Binance has denied allegations that the exchange participated in coordinated campaigns for new memecoins.
This statement follows concerns that the exchange's social media posts were converted into memetokens.
Binance launches internal investigation after memecoins mirror its tweets
An example of this trend is a post from Binance Futures that read, “The year of the yellow fruit and harvest! Plant wisely. Reap abundantly.” A token with exactly the same phrase and image appeared just before the post was published.
The timing raised suspicions that someone at Binance created or supported the token.
After the revelation, the exchange stated that they have initiated an internal review to find out what happened. read more
But Binance co-founder Yi He has also opposed the claims. She said that Binance has no agreements with KOL to spread or support memecoin releases.
She pointed out instead that these token creators copy words from Binance posts and make them into tokens in hopes of riding on social momentum.
"Currently, the community is engaging in behavior that is not related to Binance by issuing coins based on Binance's official Twitter, my statements, or words from posts. But we cannot stop posting just because someone might be looking for angles," she said here.
In light of this, Yi He explained that the company's social media team chooses its own wording and has great freedom regarding how they frame posts.
However, she emphasized that this freedom does not extend to creating tokens.
Hon emphasized that the exchange prohibits employees from issuing or promoting cryptocurrencies.
At the same time, former Binance CEO Changpeng Zhao confirmed the same opinion and wrote on X that the team will continue to post normally.
He added that some words used in corporate announcements should not be interpreted as endorsements for any token.
"Just because people make memecoins out of the words we use, it cannot stop us from using them again. We will tweet as we usually do. All words in our tweets are not endorsements of any memes or tokens," he said here.
The clarification comes as Binance remains the world's largest cryptocurrency exchange by trading volume.
So, any perceived endorsement from the exchange or its leadership can impact the markets. This is why the company is trying to draw clearer lines between its social media posts and the growing memecoin ecosystem.