Binance CEO Criticizes Listing Process

Changpeng Zhao Criticizes Binance’s Listing Process After TST Volatility

• Changpeng Zhao, co-founder of Binance, expressed concerns about the crypto asset listing process.
• Binance recently listed Test (TST), a token created for a tutorial by the BNB Chain team.
• The listing caused significant price volatility on decentralized exchanges (DEXes).
• Zhao noted that tokens often surge in price during the four-hour notice period before being sold on centralized exchanges (CEX).
• Zhao clarified he did not endorse TST and focuses on fundamental assets like BTC and BNB.
• He served as Binance’s CEO until November 2023 after pleading guilty to violating U.S. anti-money laundering laws.

Zhao highlighted issues with Binance’s asset listing process, noting that prices of tokens like TST spike during the short notice period before trading on CEX begins. He emphasized his focus on fundamental cryptocurrencies over memecoins.