CZ Destroyed Nearly $500,000 in Memcoins and Warned of Possible Sale
Date: 2025-11-10 Author: Henry Casey Categories: CRYPTO PAYMENTS
CZ Destroyed Nearly $500,000 in Memcoins and Warned of Possible Sale
Changpeng Zhao has resumed token burning and announced that he may now simply sell the Memcoins received at his donation address.
After a seven-month hiatus, the public donation address belonging to former Binance CEO Changpeng Zhao (CZ) has once again come into the spotlight. According to on-chain analyst Ai Yi, approximately $490,000 worth of Memcoins were burned at this address.
The list of destroyed assets included:
- quq — approximately $305,000
- SIREN — approximately $142,000
- BNBCARD — approximately $43,000
This data indicates that Zhao continues to get rid of unwanted tokens received at his address. However, this time, CZ added that he might change his approach to such situations in the future.
In a post on social media platform X (formerly Twitter), he stated:
"Just clearing my wallet. The donation address only stores BNB. Next time, I might just sell any memecoins I receive on the market. Don't send tokens to this address unless you want them sold."
Thus, Zhao indicated that in the future, he might prefer to sell such assets rather than burn them. This statement sparked a heated discussion in the community, as many users use CZ's address to donate tokens as a show of support or as a joke.
It's worth noting that this isn't the first time major cryptocurrency holders have publicly destroyed tokens. Coin burning is often seen as a way to stabilize their value or get rid of illiquid assets. However, in this case, CZ's actions are more likely related to simplifying his donation structure and maintaining a clean public address.
Interest in memecoins remains high, despite their high volatility and risk. A trader was previously reported to have lost over $4 million in just one month investing in such tokens. Nevertheless, many continue to seek quick profits, ignoring expert warnings.
The Binance community and Changpeng Zhao's supporters generally welcomed his decision, praising his transparency and forthright statements. Analysts believe such steps strengthen trust in key figures in the crypto market and promote a more responsible approach to digital asset management.
CZ has not yet specified whether the new strategy will be implemented in the near future, but he has indicated that his address is no longer intended for storing random memecoins.
