Rachel Conlan, CMO of Binance says memecoin listings are not guaranteed. However “community feedback and input” plays an important role in decisions related to which cryptocurrency to list.
In a Cointelegraph interview at Aus Crypto Con 2024, Rachel Conlan said that teams responsible for listing go through a diligent process to go through the information regarding the founders behind the project’s involved people and the plans it potentially holds.
This becomes necessary with the rise in the popularity of meme coins. Crypto exchanges have an increased responsibility to filter out any suspicious projects for the protection of the users.
Moreover, Conlan said there is nothing “guaranteed” about what sets a project apart to be selected for listing on Binance.
On the other hand, she also shared that the “secret research team” considers “a few different factors” like community feedback and input including community trends and insights regarding the project. She added these factors “are definitely important”.
Memecoins with real use cases are the priority for Binance
She added that because of no utility, meme coins have a lot of negative coverage. However “there are up-and-coming meme coins that have that utility built in”. It is the only functional requirement, explained Conlan.
“What we should be talking about more is the innovation that’s going to come out, like the innovation that’s been prepped in this bear cycle. What people are building” – Rachel Conlan, Binance CMO
Conlan believes that the crypto industry will have significant growth in the coming 18 to 24 months. This automatically points towards the requirement to prefer projects with real use cases.
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