AI Summary
- With Pumpfun’s live stream feature being removed after newly made meme coins were getting way out of hand, Binance founder and ex-CEO CZ has said meme coins are getting “weird.” Although not outright hating meme coins, CZ has expressed his thoughts saying crypto investors should focus more on building “real applications.” CZ served a four-month prison sentence for violating bank secrecy.
- In a polarizing tweet, CZ stated that he is not against meme coins or memes but thinks the sector should focus on building real applications.
- DeFi apps and new blockchain innovations seem to be more on CZ’s radar, unlike Binance under its new manager, Richard Teng, who since taking up the throne has brought multiple meme coins to Binance, most of them with questionable origins. Over the past few months Binance under Richard Teng has made trading pairs for ACT I: The AI Prophecy (ACT), Peanut the Squirrel (PNUT), and First Neiro On Ethereum (NEIRO).
- In the past few days, meme coins on Pumpfun were all the rage and going viral as people tried their best to make the most edgy coins for a chance at gaining higher market caps.
With Pumpfun‘s live stream feature being removed after newly made meme coins were getting way out of hand, Binance founder and ex-CEO CZ has said meme coins are getting “weird.”
Although not outright hating meme coins, CZ has expressed his thoughts saying crypto investors should focus more on building “real applications.”
CZ served a four-month prison sentence for violating bank secrecy. Now out of jail and back online, CZ has shared his views on the market’s most popular investment trend.
Binance founder: “meme coins are getting “a little” weird now.”
In a polarizing tweet, CZ stated that he is not against meme coins or memes but thinks the sector should focus on building real applications.
DeFi apps and new blockchain innovations seem to be more on CZ’s radar, unlike Binance under its new manager, Richard Teng, who since taking up the throne has brought multiple meme coins to Binance, most of them with questionable origins.
Over the past few months Binance under Richard Teng has made trading pairs for ACT I: The AI Prophecy (ACT), Peanut the Squirrel (PNUT), and First Neiro On Ethereum (NEIRO).
ACT’s introduction to Binance was controversial due to the wider Crypto Twitter space barely knowing of its existence in the first place, with many on-chain researchers pointing out possible insider trades before ACT’s listing on Binance.
CZ is known for advocating blockchain builders and identifying strong DeFi projects to bring to Binance where they can find a large audience and following.
In response to CZ’s opinion on meme coins being “weird” he replied:
Not trying to end anything. 😆 Everyone have their choose on what to invest or hold. Just encouraging more builders.
Pumpfun and Solana meme coins
In the past few days, meme coins on Pumpfun were all the rage and going viral as people tried their best to make the most edgy coins for a chance at gaining higher market caps.
In one instance, a teenager created a meme coin and made $30k after selling his holdings on top of retail buyers. On Pumpfun, users have been live streaming themselves firing weapons and sitting in cages, hoping to boost their token’s market cap and make a highly profitable sale.
After listening to feedback and removing the livestream feature, Pumpfun has lost one of its most attractive features. Despite this, platform user growth and engagement remain steady, showing no signs of slowing. It seems CZ’s concerns about meme coin oddities will be largely ignored.
