DeutschOnce again, the world of meme coins is causing chaos – and Binance founder Changpeng Zhao, better known as CZ, is right in the middle of it. While the rates on the BNB Chain are crashing one after the other, some coins losing up to 95 percent of their value in just 24 hours, investors are looking for someone to blame. But CZ himself waves it off in a statement: “I didn’t do anything. I was busy all day.”
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The sharp drops mainly affected those tokens that had been able to record spectacular gains just days before. On the decentralized exchange PancakeSwap, which is considered the heart of the BNB Chain, overnight, soaring prices turned into total crashes. Meme projects such as «4», «PAUL» or «Binance Life» rose by hundreds to thousands of percent within a few days – before they dissolved into thin air.
CZ Responds to Memecoin Crash: “Didn’t Do Anything”
As so often in the crypto scene, a spark was enough to ignite panic. According to CZ, the crash began with a fake report claiming that Binance Alpha would no longer list certain coins in the future. Although the message was quickly exposed as misinformation, it had already taken effect. “That’s the power of fake news,” Zhao commented on X (formerly Twitter). “If enough people fall for it, it has enormous impact.”
Zhao, who according to his own statements was in meetings in Bahrain at the time, reacted angrily to the insinuations that he had something to do with the slump. “I was in personal conversations all day, even on stage. I don’t know exactly what happened – but I certainly wasn’t involved.”
His message to the community was clear: “People attribute too much influence to me – in good times and in bad.” Instead of relying on his tweets or supposed signals, according to CZ, investors should focus on taking responsibility. He particularly emphasized the use of decentralized wallets, where users keep the keys in their own hands: “Manage your risk properly – and develop yourself further.”
Changpeng Zhao Comes under Fire in the Crypto Firing Line
Ironically, an earlier post by the Binance founder had fueled the meme euphoria in the first place. With the joking sentence “BNB meme season!” CZ caused a stir in the crypto community. Memecoins related to his statements shot up – above all the coin «4», which at times gained over 500 percent. Some imitator projects even recorded gains of several thousand percent before the inevitable end came.
According to media reports, one investor is said to have had particularly bad luck: he sold his tokens for $23,000 – just one hour before their value would have temporarily risen to around $10 million. Such extreme price fluctuations have long been commonplace in the meme world.
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But the recent crash shows how thin the air has become in this corner of the crypto market. A wave of speculation, driven by social media, can tip in seconds – and put even industry giants like CZ in the firing line. Zhao’s conclusion sounds sober, almost resigned: “I constantly see headlines like ‘Binance sells Bitcoin’. In reality, it is the users who are trading – not us.” His warning to meme hunters therefore remains relevant: less hype, more caution. (mck)
