Binance founder Changpeng “CZ” Zhao has publicly distanced himself from the listing of TST, a meme token that originated as a test coin in a BNB Chain tutorial. In a detailed post on X (formerly Twitter), CZ clarified that he had no involvement in TST’s listing and emphasized that neither he nor Binance endorsed the token.
“I posted to clarify that TST was NOT endorsed by me or us,” CZ stated, adding that each attempt to clear the matter only contributed to the token’s growing visibility. He also rejected claims that the listing indicated a shift in his stance on meme coins, reaffirming his focus on fundamentals. “I haven’t bought a single meme coin so far,” he noted.
The Rise of TST and Binance’s Response
TST was initially created as part of a BNB Chain educational video, demonstrating how to launch meme tokens on the four.meme platform. However, what began as a tutorial quickly transformed into a trading phenomenon. After the video’s release, traders flocked to the token, driving its market cap to $41 million before it eventually settled at $10 million.
Despite its listing on Binance, CZ stressed that he played no role in the decision. “I am entirely NOT involved in their listing process,” he wrote, explaining that exchange listings are often dictated by market demand. “Exchanges must compete to list popular coins (with trading volume) as early as possible. If your coin is actively sought after by traders, you don’t need to talk to exchanges.”
Adding to the controversy, CZ pointed out that some members of the TST community had improperly used Binance’s branding, including its logo, on their promotional materials. He called this an “infringement” and urged them to make corrections, suggesting they use an alternative verification symbol instead. “As far as I know, neither of them is made or controlled by BNB Chain or any Binance-related team,” he added. In response, Binance and the BNB Chain team removed the original tutorial video to distance themselves from the token.
Speculation, Regulation, and the Appeal of Meme Coins
The rapid rise of TST reignited discussions about the role of meme coins in the crypto ecosystem. CZ speculated on why traders gravitate toward meme tokens over utility tokens, citing regulatory pressures as a key factor. “A powerful regulatory agency sued almost anyone with any utility token, falsely claiming they are securities,” he said, suggesting that such crackdowns have pushed developers toward meme coins as a safer alternative.
Additionally, he noted that speculative trading favors assets with high volatility. “Things with clear tangible value are harder to speculate on,” he explained. Unlike utility tokens, which are tied to fundamental use cases, meme coins thrive on community engagement and price swings. “It’s a cultural thing,” he admitted, while emphasizing that he is neither an advocate nor a critic of meme coins.
Despite the financial success some traders have seen with TST—one early buyer reportedly made $2 million—CZ issued a cautionary note. “Please protect yourself and be responsible for your own actions,” he warned, highlighting the risks of investing in highly speculative assets. While Binance has made efforts to clarify its position, the situation underscores the unpredictable nature of crypto markets and the influence of social media-driven hype.
