TechFlow News — On February 9, Binance founder CZ posted on X platform regarding the listing of TST on Binance, sharing several thoughts:
1. I talked about "fundamentals," then saw how a test coin turned into a meme coin. I posted to clarify that TST has not been endorsed by me or us. It was merely a test token used in a video tutorial. But for whatever reason, every clarification post only made it more popular.
2. Is CZ drifting away from fundamentals? No. I am a builder. I’ve always focused on fundamentals.
3. Does CZ now "like" meme coins? That depends on your definition of "like." To date, I haven’t purchased a single meme coin.
4. Then, is CZ against meme coins? No. Not "liking" something doesn’t mean I oppose it. I don’t like sports cars; I don’t collect art; I’ve never bought an NFT; I haven’t bought most altcoins (I hold BTC and BNB). Yet I don’t oppose any of these things. Most of you would agree that I’ve worked hard and gone "all out" to help many altcoins and the broader crypto industry. I view meme coins the same way.
5. Why was TST listed on Binance? I’m not entirely sure. I had absolutely no involvement in their listing process. Based on past experience, people always complain, “Why did you list this but not my token?” You might not like hearing this, but the reality is: exchanges must compete to list trending tokens early (those with trading volume). If your token is actively sought after by traders, you don’t need to talk to exchanges. As I often say, focus on your project, not the exchange.
6. Why do people buy memes instead of utility tokens? I don’t know, but I’ll risk taking a guess (pun intended). Over the past four years, a powerful regulator has sued nearly everyone with utility tokens, falsely claiming they are securities. As a result, people started launching memes instead.
There’s a category of traders called speculators. Things with clear, tangible value are harder to speculate on. Their prices tend to stay close to their intrinsic value. This poses a real challenge for RWA. For example, a building whose value doesn’t fluctuate much may see little trading activity. Consequently, it lacks liquidity, the order book becomes thin, and trading activity further declines—a vicious cycle.
Memes are fun, etc. This is cultural. I’m no expert here. There are many staunch defenders of memes. Don’t go against the community.
7. Clearly, there’s a huge amount of capital available in the market for investment. Opportunities abound. You need to create things people want.
8. Finally, as an observer, I think Binance’s listing process has some issues. They announce a listing, then launch it just four hours later. Notice periods are necessary, but within those four hours, the token’s price surges on DEXs, then people dump it on CEXs...
