Changpeng Zhao, the co-founder and former CEO of Binance, has accepted that the cryptocurrency exchange’s token listing process is flawed and has called for improvements in how centralised exchanges (CEXs) handle new listings.
Here are the latest developments from the world of crypto over the past few days
Changpeng Zhao, the co-founder and former CEO of Binance, has accepted that the cryptocurrency exchange’s token listing process is flawed and has called for improvements in how centralised exchanges (CEXs) handle new listings.
Cryptocurrencies listed on major CEXs like Binance, Coinbase, or Kraken often see high demand, as these platforms provide substantial liquidity that can boost a token’s price after listing.
However, Zhao believes the process is flawed, mainly due to the short time between announcement and listing. “As an observer, I think the Binance listing process is a bit broken. They announce, then list four hours later. The notice period is necessary, but in those four hours, the token prices go high on DEXes, and then people sell on CEX,” Zhao wrote in a post on X (formerly Twitter) on February 9, 2025.
Decentralized exchanges (DEXs) are often used by experienced traders to identify emerging cryptocurrencies before they are listed on a CEX. Many traders take advantage of a CEX listing announcement as a short-term buy signal, purchasing tokens on DEXs and selling them once the listing goes live, leading to selling pressure.
Zhao’s comments came shortly after Binance listed the Test (TST) token, which investors turned into a meme token despite its original purpose as a tutorial asset for the BNB Chain.
South Korean lawmaker Kim Nam-kuk has been acquitted of charges related to concealing cryptocurrency holdings, with a court ruling that he was not legally required to disclose virtual assets at the time.
On February 10, 2025, Chosun Daily reported that Judge Jeong Woo-Yong of the 9th Criminal Division at the Southern Seoul District Court found Kim not guilty of obstructing public duty by deceit.
Kim was accused of liquidating crypto assets and failing to report approximately $4.5 million in profit before South Korea implemented the Financial Action Task Force’s (FATF) “Travel Rule,” which mandates the disclosure of crypto holdings.
Amid the controversy, Kim resigned from the Democratic Party, stating that he wanted to spare party members the burden of his legal battle.
Austin University is set to launch a Bitcoin investment fund, showcasing the growing Bitcoin adoption among United States institutions. The university is going to raise a Bitcoin fund worth over $5 million, as part of the institution’s $200 million endowment fund.
According to a February 9, 2025 report, Chun Lai, the foundation’s chief investment officer, told FT,
“We don’t want to be left behind when their [cryptocurrency’s] potential materialises dramatically.”
The news of the fund comes over three months after a regulatory filing revealed that Emory University accumulated over $15 million worth of Bitcoin through Grayscale’s spot Bitcoin exchange-traded fund (ETF), according to Cointelegraph.