Changpeng Zhao has expressed concerns about the listing process for Binance’s cryptocurrency assets, calling it “a bit broken.”
Zhao, one of the exchange’s co-founders, recently shared his thoughts on Test (TST), a test token launched by the BNB Chain team for a tutorial video on creating memecoins using the Four.meme launchpad platform, on the social media platform X.
Following Binance’s listing of TST, the asset experienced significant price volatility.
Zhao elaborated, stating, “I think the Binance listing process is a bit broken. They announce, then list four hours later. The notice period is necessary, but in those four hours, the token prices surge on DEXes (decentralized exchanges), and then people sell on CEX (centralized exchange)… Not sure if there is a solution for this though. Just beware.”
The former Binance executive clarified that he did not endorse the TST listing and emphasized his focus on fundamentals rather than memecoins. However, he noted that not being interested in something does not equate to opposition. Zhao highlighted his efforts to support various altcoins and the crypto industry.
Zhao, who served as Binance’s chief executive until November 2023, when he pleaded guilty to violating U.S. anti-money laundering laws, spent time in a minimum security prison in California and a halfway house last year.
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