Binance Founder CZ Says ‘I am Not Against Meme Coins,’ But Declares He’s Not Investing in Them

Even with the crypto market going through a lot of ups and downs, new meme coins are starting to gain more attention and even see some big price boosts. One meme coin making headlines is Test (TST), a new coin on the Binance Smart Chain. There have been rumors that it’s linked to Changpeng Zhao Changpeng Zhao   Changpeng Zhao, popularly known as CZ, is a Chinese-Canadian businessman. He founded Binance, the biggest cryptocurrency exchange in the world based on trading volume. CZ came across Bitcoin (BTC) in 2013 from a friend.   Quick Facts   Full Name Changpeng Zhao Birth  1977 in Lianyungang, Jiangsu, China Nationality Chinese-Canadian, UAE Education BSc. from McGill University Marital Status Married to Yang Weiqing Famous For Binance, Advocate for decentralized finance, blockchain tech. Net Worth $59.4B (refer for realtime)   Before starting Binance in 2017, he was the Head of Development at Blockchain.info and the Chief Technology Officer (CTO) at OKCoin. Under CZ, Binance launched an ICO (Initial Coin Offering) that raised $15 million and rapidly became the largest exchange within months.   To improve trading options, the firm introduced Binance Smart Chain (BSC), Binance Labs, Binance Academy, Binance Launchpad, and other blockchain-based solutions. CZ has influenced the global adoption of crypto by offering regulatory compliance, DeFi solutions, and infrastructure for digital assets.   CZ’s Career Timeline   Tokyo Stock Exchange (2001–2003) – Developed trading systems for financial institutions. Bloomberg Tradebook (2003–2005) – Worked as a software developer for high-frequency trading systems. Fusion Systems (2005–2013) – Co-founded this financial technology firm specializing in ultra-low-latency trading solutions. Blockchain.info (2013–2014) – Served as Head of Development, working with early Bitcoin adopters like Roger Ver and Ben Reeves. OKCoin (2014–2015) – Worked as Chief Technology Officer (CTO) at one of the largest fiat-to-crypto exchanges at the time. Binance (2017–2023) – Founded Binance and led it to become the world's largest cryptocurrency exchange before stepping down as CEO in 2023.   Awards and Recognizations of CZ   List of achievements Year Bloomberg 50 – Most Influential People in Finance 2021 Forbes Crypto Rich List – Billionaire Status 2022 Top 10 Most Influential People in Crypto (CoinDesk) 2022 Binance – World’s Largest Crypto Exchange by Volume 2018-23   There were regulatory issues in some countries about crypto. However, CZ continued to support decentralization, financial freedom, and innovation in the cryptocurrency industry. After reaching an agreement with U.S. regulators over compliance violations, in 2023, he resigned as CEO of Binance.   Useful Links To Connect With CZ   X (formerly Twiter) https://twitter.com/cz_binance? Instagram CZ_Binance (@changpengzhao)  LinkedIn Changpeng Zhao - Binance | LinkedIn     EntrepreneurInvestorChief Executive Officer the founder of Binance. But CZ has stepped in to clear things up and address the growing buzz around TST.

CZ Sets the Record Straight About TST

CZ recently posted online to explain that TST was never officially endorsed by him or Binance. “It was just a test token used in a video tutorial,” he said. Despite his clarification, TST’s popularity only grew. “Every clarification post just made it more viral for whatever reason,” CZ jokes.

As for the listing of TST on Binance, CZ explained that he wasn’t involved in the decision. “Exchanges want to list popular coins with high trading volume,” he said. “If your coin is in demand, you don’t need to talk to exchanges. Just focus on your project.”

Is CZ Moving Away From Fundamentals?

With the rise of meme coins, many wondered if CZ was shifting his focus away from the core principles of crypto. However, CZ made it clear that this was not the case. “I’m a builder,” he said. “I always focus on fundamentals.”

Does he have any interest in meme coins? CZ said he hasn’t bought any. “I haven’t bought a single meme coin yet,” he confirmed. He also said  that just because he’s not into meme coins, it doesn’t mean he’s against them. “I’ve worked hard to support many altcoins and the crypto industry as a whole, and I have the same view on meme coins.”

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Why Are Meme Coins So Popular?

So why are meme coins like TST becoming so popular, especially compared to utility tokens? CZ had a few thoughts on this. He pointed out that in recent years, regulators have cracked down on utility tokens, calling them securities, which led some people to turn to meme coins as a safer option.

He also explained that meme coins are harder to value, which makes them attractive to speculators. “Things with clear value are harder to speculate on,” he said. “Memes are fun, and there’s a whole community around them.”