CZ Says He Holds No BSC Meme Coins Tied to His Name, Knows Little About Them
Summary
- CZ said he neither holds nor knows much about the CZ-themed meme coins that have recently surged on the BSC chain.
- CZ said he does not hold those tokens and had only interacted with users who were actively participating in the community.
- Meme coins can post sharp price gains in a short period, but they are often highly volatile because many lack fundamental value or liquidity.
Forecast Trend Report by Period
Changpeng Zhao, Binance's former chief executive officer, said he neither owns nor knows much about the "CZ-themed" meme coins that have recently surged on the BSC chain.
Writing on X on July 6, Zhao said he has no direct investment ties to the tokens even as multiple meme coins linked to him have jumped on BSC. The comments indicate he is staying at arm's length from the community-driven rivalry among such coins while watching developments from the sidelines.
BSC is a blockchain network used in the Binance ecosystem. Its low fees and fast transaction speeds have made it a frequent venue for issuing and trading meme coins.
Zhao said he does not hold the tokens and is not familiar with them in detail. He added that he had only interacted with users who were actively participating in the community.
"May the best meme win," Zhao wrote.
Meme coins are cryptocurrencies built around internet trends, public figures or community sentiment. Prices can surge quickly, but they are often highly volatile because many lack fundamental value or liquidity.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.