CEO Changpeng Zhao, also known as CZ, recently spoke about meme coins and their listing process on the popular cryptocurrency exchange during an interview. According to CZ, the decision to list a meme coin is largely based on user demand and engagement with the coin.
CZ Remains Tight-lipped on Specific Coin Listings
CZ admitted that he has always found the concept of meme coins to be a mystery. However, he stated that if a coin has a large number of users who trade it, want it, play with it, and engage with it in other ways, then it is likely that Binance will list it. However, if a coin can only be used for a short period of time, such as 14 days, then it is unlikely that Binance will list it.
When asked about specific coins, CZ was tight-lipped. He cited Binance’s stringent regulations against insider trading and leaks. He emphasized that there is a significant risk of charges of insider trading, leaks, or other types of issues occurring, so he cannot comment on Binance individual initiatives.
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CZ went on to say that he has made a conscious decision to stay out of the listing process for meme coins on Binance. He does not want to be associated with the process of listing coins or be seen as pushing for any particular coin. He stated that Binance has a separate team responsible for evaluating coins and making listing decisions.
Binance CEO CZ Confirms Neutral Stance on Meme Coins
Despite his reservations about meme coins, CZ stated that Binance’s stance on these coins is neutral, and the exchange has nothing against any particular currency. The exchange’s primary focus is on its users. It considers a wide range of factors when evaluating coins for listing.
CZ’s comments suggest that Binance is open to listing meme coins. However, the decision ultimately depends on user demand and engagement with the coin. Binance’s neutral stance on meme coins and its rigorous evaluation process ensures that the exchange lists only those coins that meet its standards and are likely to be of interest to its users.
The craze for these tokens is on the rise these days. As per a latest study by CoinGeko, the US and India are the biggest markets of meme coins at the moment. UK and the Philippines are on the 3rd and 4th position respectively.