About TST and Bera-related situations and impacts, as follows:

TST-related situations

• Origin of TST: TST was initially a teaching test token deployed by the Binance Chain team on the four.meme platform, used to demonstrate how to issue Meme coins and not intended for public trading.

• CZ's attitude: Binance founder CZ recently made a statement on social media clarifying that the TST token is unrelated to him, that he did not participate in the TST listing process, and emphasizing that TST is just a test token used in video tutorials.

• TST listing on Binance: Binance will list the TST spot trading pair on February 9, 2025, at 11:00 (UTC) with an added seed label, requiring users to complete a quiz and accept terms to trade.

Bera-related situations

The article only mentions that Bera's launch is at its peak, with a current fully diluted market value (FDV) of only 2.5 billion, raising 140 million in 2024, with a valuation of 1.5 billion. If it falls below 3 USD, due to a one-year lock-up, investors will incur losses, which may lead institutional investors to be hesitant to invest in the future, but no further details are provided.

Overall impact

• Impact on the exchange's reputation: The listing of TST, a test token, has sparked controversy, which may affect Binance's professional image and reputation in the eyes of users and investors, raising doubts about its listing review process.

• Impact on investors: For investors in TST and Bera, the price volatility of TST and the possibility of Bera falling below 3 USD will pose risks of asset loss, undermining investor confidence.

• Impact on the industry: Such events may make the investment environment in the entire cryptocurrency industry more cautious, and institutional investors may become more prudent about investment projects, hindering the financing and development of emerging projects.