原文标题：Binance Co-Founder CZ: ‘I Haven’t Bought a Single Meme Coin or NFT’
Original author: Vismaya V
Original source: https://decrypt.co/305216/binance-co-founder-cz-i-havent-bought-a-single-meme-coin-or-nft
Compiled by: Tom, MarsBit
Binance’s former CEO has denied buying meme coins or NFTs, attributing their rise to speculation and regulatory scrutiny of utility tokens.
Binance co-founder and former CEO Changpeng Zhao, better known as CZ, has made it clear — he has never purchased meme coins or NFTs.
On Sunday, CZ took to Twitter to express his commitment to cryptocurrency “fundamentals” and distance himself from the hype-driven meme coin culture that continues to dominate parts of the industry.
"So far, I have never bought a meme coin," he tweeted on Sunday, adding that his holdings are limited to Bitcoin (BTC) and Binance Coin (BNB).
"I don't like sports cars; I don't collect art; I have never bought any NFTs; I also haven't bought most altcoins," CZ wrote. "But I do not oppose these."
Although CZ has stepped back from the daily operations of Binance, his words still impact the entire industry.
"CZ's recent comments highlight the debate between speculation and functionality," said Vedang Vatsa, founder of Hashtag Web3, to (Decrypt). "As speculation rises, traders and developers may need to adapt wisely to market dynamics."
Although CZ is not interested in buying meme coins, he made it clear that he does not oppose these tokens.
"Disliking something does not mean I oppose it," he said, claiming he has been supportive of many altcoins in the crypto industry.
The rise of meme coins
CZ also provided his insights on why meme coins are so popular, stating that regulatory scrutiny of functional tokens may play a role.
The former Binance CEO mentioned that a "powerful regulator" has "sued anyone who has functional tokens, wrongly claiming they are securities" over the past four years. He believes this has pushed project parties to launch meme coins instead of functional tokens.
Although CZ did not specify which regulator, during the Biden administration, the SEC, under former chairman Gary Gensler, conducted stringent reviews of the crypto market and repeatedly classified crypto assets as securities.
CZ personally has had experiences with SEC scrutiny; in 2023, the SEC sued him and Binance for violating securities laws, before he was forced to resign from Binance and reached a multi-billion dollar settlement with the U.S. Department of Justice. Last November, lawyers for Binance and CZ filed a motion in court to dismiss the SEC's amended complaint in the civil lawsuit.
With the new government's friendlier attitude towards the crypto industry, there may be a regulatory shift that could drive broader use of functional tokens.
Besides regulation, CZ also pointed out that traders are naturally inclined toward speculation, and meme coins fit this pattern perfectly.
"Things with clear physical value are harder to speculate on," he said, noting that stable assets are usually difficult to attract significant trading activity due to predictable valuations.
This is not the first time CZ has expressed concern over the meme coin frenzy.
Last November, he commented on the extreme nature of meme coin promotions, stating, "It's a bit strange now."
His statement came after a bizarre incident during a live token issuance event on Solana based on the Pump.fun platform - a creator pretended to hang himself on camera, apparently to push token sales through this act.
TST event
CZ's remarks coincided with the outbreak of the TST token controversy, where a test meme coin in Binance tutorial videos unexpectedly skyrocketed - reaching a market cap of $500 million before quickly collapsing.
TST was supposed to be a tutorial tool on how to issue meme coins on the BNB Chain platform.
However, in the video, the token name suddenly appeared at 1 minute and 18 seconds, triggering speculative behavior.
Although the BNB Chain removed the video, it was too late - influencers in China's crypto circle seized the opportunity and sparked a buying frenzy.
CZ repeatedly clarified that he was not involved in it, but traders continued to push prices up.
"This is not an official token from the BNB Chain team or anyone else," he wrote on Twitter last Thursday. "It is just a test token used for video tutorials, nothing more."
Binance's 'failed' token listing process
In the TST controversy, CZ criticized Binance's token listing process, pointing out that the announcement leads to a four-hour window before the listing, allowing traders to manipulate prices before CEX trading begins.
"As an observer, I think there are some issues with Binance's token listing process," CZ wrote on Twitter. "They announce first, and then list four hours later."
The announcement period is necessary, but during these four hours, the token price started to skyrocket on DEX, and then people sold out on CEX... However, it's uncertain if there's a solution. Just be careful, " the crypto leader wrote.
Despite the meme coin craze showing no signs of slowing down, CZ remains focused on the fundamentals.
"There is a lot of money in the market ready to invest... There are many opportunities," he added. "You need to create what people want."