Binance founder and former CEO Changpeng Zhao (CZ) addressed his followers on X after $TST was launched on the alternate on Sunday and claimed that he’s basically not in opposition to memecoins as they cater to a piece of crypto viewers. CZ additionally clarified that neither he nor his alternate has formally endorsed TST memecoin and insisted that he has by no means invested in any memecoin but.
In accordance with an announcement issued by Binance on Sunday, two cash Check (TST) and 1000CHEEMS have been launched on their alternate. The information got here as a shock for a lot of who thought CZ was basically in opposition to memecoins that largely serve no objective within the crypto business.
Addressing his followers on X, CZ wrote, “is CZ in opposition to meme cash? No. Not “into” one thing doesn’t imply I’m in opposition to it. I’m not into sports activities vehicles; I don’t acquire artwork; I haven’t purchased any NFTs; I additionally haven’t purchased most altcoins (I maintain BTC and BNB). However I’m not in opposition to any of the above. And I feel most of you’d agree, that I’ve labored onerous and “gone to some lengths” to assist many altcoins and the crypto business normally. I undertake the identical view in direction of meme cash.”
CZ additionally clarified that he was not requested by the administration earlier than itemizing TEST token on Binance and he additionally believes that a big part of crypto traders have just lately shifted to memecoins after hostile regulatory businesses began attacking altcoins.
“Over the last 4 years, a strong regulatory company sued virtually anybody with any utility token, falsely claiming they’re securities. So, individuals began to launch memes,” stated CZ.
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