CZ: Binance Eyes Industry Growth, Lists HYPE Token

Changpeng Zhao, the founder of Binance, is not typically one to dwell on competitors. However, in a recent podcast appearance, he made a point of welcoming them, specifically highlighting decentralized exchanges like Hyperliquid as a positive development for the broader cryptocurrency industry. This statement came just two days after Binance listed Hyperliquid’s HYPE token for spot trading.

The listing officially went live on September 24, 2026, introducing HYPE/USDT, HYPE/USDC, and HYPE/TRY trading pairs to Binance’s platform. Deposits were enabled one hour prior to trading, with withdrawals commencing the following day. Notably, Binance charged no BNB listing fees for this addition.

Speaking on September 26, 2026, CZ characterized the rise of decentralized exchanges not as a threat to centralized platforms, but as a sign of the industry’s maturation. He pointed to global crypto ownership rates, estimated to be between 5% and 15% of the population, and emphasized that digital assets still represent less than 1% of the average individual’s net worth allocation.

CZ also remarked that early market leaders do not always secure long-term dominance. He cited Google and Binance itself as examples, noting that neither was the first to market in their respective sectors but both ultimately came to define them.

Hyperliquid operates as a permissionless, on-chain perpetual decentralized exchange (DEX) built on its own Layer-1 blockchain. The HYPE token serves as the network’s native currency, functioning as both a utility asset and a governance mechanism for the protocol.

CZ had previously expressed his approval of Hyperliquid’s model in June 2026, publicly praising the project and acknowledging that regulatory complexities can complicate direct competition between centralized and decentralized exchanges in certain regions. The HYPE token listing now translates that public admiration into a concrete business decision.

The absence of a BNB listing fee is also significant. Binance has historically utilized listing fees as both a revenue stream and a method for filtering projects. Waiving this fee entirely suggests a strong endorsement of HYPE’s position within the industry.

The inclusion of trading pairs in three currencies, including the Turkish Lira, underscores Binance’s ongoing commitment to emerging markets. Offering local currency pairs can reduce barriers for retail traders who may not routinely hold USDT or USDC as their primary assets.

CZ argued that a larger and more competitive crypto market ultimately benefits all participants, including established assets like BNB and Bitcoin, not just new entrants. This move signals Binance’s ambition to be the go-to platform for trading all significant digital assets, even those native to competing ecosystems.

For HYPE, the Binance listing dramatically expands its potential trading audience. Hyperliquid had already established a strong reputation through its perpetuals trading product, which generated substantial volume before the HYPE token itself became available on major centralized exchanges. The Binance listing now provides traders who prefer a unified interface with access to HYPE, eliminating the need for asset bridging or setting up separate wallets.