Binance Only Focused on Memecoin Listings? Co-Founder Yi He Clears the Air

• Binance listed three new tokens on its exchange on Sept. 16.
• Catizen (CATI) will be listed on Binance on Sept. 20, and Hamster Kombat (HMSTR) will go live on Sept. 26.
• Binance co-founder Yi He explains that Binance is currently focusing on Telegram games, meme coins, and low FDV crypto tokens.

Binance has been on a hot streak of listing memecoins.

Today, the exchange added three new tokens to its roster, and two more, Catizen (CATI) and Hamster Kombat (HMSTR), are expected soon.

While these listings are timely and capitalize on the rising hype, they’ve also raised questions about Binance’s new focus on viral crypto tokens.

Binance Meme Coins

On Sept. 16, Binance listed  three new meme coins: Neiro (NEIRO), Turbo (TURBO), and Baby DogeCoin (1MBABYDOGE).

As per the announcement, withdrawals will open on Sept. 17, 2024, at 10:00 UTC.

However, these new meme coins are heavily restricted. The following countries or regions will be unable to trade these new pairs:

“Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine“

In light of the memecoin listing frenzy, some are concerned that Binance is focusing predominantly on meme coins lately.

This certainly makes sense, as memecoins have become the crypto success story of 2024 alongside Bitcoin exchange-traded funds (ETFs).

Binance Co-Founder Yi He Explains

According to a translation of Yi He, posted on the matter, she explains that the exchange has “no intention” to guide the trend toward memecoins.

“The problem is this no hot topic right now,” He expressed.

She explained there are three types of projects now: “Telegram games, all for airdrops; many infrastructures, all high FDV VC coins; Memecoins. Binance found some projects with low FDV and dispersed coin holdings to test.”

Regarding Telegram games, the exchange has already been at the center of controversy amid the Catizen (CATI) airdrop.

After promising players 43% of the supply, the Binance listing cut 9% from players who are now furious the tokens were taken from their allocation instead of the team and its treasury.

Additionally, Binance is set to list the tokens from viral Telegram play-to-airdrop games, Catizen (CATI), on Sept. 20 and Hamster Kombat (HMSTR) on Sept. 26.

It’s likely that the leading exchange will continue to plug the most popular meme coins and Telegram gaming tokens into its listings for the foreseeable future.

Although Yi He’s explanation doesn’t lend itself to clearing up anything, as many would argue, Telegram game coins and meme coins have more in common than differences.

About the Author

Eddie Mitchell

Eddie has been writing news and content primarily for crypto news and industry players over the past seven years. With an eye for the bigger picture, Eddie prefers to investigate the broader implications of a story, as well as explore the weird and wonderful world of crypto. He believes blockchain has already changed the world, but observes the space overall with a skeptical and adoring eye.

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