- CZ donated 150 BNB ($100,000) to LIBRA scam victims.
- He pledged to donate the extra funds to TST and BROCCOLI victims.
Binance founder Changpeng “CZ” Zhao has pledged to donate additional funds to victims of the TST and BROCCOLI meme coins. This follows his initial contribution to LIBRA scam victims, where he unexpectedly received more BNB than he initially donated.
On February 19, CZ disclosed that his donation address had received more BNB and other tokens than the 150 BNB ($100,000) he sent to LIBRA scam victims. He had donated after a university student, EnHeng, started a fundraiser with $50,000 of his funds to support affected investors.
CZ confirmed he would not keep the excess funds. “I won’t be keeping a satoshi of it,” he stated on X, promising to donate them to TST and BROCCOLI investors who suffered losses. These meme coins had surged and crashed due to speculation surrounding CZ’s online persona and dog’s name.
LIBRA Collapse Sparks Fraud Probe
The LIBRA token controversy began after Argentine President Javier Milei promoted it on X, causing a price surge. The token’s market cap reached over $4 billion before crashing by 91%, wiping out thousands of investors. Milei later deleted his post and denied involvement, claiming he was misinformed. Fraud charges have since been filed against him and the token’s creators.
Following the LIBRA collapse, multiple meme coins named BROCCOLI emerged on the BNB Chain. The term gained traction after CZ revealed his pet dog’s name. Some of these tokens saw sharp price fluctuations, driven by speculative traders.
A major incident occurred when an investor who profited $460,000 from an earlier BROCCOLI token created a new one. This investor then transferred 150 BNB and millions of the new tokens to CZ’s donation address, possibly as a manipulation tactic. In response, rival whales from the old BROCCOLI token retaliated, leading to market volatility.
CZ acknowledged that his donation disclosure unintentionally fueled meme coin speculation. He stressed that his donations did not endorse any tokens. “This is not an endorsement of any token, so do not overinterpret this,” he clarified.
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