Tokens of Deceit: CZ’s Scathing Rebuke to AI Agent Developers
Ha! The cryptocurrency world is a wondrous place, full of innovation and adoption. But, my friends, it’s also a breeding ground for charlatans and scoundrels. And what’s the latest scam? The integration of Artificial Intelligence (AI) in crypto, of course! 🤖
CZ: Focus on product-market fit, not just tokens
CZ, the founder and former CEO of Binance, has spoken out against the trend of AI-related projects that prioritize token launches over developing functional AI agents. Ah, the old “build a token and they will come” trick! 🤑
CZ noted that this trend is increasing because some developers only focus on the financial aspects, and not on creating something truly valuable. He suggested that developers shift their focus from tokens and fundraising to ensuring that AI agents are useful and meet the market’s needs.
“Only launch a token when there is product-market fit,” the Binance founder stated. In other words, don’t launch a token until you have something worth selling! 💸
He warned against launching a token before attempting to prove that the AI agent has real demand or a working business model. And let’s be real, most of these AI agent tokens don’t have a clearly defined utility, which could lead to poor project outcomes. It’s like trying to sell a pig in a poke! 🐖
The former Binance CEO has questioned the need for tokens in most AI projects. In his opinion, most of these AI agent tokens do not have a clearly defined utility, which could lead to poor project outcomes. Ah, the old “tokenomics” scam! 🤑
Debate over AI tokens
CZ’s stance and advice to AI developers to focus on solving real problems instead of rushing to launch speculative tokens resonates with many. It’s like a breath of fresh air in a world filled with hot air! 💨
Reacting to the post, a user named Satoshi Club opined that 95% of AI agents do not require a token. CZ replied that “maybe 99.95%” of such projects do not need a token. Ah, the debate rages on! 🤔
For his part, Cato highlighted the challenge of raising Research and Development funds, leading many to the approach that Changpeng Zhao is critiquing. Cato noted that many investment institutions are primarily about making profits. Ah, the old “follow the money” trick! 💸
Raising money using tokens is a powerful use case for crypto, but they should still focus on building after they raise, not just sell the tokens.
— CZ 🔶 BNB (@cz_binance) April 2, 2025
While CZ acknowledged that raising money using tokens is a “powerful use case for crypto,” he insists that developers must build after raising funds, not just selling tokens. Ah, the wisdom of CZ! 🙏
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2025-04-02 15:48