Changpeng Zhao, commonly known as CZ, has openly criticized the listing mechanism used by Binance, the cryptocurrency exchange he formerly led. In numerous posts on social media, he has articulated his concerns regarding the listing of a new TST meme coin, stating that the system is “a bit broken”. These remarks come in the wake of observations about the listing process and its potential to enable market manipulation.

CZ

Following the recent surge of interest in TST, which was originally designed as an educational tool for a BNB Chain tutorial, CZ made it clear that he did not support or promote this token. Despite his comments, TST quickly gained a market cap close to half a billion dollars before the official Binance listing led to a sharp decline in its value.

CZ’s Perspective on Binance’s Listings

CZ has identified the rapid listing process adopted by Binance as problematic, typically allowing only a limited time frame for announcement and actual listing—often around four hours. This narrow window contributes to price fluctuations and potential exploitation on decentralized exchanges before the token’s arrival on the exchange, leading to artificially inflated prices followed by significant drops.

TSTUSD

He advocates for improving the listing process to mitigate speculative trading and ensure investment decisions are made based on a token’s utility and fundamental values. He believes that adopting a more thoughtful approach like those seen in decentralized exchanges can foster a fair and transparent trading environment.

“TST got listed on Binance. A few thoughts:”
“I clarified that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification just made it more viral…”
— CZ 🔶 BNB (@cz_binance) February 9, 2025

Following the TST incident, CZ emphasized his reluctance to engage with meme coins and NFTs, expressing that his focus remains on the core principles of blockchain technology. His critical stance reflects a commitment to the foundational goals of the cryptocurrency sector rather than speculative ventures.

RELATED: CZ’s New YZi Labs, A Family Venture Post-Binance

Shifts Post-CZ Resignation

Binance, since CZ’s resignation, appears to have altered its listing practices, resulting in significant losses for tokens after their listings. Previously, the exchange would witness dramatic price surges following listings. However, recent trends reveal a tendency for extreme post-listing declines across numerous tokens, raising questions about the effectiveness and strategy underlying the current process.