Changpeng Zhao (CZ)

The founder and CEO of Binance, Changpeng Zhao (CZ), has commented on the growing critique of meme coins, emphasising the need for cryptocurrency projects to prioritise utility over speculation. As highlighted by crypto.news, Zhao’s recent statements reflect an increasing demand within the crypto community for projects that provide tangible value and long-term sustainability.

Meme coins, such as Dogecoin and Shiba Inu, have historically relied on viral marketing, community-driven enthusiasm, and celebrity endorsements to gain traction. However, Zhao expressed concerns that these projects often lack substantive utility, which poses a challenge to their relevance in an increasingly mature cryptocurrency market.

Zhao believes that “for a project to thrive, it must solve real-world problems or offer meaningful use cases, rather than merely generating speculative hype”.

This sentiment comes as the crypto industry evolves toward utility-driven innovations. Decentralised finance (DeFi), blockchain-based gaming, and tokenised assets are capturing investor attention, highlighting a broader market shift away from speculative assets. Zhao’s critique underscores the importance of this transition, urging projects to align with this trajectory if they hope to maintain relevance in the long term.

As crypto.news points out, the limitations of meme coins are increasingly evident. While they have succeeded in attracting retail investors and generating short-term profit, their lack of practical applications has led to growing scepticism among more participants in the crypto space. This scepticism is compounded by the volatility and unpredictability that often characterise these assets, further detracting the public from their appeal.

Zhao’s comments also serve as a call to action for the broader cryptocurrency community. By emphasising utility, developers and entrepreneurs are encouraged to create products and services that address real-world challenges and contribute to the growth of the blockchain ecosystem. This shift could also foster greater regulatory acceptance and mainstream adoption, as utility-focused projects are more likely to align with institutional expectations and societal needs.

As Zhao articulated, “the path forward for cryptocurrency lies in delivering tangible value”. Projects that focus on innovation and solving practical problems will likely shape the future of the industry, while those reliant solely on hype may struggle to sustain their relevance in an increasingly competitive and utility-driven market.