CZ: Meme coins fed by speculation, but Blockchain’s foundations are maintained

The former CEO of Binance, Changpeng Zhao (CZ), has opened about his recent incursion into meme coins, a space that prevented.

He also reflected on his lost opportunity with Ethereum and explained why Blockchain’s foundations have remained the same despite changing trends.

A changing perspective of meme coins

In an exclusive interview With Foresight News, Crypto’s former executive explained that he has assumed a more active role in social networks, especially when it comes to meme coins. Unlike the previous market cycles, where the trend was distanced, CZ is now involved with the community to understand its appeal.

Previously, he described such tokens as “extremely strange and desperate”, urging builders to concentrate on more useful applications. However, his change became evident when he allowed the community to create images based on images that shared his pet dog. Interestingly, although they ask for it, he has never supported any of the meme coins as the officer, claiming that such movement would alienate others.

“There are enough users of the meme coins involved, and choosing a definitely damage the feelings of other users,” Zhao said.

The Binance co -founder compared the market driven today with the previous phases of Crypto, remembering how, in the first days of Bitcoin, launching a new chain meant “writing 20,000 lines of code.” However, the launch of the ERC-20 standard allowed anyone to create tokens with an intelligent contract and only required a website and a technical document. Now, it is even simpler since only an image of meme is enough.

Despite these changes, CZ insisted that the central principles have remained the same:

“The main logic is that while someone recognizes a certain concept to issue coins and someone participates, it will have a price, and if no one participates, there will be no price,” he said.

He believes that Memes currencies have prospered due to frustration with traditional venture capital models and retail investors who pursue profits that change life. In addition, these assets have escaped from regulatory scrutiny, since they have no “practical use”, a somewhat ironic escape that feeds their increase.

Lost opportunities and mentality after prison

In the interview, CZ also revealed that he never put money in Ethereum, although he had met his co -founder, Vitalik Buterin, since 2013. “I never invested,” said the 48 -year -old player, denouncing the lost opportunity after Eth went up “thousands of times.”

In a more personal note, Zhao reflected on his four -month prison mandate after being guilty of violations against money laundering. “It was a very bad experience,” he admitted, although he emphasized that the test was not physically brutal. For him, uncertainty was the most challenging part, and the episode remodeled his priorities. He says he now puts his health and relationship first.