Binance CEO Changpeng Zhao has recently expressed his concerns about the current token listing process on the popular cryptocurrency exchange. In a recent interview, Zhao stated that the current process is flawed and suggested that centralized exchanges (CEXs) should adopt a more automated approach, similar to decentralized exchanges.

Zhao’s comments come at a time when Binance has faced criticism for its token listing process, with some accusing the exchange of favoring certain projects over others. This has led to concerns about transparency and fairness in the industry.

In the interview, Zhao acknowledged the flaws in the current process and stated that it is not perfect. He also mentioned that the exchange receives a large number of listing requests, making it difficult to manually review each project. This has led to delays and confusion for both the exchange and the projects seeking to be listed.

To address these issues, Zhao suggested that CEXs should adopt a more automated approach, similar to decentralized exchanges. This would involve setting clear and objective criteria for listing, such as market capitalization and trading volume, and using algorithms to automatically list tokens that meet these criteria. This would not only streamline the process but also eliminate any potential bias or favoritism.

Zhao also emphasized the importance of transparency in the listing process, stating that it is crucial for building trust with users and the wider cryptocurrency community. He suggested that exchanges should publicly disclose the criteria and process for listing tokens, as well as the reasons for rejecting certain projects.

In conclusion, Zhao’s comments highlight the need for improvement in the token listing process on centralized exchanges. By adopting a more automated and transparent approach, exchanges can ensure fairness and efficiency in the listing process, ultimately benefiting both the exchange and the projects seeking to be listed.