Following an investigation in the United States, Binance founder Changpeng Zhao, also known as CZ, distanced himself from cryptocurrencies for a period and served a brief prison sentence. Fortunately, he turned over a new leaf and returned to the crypto scene. Recently, the surge in Aster can be attributed to his influence. Just a few hours ago, an unexpected event occurred, prompting CZ to declare, “We will sell these memecoins, don’t cry later.”
Binance CZ’s Return
As part of the investigation concerning Binance, CZ received a penalty, preventing his involvement with the exchange. In response, he dedicated himself to public welfare, establishing GiggleAcademy during that period. This platform focuses on providing free education to young students.
An entity named RuneCrypto recently commented, “Why isn’t Giggle raising funds? Meme coins are perfect for this purpose.” Following this, Giggle announced a fundraising campaign.
Fundraising Through Meme Coins
After the announcement, donations began pouring into the Giggle wallet at nearly a thousand dollars per minute. This initiative emerged as a brilliant marketing campaign during the height of meme coin popularity on the BSC network. Despite not promising any returns, people donate for the potential of gaining recognition, a future airdrop, or other benefits.
CZ, in a recent statement, clarified: “Every minute brings a new task. Good tasks await. For clarity, GiggleAcademy will FULLY convert donated meme coins into major altcoins and sell them. We thank you for your donations, but please refrain from complaining about sale pressure later.”
Donors have also sent altcoins like Aster, NianNian, and BEACH, but most donations align with the idea of stablecoins and BNB. In the coming hours, BSC meme coins may contribute half of their supply. Such coins may witness price fluctuations if they gain social media traction, and Giggle’s cash-out attempts might cause crash. Short-term traders can monitor the wallet, though it involves significant risk.
