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 the team responsible for listings thoroughly reviews information regarding the founders behind the project, its key individuals involved, and its potential plans.
This becomes necessary with the rise in the popularity of memecoins. 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 that these factors “are definitely important.”
Memecoins with real use cases are the priority for Binance
Binance CMO added that memecoins have a lot of negative coverage because of no utility. However, “there are up-and-coming memecoins 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
Conlan believes that the crypto industry will grow significantly in the coming 18 to 24 months. This automatically suggests that projects with real use cases should be preferred.
Building consumer trust is also a priority for Binance
In another interview before the Aus Crypto Con, Conlan remarked that Binance was the “healthiest” it had ever been, adding almost 60 million users since 2024’s start. She also explained how the crypto industry had been heavily affected by low consumer trust, stating that Binance’s goal moving forward is to build “stronger trust”.
She insisted that growing misconceptions and miseducation have primarily contributed to the dwindling trust in crypto products, adding that Binance will prioritize educating more users to debunk any crypto misconceptions that could lower crypto trust.
However, she did argue that consumer trust in Binance was comparatively higher than others in the industry, noting that the platform had earned itself different types of users, including super-sophisticated traders, casual day traders, and even those investing as part of their diversification strategy.
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
