Rachel Conlan, Binance’s Chief Marketing Officer (CMO), clarified that listing meme coins on the platform is not guaranteed.
Speaking at the Aus Crypto Con 2024, Conlan explained that while Binance acknowledges the growing popularity of meme coins, the decision to list them involves careful evaluation. She highlighted that community input plays a significant role in determining which projects make it onto the exchange.
Community input influences Binance’s listing decisions
Conlan stressed the importance of community feedback and engagement when selecting projects for Binance. She stated that Binance’s listing team thoroughly assesses a project’s background, including details about its founders, key contributors, and long-term goals. According to her, this approach is essential for identifying legitimate projects and protecting users from suspicious or untrustworthy ventures.
Conlan also emphasized that no specific formula guarantees a project’s approval. Instead, Binance’s secret research team evaluates several factors, such as community trends, insights, and feedback, to determine a project’s viability. While these considerations are critical, she noted that they are only part of a larger decision-making process.
Utility-driven Meme coins take priority
The Binance CMO acknowledged that meme coins often face criticism due to their perceived lack of utility. However, she pointed out that some emerging meme coins incorporate real use cases into their design. Conlan stated that such projects align more closely with Binance’s priorities, as the platform values innovation and functionality.
She suggested that the current bear market has allowed developers to focus on building innovative solutions. According to Conlan, these advancements could drive significant growth in the cryptocurrency industry over the next 18 to 24 months. Projects demonstrating real-world use cases are expected to gain greater attention during this period.
Binance focuses on strengthening consumer trust
In addition to project selection, Conlan highlighted Binance’s ongoing efforts to build stronger consumer trust. In a separate interview, she revealed that Binance had added nearly 60 million new users since the start of 2024, which she described as a sign of the platform’s resilience and growth.
Conlan addressed declining trust in the cryptocurrency industry, citing misinformation and misconceptions as key contributors. She emphasized Binance’s commitment to educating users and promoting transparency to counter these challenges. Despite the general skepticism surrounding crypto, Conlan noted that Binance has maintained relatively high levels of trust compared to its competitors, attracting users with varying levels of expertise, from beginners to advanced traders.
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