CZ Addresses TST Listing: ‘Memes Are Fun,’ He Says

Binance co-founder and former CEO CZ (Changpeng Zhao) first tweeted about it on February 6.

CZ explained that the coin was initially created as a test, but a trader noticed the name in the video and began trading it. He also clarified that the post shouldn’t be viewed as an endorsement for the coin.

On February 9, CZ posted about the TST token again after Binance announced its listing along with another memecoin, called Cheems (1000CHEEMS).

Following this, other large exchanges, including HTX, Bybit, and KuCoin, listed TST.

Why Did Binance List TST? CZ Addressed Questions 

TST’s listing on Binance received mixed reactions from the community. The main reason for this is the risky nature of memecoins and their price fluctuations depending on the hype.

Some users expressed concerns that CZ’s post-clarification about TST drove the coin’s price up, while others recalled a recent post by him urging investors to stick with fundamentals instead of chasing quick gains.

According to CoinMarketCap, at the time of writing, TST’s market cap is above $155 million, down 62% in the last 24 hours. The token trades at around $0.16, which is 69% down from its all-time high of $0.5244 at the time of launch on February 9.

In an X post, CZ addressed community questions raised about the memecoin through several key points. First, he mentioned that his previous TST post was meant to clarify that the BNB Chain team doesn’t endorse the token. However, “for whatever reason,” the coin became more viral with every clarification post.

Next, CZ added that he’s not shifting from fundamentals and that as a builder, that will always be his focus.

Regarding his stance on memecoins, CZ stated that he is not into them but not against them either.

Not “into” something doesn’t mean I am against it. I am not into sports cars; I don’t collect art; I haven’t bought any NFTs; I also haven’t bought most altcoins (I hold BTC and BNB). But I am not against any of the above.

– he clarified. 

So, Why Did Binance List TST? 

“I don’t know for sure,” CZ said. He added that he’s not entirely involved in the listing process. However, he mentioned some factors that exchanges take into account when adding a token.

According to CZ, historical experience shows that people always complain about token listings, but the truth is that exchanges must compete to list popular tokens by trading volume as soon as possible.

Are Memecoins Good According to CZ? 

The Binance co-founder says he’s not sure why people buy memecoins instead of utility tokens, while also mentioning the regulatory challenges utility tokens have faced.

During the last four years, a powerful regulatory agency sued almost anyone with any utility token, falsely claiming they are securities. So, people started to launch memes.

– CZ noted. 

Next, he mentioned that memecoins’ speculative nature is attractive for a group of traders who use them as part of their strategy.

Another point CZ highlighted is culture. He says memes are fun, they are a cultural phenomenon, and that many people passionately support them. Therefore, his opinion is not against the community.

He concluded his post by saying that there are many investment opportunities in the market. He encouraged people to build things others want and to manage risks.

The whole TST saga just proves how wild and unpredictable memecoins can be. One minute, it's just a test token from an educational video, and the next, it's getting listed on major exchanges. 

Even though CZ has made it clear he’s not involved in the listing process, his words still have a huge impact on the market. And let’s be real – love them or hate them, memecoins aren’t going anywhere anytime soon.