Changpeng Zhao, co-founder and former CEO of Binance, echoed the words of his former colleague Brian Armstrong, CEO of Coinbase, and said the listing process is broken.
Armstrong admitted on X that the listing process isn’t working and must be reformed because there are now 11+ million cryptos on CoinMarketCap.
Armstrong said they need to figure out a new method, but he also said it is not feasible to individually vet each and every single token.
Now, CZ, who’s been enjoying an early retirement after being forced to oust himself as CEO of Binance, said the same thing.
“As an observer, I think the Binance listing process is a bit broken,” CZ said.
“They announce, then list 4 hours later. The notice period is necessary, but in those 4 hours, the token prices go high on DEXes, and then people sell on CEX,” Zhao wrote on X.
The problem, I fear, is that CEXs are interested in listing as many tokens as possible – fees, inflow, etc – and those who create the tokens have the same interest because having your crypto listed on a major CEX obviously helps.
So, to be honest, I wouldn’t be shocked if nothing at all changed.a
bitcoinea 
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