Changpeng Zhao (CZ) of Binance burns some of the best meme coins like Tutorial (TUT) and Brocolli (BROCCO). He also asked the crypto community not to send him more tokens. The Meme Index presale ended with over $4.4 million raised, and MEMEX is now trading on leading DEXes.
Meme coins thrive on hype, and prices often soar when a public figure mentions or endorses them. This is precisely why crypto founders like Changpeng Zhao, Vitalik Buterin, or Charles Hoskinson of Cardano avoid mentioning or backing trending meme coins. Lessons can be learned from Elon Musk’s engagement with Dogecoin and the $1 billion lawsuit that followed due to claims of damages and pump-and-dump allegations.
Changpeng Zhao (CZ) Burns Meme Coins: What’s CZ Binance Plan?
Staying cautious, Changpeng Zhao, the founder of Binance, recently sent millions of dollars worth of meme coins to the incinerator.
This move drove prices higher and underscored his deliberate choice to avoid meddling with meme coins and the potential risks they pose to holders.
In a post on X, Zhao said he manually burned these meme coins instead of using AI solutions that have not been security-reviewed.
According to Arkham data, the Binance founder burned a cumulative $1.9 million worth of Tutorial (TUT) and Brocolli (BROCCO) tokens.
(Source)
Notably, Zhao didn’t buy these tokens; project founders donated them.
This trend has gained traction recently, with meme coin and other project founders sending thousands, if not millions, of tokens to celebrity founders like Buterin or Zhao, hoping for a mention and free promotion.
Aware of this, Zhao burned them and asked the crypto community to stop sending him free tokens.
Last year, he criticized the viral meme coin trend, calling it “a little weird.” Zhao urged developers to focus on building dapps that solve real-world problems.
I am not against memes, but meme coins are getting "a little" weird now.
Let's build real applications using blockchain.
— CZ 🔶 BNB (@cz_binance) November 26, 2024
Meme coins thrive on viral marketing and social media hype. While early adopters can reap quick profits, research shows that most traders lose money, especially if the token is promoted on social media platforms like X.
TUT prices remain firm as of this writing, steadily building on gains from March 2025. The uptrend persists, and if more capital flows into the meme coin, the token could break above $0.07 and even $0.10.
(TUTUSDT)
Meanwhile, BROCCO tokens rose, but gains reversed shortly after. However, the uptrend holds, and whether the meme coin will reach fresh highs above $0.10 remains to be seen.
Meme Index Presale Ends: Over $4.4 Million Raised
With capital likely flowing into these tokens, savvy investors are exploring some of the best meme coins to buy, such as the Meme Index.
Meme Index seeks to create a structured way to invest in meme coins.
They are pioneering a model to stabilize this volatile market.
The index will feature four baskets, each structured by volatility. Investors seeking quick gains can buy into the “Meme Frenzy Index,” packed with tokens under a $50 million market cap.
Conversely, traders seeking stability can opt for the “Meme Titan Index,” featuring tokens with market caps above $1 billion or those that recently crossed this milestone.
MEMEX holders can vote on which tokens are added to each index.
MEMEX is now available for trading, and as the crypto market recovers, it could become one of the best cryptos to buy in 2025.
DISCOVER: Best New Cryptocurrencies to Invest in 2025 – Top New Crypto Coins
CZ of Binance Burns Top Meme Coins, Meme Index Presale Over
- Changpeng Zhao of Binance burns TUT and BROCCO meme coins
- TUT and Brocolli meme coins rise before stabilizing
- CZ rejects donated tokens, claims meme coins are getting weirder
- Meme Index presale over, over $4.4M raised
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