In the crypto community, excitement has once again arisen around activity on Changpeng Zhao's (CZ) personal wallet. Attentive observers noted that the co-founder and former CEO of Binance sent a large batch of memecoins for burning on the BNB Chain network. The first to point out this unusual activity was the well-known crypto blogger Crypto小宇 (老炮), who quickly constructed an entire theory around these transactions.
However, as one would expect from an experienced professional, Zhao himself promptly commented on the situation, and his explanation turned out to be far more prosaic than outside analysts had assumed.
What exactly happened on the blockchain?
Recently, numerous different memecoins were transferred to CZ's personal address. Zhao then sent the most notable ones to a special burn wallet — an address from which the coins can no longer be returned to circulation. Blogger Crypto小宇 interpreted this gesture as symbolic care for Binance users even after stepping down as CEO, linking the burning to the idea of mutual obligations between Zhao and his audience. However, reality turned out to be much simpler.
Direct explanation from CZ
Changpeng Zhao himself stated that there is no deep meaning behind these transfers. According to him, he hadn't looked at this wallet for a long time. When he opened it, he discovered tens of thousands of coins — so many that it even distorted the correct display of the balance. Zhao explained that he initially planned to refine the coin display, but during the review, he concluded that sending unnecessary tokens to his own address was pointless. It is much simpler to transfer them directly to a burn address — a special wallet to which no one has access, effectively destroying the coins.
Mass distribution of spam memecoins to the wallets of well-known industry figures is a common practice for attracting attention. This is exactly what explains how CZ accumulated tens of thousands of coins.
Not the first conversation with the same blogger
This is not the first time Crypto小宇 (老炮) has tried to link Zhao's activity to his theories. In early July, the same author published a promotional post praising the coins $CZ, $TCC, and $AB as leaders of the new memecoin season on the BNB Chain network. Two of them he directly tied to Zhao's name, claiming that $TCC was launched thanks to collaboration with CZ, and that $AB was supposedly backed by a person personally acquainted with the businessman. At that time, Zhao completely disassociated himself from these projects, stating that he did not own these coins and knew nothing about them.
Both cases share a common pattern: the blogger constructs a compelling story around CZ's name, and then the businessman himself is forced to explain himself to the audience. This is a classic example of how the desire to create a sensation out of nothing leads to the opposite effect.
Expert opinion: The situation clearly demonstrates how important it is in the crypto industry to verify facts before drawing far-reaching conclusions. Attempts to attribute hidden motives to well-known figures based on routine transactions are a direct path to spreading misinformation. CZ has once again shown that he prefers transparency and simplicity rather than creating complex narratives around his actions.