CZ calls for automatic token listings on CEXs following TST listing on Binance
After the current itemizing of the BNB Chain’s Check Token on Binance, co-founder Changpeng Zhao criticized the token itemizing course of on centralized exchanges, calling it “damaged” and suggesting that exchanges ought to undertake a extra computerized itemizing strategy much like decentralized exchanges.
Binance co-founder and former CEO Changpeng Zhao, extensively referred to as CZ, has shared his ideas in regards to the current itemizing of the Check Token (TST) on Binance, one in all world’s largest crypto exchanges. When questioned in regards to the rationale behind TST’s itemizing on Binance, CZ defined in his post on X that exchanges usually record cash primarily based on recognition and demand, moderately than private involvement within the itemizing course of. “Exchanges should compete to record fashionable cash as early as attainable,” he mentioned, including that tasks with important buying and selling quantity are naturally prioritized.
https://twitter.com/cz_binance/standing/1888593393275777491
Zhao’s feedback come shortly after Binance listed TST, which had been created as a part of a BNB Chain’s walkthrough tutorial on the right way to create a meme coin on the 4.Meme launchpad platform on BNB Chain. On Feb. 9, TST noticed its market cap soar to almost $489 million earlier than dropping to round $170 million on the time of writing, in line with Coinmarketcap. In a sequence of tweets, CZ clarified the circumstances behind TST’s itemizing, emphasizing that it was by no means supposed to be an endorsement of the token itself. “TST was not endorsed by me or Binance. It was merely a take a look at token used for a video tutorial.” Nonetheless, as Zhao defined, each clarification publish simply made TST go extra viral.”
In his follow-up post, he criticized the token itemizing course of on centralized exchanges, calling it “a bit damaged.” He defined that the problem is with the brief time hole between an announcement of a brand new itemizing and the precise itemizing itself, which is usually only a few hours. In accordance with Zhao, this temporary discover interval causes important value fluctuations, with tokens usually seeing a spike in worth on decentralized exchanges after the announcement. Merchants, who usually monitor DEXs, then promote the token on CEXs as soon as it will get listed, resulting in fast promoting stress.
https://twitter.com/cz_binance/standing/1888594165896032453
Zhao then suggested that CEXs may benefit from a extra computerized itemizing course of, much like how tokens are listed on DEXs. He proposed that exchanges may record virtually any token robotically.
https://twitter.com/cz_binance/standing/1888680094736240919
Along with his feedback on CEX itemizing processes, the previous CEO additionally addressed considerations about his stance on meme cash, which have been the biggest narrative in crypto in 2024. When requested if he was shifting away from specializing in “fundamentals” in favor of meme cash, CZ maintained that his priorities remained unchanged. “I’m a builder. I all the time give attention to fundamentals.” Nonetheless, he clarified that whereas he personally has not invested in any meme cash, he isn’t against them. “Not ‘into’ one thing doesn’t imply I’m in opposition to it,” he defined.
