Former Binance CEO Changpeng Zhao (CZ) has recently delved into meme coins, an area he once steered clear of. He also reflected on his missed investment in Ethereum and explained that the fundamentals of blockchain have remained consistent despite changing trends.
### A Changing Perspective on Meme Coins
In an exclusive interview with Foresight News, CZ discussed his increasing involvement on social media, particularly regarding meme coins. While he previously distanced himself from these tokens, CZ now engages with the community to understand their appeal. In the past, he described them as “extremely weird and desperate,” advising creators to focus on more practical applications. However, his change in attitude was evident when he allowed the community to create meme coins inspired by pictures of his dog. Despite requests, he has never endorsed any specific meme coin as official, believing that choosing one would alienate others.
Zhao compared today’s meme-driven market to the early days of crypto, noting how launching a new chain once required significant coding effort. The introduction of the ERC-20 standard simplified token creation through smart contracts, reducing the requirements to just a website and a whitepaper. Now, even a meme image can suffice. Despite these changes, CZ emphasized that the foundational principles remain unchanged:
“The core logic is that as long as 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 stated.
He attributes the success of meme coins to discontent with traditional venture capital models and the desire of retail investors for substantial gains. Moreover, these assets have managed to avoid regulatory scrutiny due to their lack of practical use, ironically contributing to their rise.
### Missed Opportunities and Post-Prison Mindset
CZ also shared that he never invested in Ethereum, despite knowing its co-founder, Vitalik Buterin, since 2013, lamenting the missed opportunity as ETH increased dramatically in value.
Reflecting on his four-month prison sentence for anti-money laundering violations, Zhao described it as a difficult experience, though not physically harsh. The uncertainty was the hardest part, prompting him to reevaluate his priorities, with a focus now on health and relationships.
On Twitter, CZ engages with the crypto community and shares insights into his evolving views on the industry.
