Despite the volatility in the crypto market, meme coins continue to rise in popularity, with some experiencing substantial price surges. One such meme coin that has recently gained attention is Test (TST), a new token on the Binance Smart Chain. Rumors have circulated claiming that Test (TST) is somehow linked to Changpeng Zhao (CZ), the founder of Binance. However, CZ has stepped forward to address the growing buzz and clarify his involvement with the coin.
CZ Clears Up the TST Confusion
In a recent post, CZ took to social media to clarify that TST was never officially endorsed by him or Binance. “It was just a test token used in a video tutorial,” CZ explained. Despite this clear clarification, TST’s popularity only seemed to intensify. As CZ humorously pointed out, “Every clarification post just made it more viral for whatever reason.”
TST got listed on Binance. A few thoughts:
— CZ 🔶 BNB (@cz_binance) February 9, 2025
1. CZ said “fundamentals”, then talks about a test coin turned meme coin.
I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral…
Addressing the issue of TST’s listing on Binance, CZ explained that he wasn’t directly involved in the decision. “Exchanges want to list popular coins with high trading volume,” he said. “If your coin is in demand, you don’t need to talk to exchanges. Just focus on your project.”
Is CZ Moving Away From Crypto Fundamentals?
With the rise of meme coins, some have wondered whether CZ is shifting his focus away from the fundamental principles of cryptocurrency. CZ was quick to put those concerns to rest, stating, “I’m a builder. I always focus on fundamentals.” He further clarified that while he hasn’t purchased any meme coins himself, it doesn’t mean he opposes them. “I’ve worked hard to support many altcoins and the crypto industry as a whole, and I have the same view on meme coins,” he added.
Why Are Meme Coins Gaining Popularity?
CZ also offered his perspective on why meme coins like TST have gained traction over utility tokens. He pointed out that increased regulatory scrutiny on utility tokens has pushed some investors toward meme coins as a safer alternative. Additionally, the speculative nature of meme coins, which are harder to value, makes them more attractive to traders looking for high-risk opportunities. “Memes are fun, and there’s a whole community around them,” CZ concluded.
Also Read: Cardano (ADA) Partners with Walmart for Crypto Cashback Program, Boosting Adoption and Utility
As the crypto landscape continues to evolve, meme coins like TST remain an intriguing topic in the ongoing conversation about market trends.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
