KOL @Aunt_ww on X, a Chinese social media platform with 21,000 followers, criticized the cryptocurrency exchange Binance on the 21st, accusing it of violating the fair spirit of cryptocurrencies. The rapid listing of high-priced VC project coins by Binance has diluted market liquidity, with retail investors ultimately becoming the bag holders of these VC coins. In response, Binance’s co-founder He Yi explained that even if Binance does not list these VC coins, funds will still flow to meme coins, token funds, ETFs, etc.
Many community users resonated with this view and commented not to buy the VC coins listed on Binance, as institutions are the ones benefiting. However, He Yi argued that Binance is not the main cause of the current market price dissatisfaction, as many VCs are also failing. He also acknowledged that the high prices of some tokens are indeed due to their VC background, but many VCs are facing bankruptcy due to the long unlocking time of tokens, resulting in lower profits than their initial investment.
Regarding He Yi’s explanation, some community members do not agree and believe that this is not a reason for Binance to continue listing high market value VC coins. Instead, they hope Binance can support more mid-to-small market value projects to activate potential protocols, bringing hope and confidence to the market. User @AmyWang2010 pointed out:
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