The recent widespread popularity of BNB’s meme culture was ascribed by CZ to an unscheduled social media update commemorating the Mid-Autumn Festival, and his strategic outlook on investment was detailed, which favors perpetual decentralized exchanges that prioritize data anonymity over open-ledger counterparts.
The inadvertent proliferation of Chinese memecoins on the BNB Chain was elaborated upon by Changpeng Zhao (CZ), and the rationale for Aster’s concealed transaction mechanisms offering a fundamental superiority over Hyperliquid was clarified.
During the discussion conducted with CounterParty TV on October 10, the former Binance chief executive officer assigned the sharp increase in BNB’s meme popularity to an unexpected online announcement commemorating the Mid-Autumn Festival, and his strategic perspective on capital allocation was delineated, which shows preference for decentralized exchanges that manage ongoing contracts with an emphasis on data secrecy over platforms utilizing open transactional records.
The sudden rise in BNB Chain’s Chinese stock symbol commenced when Zhao disseminated the message “Joyful Mid-Autumn Festival, share your finest digital images” during the culturally significant observance.
A reply was provided by the collective with material themed around the moon and stock symbols in the Chinese vernacular, among which Zhao Chang’e was included, a linguistic manipulation of Zhao’s personal designation that made reference to a feminine celestial being from Chinese cultural folklore.
“It wasn’t planned. It just slowly evolved into that. Everything I tweet, they turn into a meme. At some point I said, screw that. I’m just going to tweet freely.”
He stated:
Market valuations ranging from $100 million to $500 million have been attained by five digital tokens originating from the BNB Chain that are centered on internet culture in the course of recent weeks, drawing in financial participants from the Solana ecosystem. Zhao described BNB exchange participants as being more concentrated on asset retention due to the platform’s emphasis on practical application, in stark opposition to the more rapidly evolving digital culture associated with Solana.
“They tend to be more holders. They don’t go up and down the next day.”
Zhao said:
BNB vs. Solana: Openness Meets Exclusivity
A refutation was offered by Zhao regarding the view that BNB functions as a self-contained operational system from initial coin offering to final inclusion on the Binance exchange, contending that the platform’s environment is maintained as more accessible than the underlying architecture of Solana.
“Binance lists tokens from every blockchain, even meme coins from every blockchain. Trust Wallet supports BNB Chain, Solana, and many other blockchains. Phantom doesn’t support BNB Chain. Radium only operates on Solana. Their ecosystems are actually much more exclusive than ours.”
He said:
The primary concentration of Solana on digital culture tokens was clarified by Zhao as having partially originated from legal actions initiated by the SEC against functional utility digital assets during the administrative term of the previous President, Joe Biden.
Digital ventures introducing assets with tangible functionalities encountered regulatory breaches related to financial instruments, a situation that propelled developers toward internet-culture digital tokens which are asserted to possess no practical purpose.
“If you launch a real project with a utility token, you’re going to get a lawsuit from SEC. Meme coins, we just declared there’s no value, there’s no utilities, just for fun.”
Aster’s Privacy Advantage Over Hyperliquid
Zhao’s capital commitment to Aster is a result of two decades of commercial exchange involvement, demonstrating that transactional confidentiality is essential for expert financial market participants. The assertion was made by him that Hyperliquid’s readily visible, on-chain registry of buy and sell intentions introduces a critical vulnerability that Wall Street entities are unable to tolerate.
“Every single trader on Wall Street I talked to do not want other people to see their orders in real time. “If you know exactly how another person is going to trade, there’s always one way to trade against them for them to lose money.”
According to Binance’s former CEO:
A digital communication concerning the confidentiality concern was published by Zhao in June, an action that instigated 30 proposals for new ventures on that day. Concealed transaction instructions were put into effect by Aster, leading to a capital commitment being made by Binance Labs in conjunction with other decentralized exchange projects focused on data secrecy.
Vulnerability to individuals capable of deciphering their transaction algorithms and capitalizing on them is created for financial market participants by the lack of data confidentiality. It was recognized by Zhao that Hyperliquid possesses the capacity to incorporate features enhancing data secrecy, but it was pointed out that digital exchanges engage in rivalry across a multitude of factors extending beyond isolated functions.
In addition to the requirement for data secrecy, the emphasis was placed by Zhao upon the significance of how a financial exchange safeguards its clientele and manages operational errors.
A forecast was ultimately made by Zhao that decentralized exchanges dealing in perpetual futures (DEXs) will achieve transactional levels comparable to centralized exchange volumes within the duration of a single market cycle. New participants are initially drawn to and educated through centralized platforms that feature intuitive user interfaces, and subsequently, a migration is undertaken by them toward DEXs for the sake of a more expansive array of options and earlier availability to digital assets.
“In 20, 30, 50 years out, everything will be on-chain. But in the interim, if there’s a big rush of traditional users, CEX will get better. Afterwards it will slowly slip into DEXes.”
According to his timeframe:
