CZ Speaks About Meme Coins!

Meme coins are becoming popular in the cryptocurrency market nowadays. Some investors earned vast amounts of money with the early discovery of the coins. Sure, the rest of the investors also were losers. Some meme coins with high volumes were listed by the biggest CEXs. One of them is a Binance Exchange.

The biggest cryptocurrency exchange in the world Binance’s CEO Changpeng Zhao talked about the topic. CZ answered questions in the Twitter Spaces’ AMA (ask me anything). CEO talked about KYC, the Next generation of cryptocurrencies, NFTs, Token listings, etc. besides meme coins during the AMA.

Table of Contents

I Don’t Understand Meme coins

First of all, CZ shared its thinking when was talked about them. He said that he doesn’t understand meme coins as individuals. He thinks that they haven’t got any value. According to CZ, the main reason is that. Furthermore, he added he always likes cryptocurrencies that have real-life use. Despite all his thinking, he said that my opinions don’t play any role in listing procedures.

On meme coins, I don’t really understand them, but I’m deliberately not involved in Binance’s listing process. I don’t have the time. And I don’t want to get involved. I don’t want to be pushing any coin for listings because I don’t want to be associated with that process.

But Elon Musk Knows Them

He said again he doesn’t understand them when conveyed his thoughts about them. However, he mentioned that Elon Musk and some successful people in the sector know about them. Additionally, CZ said that the exchange pays attention to all factors because these digital assets consists too risky.

But I’ll comment on meme coins in general. I personally never really understood meme coins. There are many successful people who do seem to understand them, including Elon Musk, and others, so we go by users. If a coin has a lot of users trading it, wanting it, playing with it, etc., then we’ll most likely list it. If the coin only lasts for the weeks, then we probably won’t. But if it holds, then we probably will. So we view coins from a user perspective.

Later on, the CEO said that they were not against them. He added that they don’t against any cryptocurrencies. Overall, he said users are the most important thing for the Binance.

You might also like: Crypto Wallets: Hot vs. Cold Wallets

Dogecoin Was The Most Surprising One For Me

Zhao commented on also Dogecoin during the AMA. CZ didn’t hesitate to say that Dogecoin was misleading him. Additionally, he talked about SHIBA INU at the end of the AMA.