Justin Sun wants to revitalize Huobi and Poloniex with memecoins

by Davis Quinton and Frank Chaparro

People • May 19, 2023, 6:01AM EDT

UPDATED: May 19, 2023, 6:12AM EDT

The Block

Quick Take

In this episode, Justin Sun talks through Huobi’s and Poloniex’s procedures for listing new memecoins, and argues that Binance’s high listing standards offer opportunities for smaller exchanges to grow.

Episode 48 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Tron Founder Justin Sun.

Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

In this episode, Justin Sun reveals Huobi's and Poloniex's procedure for listing new memecoins and explains why the crypto market has grown too big for any single exchange to service effectively.

Sun claims that Binance may be the biggest exchange by market share, but it is not the best venue for trading smaller memecoins:

"Binance these days has a very high standard of listing crypto assets. [A coin] needs to be at least $100 million or even $1 billion to get listed on Binance in the first place. So that's why I think this leaves a very big room for other exchanges to grow."

Justin Sun himself recently announced on Twitter that he would start trading memecoins for "fun."

During this episode, Chaparro and Sun also discuss:

What Justin Sun personally looks for in memecoins
Huobi's and Poloniex's revenue sources
The global crypto regulatory environment

This episode is brought to you by our sponsor CleanSpark.

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].