CZ responds to mounting speculation about his involvement with meme coins

Binance Founder Addresses Meme Coin Rumors

Changpeng Zhao (CZ), founder of Binance, has dispelled rumors of his involvement in meme coin trading, describing himself as a "blacksmith" who focuses on building tools rather than following market trends.

CZ's Perspective on Meme Season

CZ acknowledges the current "Meme Season" in the crypto industry, characterized by the emergence of popular tokens like TST and Broccoli within the Binance ecosystem. However, he emphasizes that he is not a typical centralized exchange (CEX) user, preferring to hold assets long-term.

Solana vs. Ethereum Meme Coins

The discussion surrounding meme coins has also highlighted differences between those on Solana and Ethereum. Many believe Solana's superior infrastructure, with faster transactions and lower fees, contributes to the success of its meme coins compared to those on Ethereum.

Scrutiny of BNB Chain

The BNB Chain has faced scrutiny from the crypto community, with concerns raised about:

• MEV Issues: The Maximal Extractable Value system is said to favor a small group of validators, creating an unfair environment.
• Centralization Concerns: The concentration of power among only 21 key nodes controlling governance limits the participation of new validators.
• Lack of Innovation: Critics argue that BNB Chain lacks original ideas or features.
• Value Retention Issues: The rising price of BNB discourages new users from participating in governance.

Community members are calling for reforms to address these concerns and improve scalability and accessibility on the BNB Chain.