CZ’s Confession: Not Understanding Meme Coins, But Listing Them Anyway
- Changpeng Zhao (CZ) admits he does not understand them.
- Binance’s listing process mainly focuses on user demand, meaning that if a coin has many users trading it, it is more likely to be listed.
- CZ is deliberately not involved in Binance’s listing process, and an independent team evaluates these things.
Discover how Binance decides which coins to list. CZ explains that user demand is the top criterion. SHIB was listed due to high trading volume.
Changpeng Zhao, the CEO of Binance, recently participated in a Twitter AMA session where he answered questions about meme coins and token listings. Meme coins have become increasingly popular in cryptocurrency, and CZ’s comments shed light on how Binance determines which coins to list.
When asked how popular a meme coin needs to be before Binance lists it, CZ mentioned that he never really understood meme coins. However, he explained that the number one criterion for listing a coin on Binance is the number of users trading it, wanting it, playing with it, etc. In other words, user demand is the most important factor when listing a coin on Binance.
“I personally never really understood meme coins. But if a coin has a lot of users trading it, wanting it, playing with it, etc., then we’ll most likely list it.”
CZ also emphasized that Binance has strict policies regarding insider trading accusations, leaks, and other problems. Even if Binance talks with a project team, they forbid them from disclosing anything. CZ deliberately does not get involved in Binance’s listing process, and an independent team evaluates these things.
Binance listed SHIB, one of the most well-known meme coins, with high trading volume on the platform. This suggests that Binance is not against meme coins or any coin. However, CZ mentioned that if a coin only lasts for two weeks, it probably won’t be listed.
“We listed SHIB and it’s actually one of the coins on Binance with higher trading volume. So we’re not against meme coins.”CZ said
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