Changpeng "CZ" Zhao, the founder of Binance, has publicly criticized the exchange's token listing procedures, highlighting a systemic issue that creates significant market volatility. On February 9, 2026, CZ pointed out that Binance's current practice involves announcing a new token listing and then waiting four hours before the token becomes tradable.
This notice period, CZ argues, is problematic. During those four hours, the token's price often surges on decentralized exchanges (DEXs) as traders anticipate the listing. When the token finally goes live on the centralized exchange (CEX), a sell-off typically occurs as those early buyers take profits, leading to sharp price corrections. CZ suggested that centralized exchanges should adopt a more automatic listing system, similar to DEXs, to mitigate these speculative spikes and provide more stable trading conditions.
The critique was underscored by a real-world example involving the TST token. Following a Binance listing announcement, the TST token's price escalated by approximately 300% during the notice period before stabilizing post-listing. Binance's native token, BNB, also saw a 7% increase amid the discussions. CZ, while no longer involved in Binance's day-to-day operations, emphasized that the current process is "a bit broken" and that changes could lead to less volatility and more equal opportunities for investors.
In a related development on February 10, CZ also pushed back against a wave of misinformation targeting Binance. This followed a false viral claim that Tether CEO Paolo Ardoino had blamed Binance for a market crash that saw Bitcoin drop below $70,000. Ardoino refuted the claim, and CZ urged the community to practice verification, stating that "smart people actually triple check any negative 'news' on Binance." He criticized the use of inflammatory language like "blame," which he said distracts traders from taking personal accountability for their leveraged trading decisions.
