Changpeng Zhao, the CEO of Binance, recently shared his thoughts on meme coins at a Twitter meeting. According to Zhao, he does not understand them and has never been involved in the listing process on Binance. He also revealed that a separate team makes the listing decisions for meme coins.
“I personally never really understood meme coins. There are many successful people who do seem to understand them, including Elon Musk, and others, so we go by users.”
Separate Team Handles Listing of Meme Coins on Binance
During the Twitter meeting, Zhao stated that he does not have time to participate in the listing process and therefore relies on a separate team to make the decisions. He mentioned that the team considers meme coins’ interest and trading volume when deciding whether to list them on the exchange.
— Binance (@binance) May 1, 2023
Despite not understanding them, Zhao stated that he is not against them and recognizes that many successful people, including Elon Musk, understand them. He believes that Binance should address the needs of its users, which includes providing access to meme coins.
Binance’s listing decisions have contributed significantly to the rise of meme coins in the past. For example, the listing of Floki Inu on Binance caused its price to increase by up to 50%. Zhao recognizes the impact of Binance’s listings and is open to listing meme coins with high trading volume on demand.
Pepe Coin and Binance Listing
Pepe Coin, which launched on April 14, 2023, has gained significant attention and price appreciation in the past few weeks. Its price has risen by almost 38,900% since its launch due to a social media frenzy. The hype around Pepe Coin led to speculation about its listing on Binance.
According to sources, Zhao gave the green light for listing Pepe Coin on Binance, stating that altcoins can be listed “on demand and when the volume is high.” Other major exchanges, including OKX and Coinbase, have already listed Pepe Coin on their platforms.