Binance founder, Changpeng Zhao, calls for more focus on 'real' blockchain projects amidst the frenzy around memecoins.
CZ urges the community to build applications with utility and not to completely end the memecoins craze.
Opinions among crypto investors are split, with some agreeing that memecoins are a distraction, while others argue that memes have unique power and can lead to innovative fundraising and economic applications.
Binance faces criticism for listing memecoins and alleged promotion of pump-and-dump schemes, leading to price jumps and subsequent drops.