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Changpeng Zhao, co-founder of Binance, addressed the recent disruptions in the asset listing process on social media. He shared insights on the issues surrounding this process using a test token named TST, which was developed for educational purposes by the BNB Chain team. The related token gained attention through the use of the Four_meme launchpad aimed at creating memecoins.
CZ’s Listing Insights
Zhao noted that the transition from announcement to listing in Binance’s asset listing procedure is notably brief. During this short period, price increases were observed in decentralized markets, followed by sales on central platforms. He highlighted that sudden changes during transactions can lead to market fluctuations.
“The Binance listing process has some issues. An announcement is made, and within four hours, the listing happens. During this time, token prices rise on decentralized exchanges, followed by sales on centralized exchanges. Since I don’t have a concrete solution, I advise caution.” – Changpeng Zhao
Market and Token Impacts
Following the listing of the TST token, sudden price fluctuations in the markets were observed. Zhao suggested that the rapid process and its effects on the token’s price spikes could pose risks for traders. There were suggestions that extending the announcement period before listing could be beneficial.
Zhao clarified that he does not support the listing of TST, yet this stance does not imply a negative attitude towards the token. He mentioned that he does not include assets like sports cars, art collections, or NFTs in his investment preferences, though he does not oppose these assets.
As the former CEO of Binance, Zhao faced penalties for violating U.S. anti-money laundering laws after stepping down in November 2023. This incident has sparked industry discussions regarding Binance’s listing procedures.
In light of ongoing discussions about Binance’s listing process, investors are advised to remain vigilant against sudden market fluctuations.
