A meme coin frenzy emerged after Binance CEO Changpeng Zhao revealed his dog’s name, Broccoli. Capitalizing on the frenzy, a high-rolling crypto sniper bought numerous Broccoli-themed coins. As per data, the sniper then distributed these tokens across multiple wallets via “disperse” for strategic selling,
The bot then consolidated the resulting BNB into wallet “0xe332…03f3” and converted it to USDT. This moves resulted in a staggering $27.8 million USDT profit.
This massive gamble comes amidst a fierce debate on CZ’s stance on meme coins grows, after he hinted of a BNB-native coin.
In his latest post, a user slammed CZ for endorsing a “guessing game” on Binance Smart Chain (BSC), arguing that meme coin trends on the BNB chain were turning into “on-chain massacres” instead of genuine ecosystem growth.
In response, CZ admitted he wanted to boost activity on BSC but dismissed the idea of launching or running a meme coin himself. He however remained open to receiving feedback.
“I have zero experience and thought they were community-driven. But feedback received,” he wrote on X.
CZ’s calm reaction to the accusations and his acknowledgment was well received by many. Others however, remained cautious of a potential meme coin launch. A prominent BNB member argued that meme coins often are mired with scams, greed, and mass investor losses. “Memes aren’t community-driven; they’re greed-driven. We need utility-based projects, not more rugs,” the user pushed back.
A Meme coin should have Utility & Innovation, Not Just Hype
Conversely, another user took an optimistic view, suggesting that BSC should take a cue from Solana’s approach of strategically promoting projects to create a wealth effect.
They stressed that BSC should focus on projects with fair tokenomics and active development, instead of FOMO, to avoid scams and ensure sustainable growth.
CZ ultimately agreed, stating that BNB Chain should focus on reliability and innovation rather than gambling-style speculation. “I fully agree with this,” he responded, hinting at a potential shift in Binance’s engagement with meme coins.
While the sniper’s massive profit underscores the intricacies of meme coin speculation, the CZ debate highlighted the importance of open discussion and valuable insights. Influential figures like him wield tremendous power and carry significant responsibility.