away from the core principles of crypto. However, CZ made it clear that he remains committed to fundamentals. He stated, "I'm a builder, and I always focus on fundamentals." He also confirmed that he has not bought any meme coins and is not interested in doing so. Despite his personal disinterest, CZ emphasized that he is not against meme coins and has supported many altcoins and the crypto industry as a whole.

The popularity of meme coins like TST has sparked curiosity about their appeal. CZ suggested that the recent regulatory crackdown on utility tokens, labeling them as securities, has led some people to turn to meme coins as a safer alternative. Additionally, he noted that meme coins are harder to value, making them attractive to speculators. The fun and community aspects of memes also contribute to their popularity.