Changpeng Zhao, the co-founder of Binance, has expressed concerns over the crypto exchange's asset listing procedure. In a recent post on the social media platform X, Zhao commented on Test (TST), a test token introduced by the BNB Chain team to demonstrate memecoin creation on their Four.meme launchpad.
Recently, Binance listed TST, leading to significant price volatility. Zhao stated, "I think the Binance listing process is a bit broken. Announcements precede listing by just four hours, causing token prices to surge on decentralized exchanges before being sold on centralized ones. While a notice period is essential, this timeframe presents challenges."
Despite these points, Zhao noted that he neither endorsed the TST listing nor is opposed to it, emphasizing his focus on fundamentals rather than memecoins.
Zhao elaborated, "Not being 'into' something doesn't imply opposition. I am indifferent to sports cars, art, and NFTs and hold mainly BTC and BNB. However, this does not translate into an opposition. My efforts toward supporting altcoins and the crypto industry are well-known, and I hold a similar view on memecoins."
Zhao served as Binance's CEO until November 2023, stepping down after pleading guilty to violating U.S. anti-money laundering regulations. He subsequently served a sentence in Lompoc II, a minimum-security facility in California, followed by time in a halfway house.