Changpeng “CZ” Zhao, the former CEO of Binance, might be launching a meme coin based on his dog. The idea came after a social media exchange spiraled into a frenzy yesterday, with users pushing him to reveal his pet’s name and photo. It started when an X (formerly Twitter) user vented their frustration over Bitcoin’s failure to hold above $100,000, posting a meme about its price struggle. CZ jumped into the conversation, saying , “I remember a similar sentiment when Bitcoin crossed back and forth around $10,000 a few years back haha.” That’s when someone asked, “CZ, do you have a pet dog?” He answered: “Yes, not a Shiba Inu, but a Belgian Malinois.” CZ questions how meme coins even work Crypto Kemal responded immediately: “We need the name and photo ser.” CZ, seemingly caught off guard, quoted the post and asked, “Honest newbie question. How does this work? I share my dog’s name and picture, and then people create memecoins? How do you know which one is ‘official’? Or does that even matter? (I see many people asking for a name and a picture.)” Precisely thirty minutes later, CZ returned with an update. “Got the answers now. Pretty interesting how things work. Will mull it over for a day or so, as usual for big decisions😂. Respect his privacy, or dox the dog for the cause? Oh well, might even interact with a couple of the memes on BNB Chain.” His reaction set off speculation that he was considering dropping a meme token. Traders immediately started preparing for the possibility, anticipating that any involvement from CZ could send a token to the moon, naturally, since the guy is quite literally a crypto legend. CZ has always been skeptical of meme coins CZ has repeatedly voiced concerns over meme coins. In November 2024, he called the trend “a little weird” and urged developers to build real blockchain applications instead of hype-driven tokens, which folks in the crypto community now use as a meme after he spoke about the meme coin based on his dog. Now since 2023, meme coins have been dominating the crypto market and even the current bull cycle, particularly the ones built on the Solana blockchain. On Feb. 9, Binance posted a tutorial on launching one, but TST, the fake token used in the tutorial quickly surged as traders sniped it, and CZ quickly shut down speculation that Binance was involved, then saying: “I haven’t bought a single meme coin so far.” CZ has also distanced himself from Binance’s token listing decisions, criticizing how coins get listed. He admitted that the process is flawed, pointing out that Binance only announces listings four hours before they go live. “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?’ You might not like to hear this, but the truth is: exchanges must compete to list popular coins (with trading volume) as early as possible. If your coin is actively sought after by traders, you don’t need to talk to exchanges. As I always say, work on your project, not the exchanges,” CZ explained on X. CZ pointed out that regulatory agencies have aggressively targeted utility tokens, falsely labeling them as securities, and that pressure was what drove developers to meme tokens. Then there’s speculation. CZ said that assets with clear, tangible value are harder to speculate on, while meme tokens thrive on volatility. “Things with clear tangible value are harder to speculate on,” he said. Meme coins, on the other hand, are fun, unpredictable, and highly speculative—exactly what certain traders want. “It’s a cultural thing,” CZ said. While he doesn’t trade meme coins, he admitted they have a place in the crypto market. “Not being into something doesn’t mean I’m against it,” he clarified in the Feb. 11 post. Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet
