Binance Investment in Meme token

[bitterguy28]

Binance is always trying to do some crazy works and investing in the projects which posses some value. In previous they invested in many AI, Gaming,Web3 and Data based projects but today when I read announcement that they are investing in Meme token, I surprised because Meme token website clearly stated that they have no roadmap and token has no usecase. This decision is apparently looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Read full announcement:
https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-meme-the-native-token-of-memeland-from-the-creators-of-9gag-1370020903256087146

What is yours opinion about binance venture this step? will it will bring any positive result in future?

they only cares for what can generate them income so if they findMeme coins to be profitable then for sure they will take that opportunity and knowing how great and big exchange binance is?
sometimes this will make us have belief that if they can do this then they can also manipulate a project?

[Aanuoluwatofunmi]

looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Many people no longer trade on binance because it is a centralized exchange that does not care about anything else but profits, I have long since not participated in all sorts of giveaways with the retention of bnb token and even no longer trade with them, personally I stopped liking this exchange.

Binance is finding every means of making profit, and want to mess up with their reputation by creating their own meme token which we know that most of this meme tokens were created to scam people. I wonder will happen if their meme token crashes, how will customers reacts towards this, because many investors will want to invest in such project based on their trust on Binance.

If the can have their own coin which is BNB then i see nothing bad in them making decision to create their own token, other exchanges too could have been on this same thing, i want to believe that binance exchange have realized the level of global recognition they have achieved already and wouldn't want to make any silly mistake or funny thing in creating what will low down their reputation to their users and the world entirely.

[MrSpasybo]

If the can have their own coin which is BNB then i see nothing bad in them making decision to create their own token, other exchanges too could have been on this same thing, i want to believe that binance exchange have realized the level of global recognition they have achieved already and wouldn't want to make any silly mistake or funny thing in creating what will low down their reputation to their users and the world entirely.

Yeah, Binance Labs focuses only on investment profits, while also supporting the development of promising new projects to promote the overall development of the market. Labs invests in MEME because they think it can actually generate profits for them. The MEME token has also been listed on Binance and has a trading volume of around $9M/day, which means it can bring Binance transaction fees of 0.1% ~ $9K/day, contributing to the future buyback and burning of BNB.

Memecoins have also become a culture of the crypto market: Avalanche & Arbitrum Foundations have both invested heavily in memecoins because they can drive ecosystem growth. We should also be more open-minded about this decision by Binance Labs.

• Coinmarketcap: MEME