Binance Founder CZ’s Hilarious Take on ‘Broken’ Listing Process

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The Test Token (TST) saga has become one of Binance‘s most debated moments over the past week. It all started when Binance’s co-founder Changpeng ‘CZ’ Zhao shared a simple tutorial video that mentioned TST.

Suddenly, the token’s price soared as traders rushed to buy it. However, he clarified that he has no ties with the TST token and is not promoting it. Despite this, the trading platform decided to list the token, fueling debate in the crypto community.

The debate within the crypto community hinges on Binance’s listing standards and CZ’s take on tokens with fundamentals.

The Binance Co-founder’s Video that Started It All

In the short tutorial video, Binance’s co-founder showed how to use a crypto wallet, and TST was used as an example, as reported by Coinspeaker. Many traders took this as a signal that Binance might list the token soon, so they rushed to buy it. As a result, the price jumped considerably within hours.

Later, CZ explained that the video was just for education and that he had no connection to TST. However, by then, the token had already gained attention, and Binance officially decided to list it based on its massive volume. This raised many questions in the community.

The co-founder responded, saying he had no role in Binance’s listing process. He explained that exchanges compete to list trending tokens as fast as possible. However, this answer did not satisfy everyone; some traders felt it confirmed that Binance prioritizes popularity over quality.

The TST incident also exposed a flaw in Binance’s listing system. CZ noted that when a new token is announced, it may take about four hours before it starts trading. During this time, traders rush to buy it on decentralized exchanges (DEXs), increasing its price.

Then, when the token finally becomes available on Binance, early buyers sell at a profit, often causing a price crash. CZ admitted this is a problem, noting that the exchange listing process is “a bit broken.” He even suggested that Binance automatically and instantly list tokens the way DEXs do.

However, he also reminded people that he no longer runs Binance and has no control over these decisions.

I tend to agree. I think CEX should list (almost) everything automatically, just like DEX. But I am not running a CEX anymore. 😂

— CZ 🔶 BNB (@cz_binance) February 9, 2025

As highlighted by Coinspeaker, CZ has returned to the crypto space to become a top advisor for the newly structured YZi Labs. This new entity is set to focus on Web3, artificial intelligence (AI), and biotechnology, a shift from the core crypto operations.

The TST Boom and Burst

After Binance listed TST, the price skyrocketed by over 300%, reaching $0.50, the token’s daily trading volume hit $1.42 billion at its peak in the past week. However, this rally was short-lived as the TST price dropped by 60% as quickly as it rose, falling below $0.20.

Market experts noted that this kind of price movement is common with meme coins, where hype drives the price more than real value. Interestingly, while TST went through wild price swings, Binance Coin (BNB) gained 7%, showing how exchange news can affect the market.

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2025-02-10 13:47