Binance Founder Zhao Calls Meme Coins “Weird,” Faces Backlash

Zhao’s Remarks Come as Binance Introduces Features for Memecoins

Binance Founder Recommends Building Real-World Applications

Binance founder Changpeng ‘CZ’ Zhao shared his views about the ongoing memecoin ecosystem, calling it “weird.” He recommends the usage ofblockchain technology for building real-world applications.

As follows, top memecoins like DOGE, PEPE, BONK and SHIB corrected 9-10%.

Currently, memecoins are highly popular among crypto enthusiasts and are picking up significantly these days. One popular meme coin that gained much popularity is the Chill Guy meme coin.  

Zhao’s Concern

The Binance founder says, he’s not against the meme culture, however, he’d prefer the crypto community to apply and focus on more sustainable and practical applications.

This is the same time when the memecoin sector is thriving from the use of more trend-driven assets like PNUT and GOAT. Meme coins are known to have given heavy returns.

There are several top crypto handles that agreed by calling the trend turning weird and desperate from being fun in the beginning.

Faces Backlash Too

Zhao has given such opinion after Binance itself introduced features for a couple of meme coins, namely CHEEMS and WHY. Now that the prices of both tokens declined sharply, Zhao also faced criticism for his remarks.

The way the meme culture is growing in the crypto industry, it is definitely proving a game-changer for the traders. However, there are many instances where individuals have shared their views about the growing weirdness as meme coins go on increasing in numbers and types.