Unusual activity was spotted on the personal wallet of Changpeng Zhao (CZ), co-founder and former CEO of Binance. He sent a large batch of memecoins on the BNB Chain to be burned. Crypto blogger Crypto小宇 (老炮) was the first to notice this and built an entire theory around the transfers. However, Zhao himself commented on the situation and explained that a much more mundane reason lies behind these operations.
What Was Noticed on the Blockchain
Recently, numerous memecoins on the BNB Chain have been transferred to Zhao's personal address. Zhao then sent some of the most notable ones to a burn wallet — a special address from which coins cannot be retrieved. From this, the observer drew a beautiful but far-fetched conclusion. According to his version, this gesture means that Zhao is trying to take care of Binance users even after stepping down as CEO. The blogger recalled that over nine years, the exchange grew from zero to nearly 400 million users and linked the token burn to the idea of mutual obligations between Zhao and his audience.
Zhao's Response
Zhao cooled expectations and stated that there is no deep meaning behind the transfers. According to him, he hadn't looked at this wallet in a long time. When he opened it, he found too many coins — tens of thousands. Because of this, the wallet displayed the balance incorrectly. Zhao explained that he suggested improving the coin display and then conducted a check. He decided that sending unwanted coins to his own address made no sense — it's easier to transfer them directly to a burn address. This refers to a special address where coins are sent to permanently remove them from circulation. No one has access to them, so they are considered destroyed.
Mass distribution of spam memecoins to the wallets of well-known industry figures is a common practice to attract attention. This explains where Zhao's tens of thousands of coins came from.
Not the First Exchange with the Same Blogger
This is not the first exchange of remarks between Zhao and Crypto小宇 (老炮). In early July, the same author published a promotional post. In it, he praised the coins $CZ, $TCC, and $AB as leaders of a new memecoin season on the BNB Chain.
| Token | Blogger's Version | Reality from CZ |
| $CZ | Named after the creator | Spam token |
| $TCC | Launched through collaboration with CZ | No connection |
| $AB | Created by a personal acquaintance of Zhao | Author unknown |
Two of them were linked by the author to Zhao's name. He claimed that the new season was launched by the TCC project's collaboration with the businessman. Behind the $AB coin, supposedly, was a person personally acquainted with Zhao. At that time, Zhao completely disassociated himself from these projects. He stated that he does not own the coins and knows nothing about them.
Both cases share a common pattern. The blogger builds a beautiful story around Zhao's name, and then the businessman himself is forced to explain himself to the audience.
Analyst's Comment: This situation is a classic example of how memecoin projects try to hype off the names of major industry figures. For Zhao, this is already the second time in a month that he has had to publicly deny any connection to spam tokens. Investors should be extremely cautious: the absence of official confirmation from a celebrity is a sure sign of a scam or marketing manipulation.