Binance has denied claims that the exchange was involved in coordinated marketing of new meme coins.
The comments come after increasing concerns that the exchange's social media posts were converted into meme tokens.
Binance initiates internal review after meme coins mirror their tweets
An example of such a trend is a tweet from a Binance Futures post that read: “The year of the yellow fruit and harvest! Plant wisely. Harvest abundantly.” An on-chain token with the exact phrase and image appeared shortly before the post was made.
The timing fueled suspicions that someone inside Binance created or supported the token.
After the revelation, the exchange stated that it has initiated an internal review to find out what happened.
However, Binance co-founder Yi He has also denied the allegations. She stated that Binance has no agreements with KOLs to launch or endorse memecoin issuances.
She pointed out instead that these token creators are copying words from Binance posts and turning them into tokens in hopes of capitalizing on social momentum.
“Currently, the community is engaging in community behavior that is not related to Binance by issuing coins based on Binance’s official Twitter, my statements, or words extracted from posts. But we cannot stop publishing just because someone might look for angles,” she said.
With this in mind, Yi He explained that the company's social media team chooses its own wording and has broad freedom in how they craft posts.
Nevertheless, she emphasized that this freedom does not extend to creating tokens.
However, she emphasized that the exchange prohibits employees from issuing or promoting cryptocurrencies.
In the meantime, former Binance CEO Changpeng Zhao reiterated this view, writing on X that the team would continue to post as usual.
He added that words used in intangible messages should not be interpreted as endorsements for any tokens.
“Just because people are making meme coins from the words we use, it cannot stop us from using them again. We will tweet as we normally do. The words in our tweets are not endorsements of any memes or tokens,” he said.
The clarification comes as Binance remains the world's largest cryptocurrency exchange by trading volume.
Thus, any perceived endorsement from the exchange or its management could influence the markets. This is why the company is attempting to draw clearer lines between its social media posts and the growing meme coin ecosystem.