Binance's new co-CEO has issued a warning regarding current token trends, including meme coins, AI-themed tokens, and short-lived launches that often leverage Binance's popularity for rapid price increases.
This statement was made on X (formerly Twitter) in response to a user's suggestion that Binance's official X account was being managed like a group controlled by "a bunch of KOLs" (Key Opinion Leaders).
While a review of the official Binance X account primarily shows official updates and announcements, the user's comment prompted a defensive response from He Yi, the co-CEO.
He Yi's Response and Clarification
He Yi expressed her disapproval of the user's implication. She stated that the official Binance X account is managed by competent staff who have the autonomy to determine their posting style and the creative freedom to apply it within their work.
However, He Yi drew a clear boundary, prohibiting these employees from participating in the launch or promotion of any tokens.
She acknowledged that the renewed activity in the BNB memecoin space has inspired the community to tokenize words and phrases taken from posts made by the official Binance X account or by herself. She emphasized that these community-driven tokenizations have no direct connection to Binance itself. He Yi also insisted that the increased frequency of such activities does not mean Binance will cease its official posting schedule.
She clarified that her previous remarks about "encouraging employees to innovate and try" pertained solely to their daily work responsibilities and not to "coin issuance projects."
Her statement comes at a time when tokenization has become a significant topic in cryptocurrency discussions, with memecoins forming a prominent part of the market landscape.
Binance Leadership Emphasizes Accountability
This is not the first time He Yi has addressed the current token trends. Previously, she urged users to take responsibility for their own actions and to actively protect themselves from pump-and-dump schemes by conducting thorough research and exercising greater vigilance.
Changpeng Zhao (CZ), the former CEO of Binance, has also issued similar warnings on multiple occasions. As recently as last month, he took action against individuals he accused of selling X accounts that he followed, by unfollowing many of them.
These accounts have reportedly been involved in a wide range of illicit activities.
Zhao advised users on X to refrain from purchasing these accounts, stating that he would "unfollow any sold accounts" and encouraging his followers to report any accounts they observed being offered for sale.
"Let me know," he wrote. "DM, tweet, notify interns," adding that he follows accounts randomly based on them being "supportive, informative, positive energy people in the community."
Despite these warnings, the cryptocurrency space often defies conventional logic and advice. For instance, a single photograph of CZ's dog led to the viral creation of numerous meme tokens named after the dog. CZ's tweet regarding the upcoming launch of BNB Chain's Four.meme token also triggered a frenzy for similarly named meme coins at the time.