CZ Breaks Silence on OM Crash, Questions Token Listing Standards

In Brief:

CZ advises users not to chase hype, but to focus on fundamentals.

He says CEXs and DEXs shouldn't control token listings—markets should decide.

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Former Binance CEO Changpeng Zhao (CZ) has weighed in on the OM token flash crash that triggered a 70% plunge in price, offering cautionary advice to crypto traders and addressing criticisms aimed at Binance.

“Don’t chase narratives. Stick to projects with fundamentals, users, revenue, and profits,” CZ posted on X, responding to growing speculation around centralized exchange accountability.

When asked whether Binance performed adequate due diligence before listing OM, CZ clarified that he no longer runs Binance and offered a controversial take: “I actually believe the opposite is true, that CEXs and DEXs should not have listing processes. They should provide access to all global tokens. Traders should decide for themselves what they want to trade.”

His comments challenge the notion of centralized vetting in token listings, calling for open access and greater user discretion in choosing assets.

The statement comes amid broader debate on how exchanges handle liquidity risks and risk management during volatile events—especially following MANTRA’s own statement accusing CEXs of negligence during the OM crash.

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