CZ, the former CEO of the world's largest cryptocurrency exchange Binance, spoke about memecoins. Speaking about the memecoin industry through Donald Trump's own memecoin TRUMP, which has been on the agenda recently, CZ said that memecoins have pros and cons. Emphasizing that investors should decide for themselves whether to invest in memecoins, considering all the pros and cons, CZ explained that he had never bought memecoins before. CZ responded to concerns about memecoins in a post on his X account, acknowledging that they have both benefits and drawbacks. CZ stated that memecoins can introduce new users to the cryptocurrency industry and validate the industry. CZ said that at this point, especially the issuance of memecoins by high-profile names such as the US President validates and supports crypto. But the celebrity also acknowledged concerns about the lack of intrinsic value associated with memecoins and the potential for short-term speculation. CZ emphasized the decentralized nature of cryptocurrencies, stating that individuals have the freedom to choose not to purchase crypto. He explained that as a founder, he does not personally invest in memecoins or NFTs, but respects the choices of others. “Possible pros of memecoins: Crypto is not a zero-sum game. Some of the people who bought TRUMP were probably not in crypto before. So, to some extent, it helped grow the space. Also, the fact that the US President has issued a meme coin also validates crypto. Possible cons to this: No dividends or long-term value. No intrinsic value, etc. (I've heard this about Bitcoin too.) Given these pros and cons, I guess the main point is that in a decentralized world, no one is forcing anyone to buy or not buy memes or any cryptocurrency. You don't have to mess with memecoins if you don't want to. But other people should have their own choices too. “I'm a builder myself. I haven't bought any Memecoins or NFTs. But just because I don't know how to appreciate something doesn't mean I'm against it.” https://twitter.com/cz_binance/status/1882512298352292344 *This is not investment advice. Continue Reading: Binance Former CEO CZ Talks About Memecoins Through TRUMP! Reveals Whether He Bought Memecoins!
