The Token That Taught CZ a Harsh Lesson 🎢

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Binance co-founder Changpeng Zhao (CZ) recently weighed in on the hilariously chaotic Test (TST) token saga, calling the exchange’s listing process “broken.” Now, “broken” is probably not the word you want to hear from a guy running one of the world’s biggest cryptocurrency exchanges. You’d hope for something a little more… fixed? 🔧 Just last week, CZ uploaded an innocent little video tutorial featuring the Test Token, which promptly sent its price into an acrobatic frenzy. And then, in true plot-twist fashion, CZ clarified it was all for “educational purposes”—he doesn’t even endorse the thing. 🎓

But wait, plot thickener ahead! Binance actually announced a TST listing because, well, trading volume was off the charts, and who doesn’t love a good hype train? 🚂 This move sparked a fiery debate in the crypto community, with folks demanding explanations about the “fundamentals” of this seemingly meme-fueled roller coaster. Somewhere out there, someone is weeping over a spreadsheet of token data that clearly didn’t scream “fundamentals.” 😂

Is CZ Joining the Meme Coin Circus? 🤔

For a guy who’s been the poster child of backing solid, no-nonsense projects, CZ sure has some explaining to do. I mean, when you’re out there preaching fundamentals but then actively sharing videos featuring what’s essentially a meme token, people are going to ask questions. And boy, did they! “Wait, CZ, are you ditching the fundamentals for… memes? Really?” The crypto crowd was not holding back.

“I don’t know for sure. I am entirely NOT involved in their listing process. Based on historical experience, people always complain: ‘Why do you list this but not the coin I hold?’ Honestly, exchanges need to compete to list popular coins (with trading volume) as early as possible. Work on your project, not the exchanges!”

Translation: “Don’t hate the player; hate the game. 🎲”

On the topic of meme coins, CZ further clarified: “Memes are fun, etc. It’s a cultural thing. I am not an expert in this area. Don’t go against the community.” So basically: “Don’t @ me, guys.” 😂

A Token Listing Process So Wobbly, It Needs Training Wheels 🚲

CZ confessed the reality we all suspected but hoped wasn’t true: Binance’s token listing process is, er, “a bit broken.” Specifically, the 4-hour notice period between announcing a token listing and the actual listing is like shouting “Free pizza!” in a crowded room but waiting four hours to deliver it. The chaos is inevitable. 🍕

“In those 4 hours, token prices surge dramatically on decentralized exchanges (DEXs), only for a sell-off on centralized exchanges (CEXs). It’s like a pump-and-dump Olympics!” Zhao sighed. 🤦‍♂️ Suggestions for simultaneous CEX and DEX listings have been tossed around like a hot potato, but CZ noted, “I tend to agree. But I am not running a CEX anymore.” Mic. Drop. 🎤

The TST Roller Coaster 🎢

And boy, what a ride it’s been! Minutes after the Binance announcement, TST went on a joyride, skyrocketing 300% to hit $0.50 a piece. Trading volume exploded 372% to an eyebrow-raising $1.42 billion. Cue party poppers everywhere. 🎉 Then came the inevitable crash. The token’s price plummeted 60% (ouch) and now languishes below $0.20 like a sad, rejected meme. Someone out there is clutching their portfolio and whispering, “This is fine.” 🔥

Meanwhile, unrelated but equally baffling, the BNB token seized the moment to jump 7%. Must be nice being the teacher’s pet. 😏

And thus concludes the tale of CZ, TST, and what can only be described as the most expensive cryptocurrency tutorial ever created. Tune in next time for more tales of decentralized debauchery! 🪙

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2025-02-10 10:17