Unusual activity was spotted on the personal wallet of Changpeng Zhao (CZ), founder and former CEO of Binance. He sent a large batch of memecoins to be burned on the BNB Chain network. Crypto blogger Crypto小宇 (老炮) was the first to notice this and quickly built an entire theory around these transactions.
However, Zhao himself quickly cooled the observers' enthusiasm by commenting on the situation and explaining that there was a much more mundane reason behind these operations.
What was noticed on the blockchain?
Recently, many memecoins on the BNB Chain network have been transferred to Zhao's personal address. He then sent some of the most notable ones to a burn wallet — a special address from which coins cannot be recovered. 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: It's simpler
Zhao dispelled these speculations, stating that there is no deep meaning behind the transfers. According to him, he hadn't looked at this wallet for a long time. When he opened it, he found too many coins there — tens of thousands. Because of this, the wallet displayed the balance incorrectly.
Zhao explained that he suggested improving the display of the coins and then conducted a check. He decided that sending unwanted coins to his own address made no sense. It's simpler to transfer them directly to the burn address.
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 between Zhao and Crypto小宇 (老炮). 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.
| 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. The $AB coin was supposedly backed by someone personally acquainted with Zhao. At that time, Zhao completely disassociated himself from these projects, stating that he did not own the coins and knew 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.
Expert opinion: This situation is a classic example of how information noise in the crypto community is created out of thin air. Burning spam tokens is a routine technical procedure, not a marketing ploy. Investors should critically evaluate any theories built on single transactions of public figures and not fall for attempts to link well-known names to dubious projects.