Changpeng Zhao, the founder and former CEO of Binance, the world’s largest crypto exchange, has decided to donate tokens he received from anonymous market participants to victims of the Test (TST) and Broccoli meme coin projects. While Zhao is assisting those affected by TST and Broccoli, he emphasized that this should not be seen as endorsing any of the tokens.
### What Led to CZ’s Donations?
On February 15, a pseudonymous Chinese university student named EnHeng announced that he would donate $50,000 in Binance Coin (BNB) to users who suffered losses after investing in the Libra (LIBRA) meme coin. The token, associated with Argentine President Javier Milei, has lost roughly 90% of its value after insiders drained the project’s liquidity. EnHeng, being a university student himself, related to the impact of the rug pull on students and encouraged other crypto traders to contribute to the Binance Smart Chain (BSC) address he provided, with a focus on aiding college students.
In response to EnHeng’s post, CZ donated 150 BNB, worth approximately $100,000, and encouraged the crypto user to continue their efforts. To verify his contribution, CZ shared a BscScan link with the transaction details on February 18.
### CZ Receives More BNB and Crypto Tokens
Within 24 hours of tweeting about the transaction, CZ revealed he had received more BNB than he initially donated, along with additional funds in other tokens. At the time, the wallet held 161 BNB, and later data from BscScan showed it held at least 369 BNB, worth approximately $243,000. In total, the wallet contains over 100 tokens valued at over $543,000, including Wrapped BNB (WBNB), Cat (CAT), Chengpang Zhoa (ZHOA), CZ’S DOG (Broccoli), Build on BNB (BOB), Binance-Peg BTCB Token (BTCB), and Trust Wallet (TWT). Additionally, there were over 25 pending transactions, indicating more users were sending tokens. CZ remarked, “Funny things in crypto. When you try to make quick money, you often lose. When you give money away, you get more back…I won’t be keeping a satoshi of it.”
There are many Broccoli meme coins on the market, inspired by CZ’s dog, most of which have lost their value after developers withdrew liquidity. Similarly, TST is down 85% from its all-time high ten days ago.
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