Former Binance CEO Changpeng "CZ" Zhao is urging the crypto community to shift focus from memecoins to developing genuine blockchain applications. CZ expressed his growing disapproval of the memecoin trend, which he feels has become more bizarre than amusing. After stepping down from Binance in November 2023 due to a plea deal, CZ has been advocating for grassroots development in Web3. Despite the enduring hype around memecoins like Dogecoin and Shiba Inu, CZ's call for a pivot towards real decentralized applications has gained support, though Binance faces criticism for listing memecoins lacking clear utility.