- CZ is seeking community input on allocating over $1 million in BNB donations to support victims of recent meme coin crashes.
- The meme coin frenzy took off after the founder posted a picture of his dog on X and when he shared a video about BNB Chain last week, which happened to feature the TST token.
Binance founder Changpeng Zhao (CZ) is engaging the community on how to allocate over $1 million in BNB tokens donated to assist victims of recent meme coin crashes, specifically those involving Test (TST) and BROCCOLI tokens. Inspired by a university student’s initiative to support victims of the Libra project scam, CZ personally contributed $100,000 (approximately 150 BNB) to this fund.
In a post on X, CZ confirmed that the donation wallet had surpassed the $1 million mark, reaffirming his commitment to transparency and community involvement in deciding how to distribute the funds. He outlined several potential approaches, including charitable donations, where funds could be allocated to a crypto-enabled non-profit organization that ensures transparent tracking to the end beneficiaries.
Another option is a token burn, which would permanently remove the donated tokens from circulation, potentially increasing the value of the remaining tokens. Lastly, CZ is considering deploying the funds into a liquidity pool, a method that is considered promising due to positive results from initial experiments.
While some community members have suggested directly airdropping the funds to affected individuals, CZ raised concerns about verifying claims and ensuring fair distribution. He currently leans toward a hybrid approach, combining charitable donations with liquidity pool deployment to maximize the positive impact on the community.
Here’s How the Meme Coin Frenzy Started
The meme coin craze began after CZ posted a picture of his pet dog on X, where he stated:
I am just posting my dog’s picture and name. I am NOT issuing a meme coin myself. It’s up to the community to do that (or not). I will likely interact with a few of the more popular meme coins on BNB Chain (BSC).
As expected, the crypto community quickly capitalized on the moment, launching hundreds of meme coins, including Broccoli. The token surged to a high of $0.42 within the first hour of launch but has since dropped significantly, now trading at $0.0588.
Adding to the frenzy, CZ shared an educational video about the BNB Chain last week, using a Test (TST) token as an example to demonstrate how to launch a token on the Four.Meme platform. This inadvertently led to the creation of the TST meme coin, which experienced a surge in trading activity. The token reached an all-time high of $0.02284 on February 10, 2025, before plummeting 64.81% to its current price of $0.008036.
In response to the coin gaining traction, CZ addressed the situation in a tweet, stating,
The team member deleted the video upon learning about it. But the internet does not forget. I recommended they put the video tutorial back. It is what it is. This is NOT an endorsement from me for the token.
CZ warns industry figures with influential profiles to be cautious when discussing tokens, stressing that tokenomics is key to a project’s long-term value. His statement reminds investors and influencers of the risks tied to speculative meme coins.
