Changpeng Zhao says Binance’s token listing process is flawed and suggests CEXs should automate listings like decentralized exchanges.
Changpeng Zhao, co-founder and former CEO of Binance, said the cryptocurrency exchange’s token listing process is flawed, calling for improvements to how centralized exchanges (CEXs) handle new listings.
Cryptocurrencies that manage to get listed on CEXs, such as Binance, Coinbase or Kraken, are in high demand by investors since CEXs provide significant new liquidity that can boost the coin’s price performance after listing.
However, Zhao said the process is broken, mainly due to the short time frame between announcement and listing.
Read more,# Summary of Changpeng Zhao’s Remarks on Binance’s Token Listing Process
## Key Points:
– **Centralized Exchanges’ Listing Flaws:** Changpeng Zhao, the co-founder and former CEO of Binance, criticized centralized exchanges for their flawed token listing processes.
– **Demand for Listed Tokens:** Tokens listed on centralized exchanges like Binance, Coinbase, and Kraken see high demand due to the increased liquidity and potential price boost.
– **Issues Highlighted:** Zhao pointed out that the primary issue is the limited timeframe between a token’s announcement and its listing, which can lead to various operational challenges.
– **Call for Automation:** Zhao suggests that centralized exchanges should consider automating their listing processes to align more with how decentralized exchanges operate.
## Hot Take:
Oh, the irony! The former big boss of Binance, Changpeng Zhao, biting the hand that fed him by calling out the very platform he helped elevate. Sounds like a bit of a lovers’ quarrel in crypto paradise! Zhao’s push for automation could either be a game-changer or just another way for things to get more chaotic in the wild west of crypto land. Will the centralized powerhouses listen, or will they swipe left on Zhao’s suggestions? Only time will tell! 🤖💔📈
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#CryptoNews #Binance #ChangpengZhao #TokenListing #Blockchain #DecentralizedExchanges #AutomationInCrypto
