Binance founder Changpeng Zhao has expressed concerns about the increasing hype around memecoins and has encouraged the development of utility-driven tokens instead. On November 26, Zhao acknowledged the popularity of memes but expressed unease with their current direction, calling them “a little weird.” He argued that most memecoins lack real-world value and rely on hype and social media trends to attract investors.
Instead, he urged developers to focus on creating blockchain applications with tangible utility rather than following short-lived trends. Despite Zhao’s appeal, the crypto community remains divided on the issue, with some supporting his call for utility-driven innovation and others defending memecoins as a unique aspect of the crypto ecosystem that could enable retail adoption.
Zhao’s comments were influenced by the rising controversies linked to memecoin launches, particularly the backlash against the Solana-based memecoin deployer Pump.fun, which has been used to share harmful content, including threats tied to token price targets.
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