Binance founder Changpeng “CZ” Zhao has warned crypto investors not to buy the new CZ-themed memecoin launced to capitalised on his popularity, adding that celebrity-linked memecoins like this has not real utility.
The memecoin emerged after images of a 14-foot golden statue of Zhao appeared online earlier this week. The team behind it later issued a BNB Chain token called CZSTATUE, which briefly surged to a $5.1 million market cap before collapsing 86% within hours, according to Nansen data.
In a post on X, Zhao distanced himself from the project while accusing the creator of the memecoin of trying capitalise on his popularity.
“While I appreciate the gesture, the fact that there’s a token tied to this means someone is just trying to make a quick buck off an interaction from me. Don’t buy the meme.”
CZ’s remarks fueled widespread speculation that the meme coin was another opportunistic play on his reputation — echoing the recent wave of celebrity-themed tokens with little to no utility.
Exerts have also found that more than 15% of the token supply was held by newly created cryptocurrency wallet, signalling potential insider actiivty and marked a "red flag" for its tokenomics, according to Nansen.
But instead of pushing fans away from the memecoin, CZ's warning only drew more attention. Following CZ's tweet, the official memecoin's price experienced a second boom after spiking by 30% over the past day. This underscoring how controversy itself has become a trading signal for memecoin speculators.
Shortly CZ's sharp accustions one of the statue’s creators quickly stood out to explain his part of the story. Nick Zee, one of the artists behind the project, told Decrypt that the group had no intent to exploit Zhao or the Binance community for financial gain.
Instead, he said, the project was funded by $50,000 in anonymous donations and was meant as a symbolic tribute to CZ’s contributions to the crypto space. The team also deliberately designed the smart contract address to end in "4444" as a tribute to CZ's popular four-fingered gesture.
During an interview, Zee expressed his disappointment over CZ's accusations, saying
"They're like hyenas. I used to love the space, but I just came to the conclusion that nobody's genuine, nobody's honest. Everyone's here for one thing: to make money off you."
The team said they had planned to gift the statue to CZ or auction it for charity tied to his educational nonprofit. Zhao, however, rejected the gesture outright, writing that he would “never accept the statue” because “only an egomaniac would have a statue of himself in his house.”
At face value, the creators’ intentions appear genuine — a mix of admiration, performance art, and crypto culture. But in a market where attention equals liquidity, even sincere projects quickly morph into speculative assets once tokens enter the mix.
So, was the statue team chasing clout or profit? Probably neither — but the memecoin ecosystem around them certainly was. The incident reveals an uncomfortable truth about crypto’s attention economy: in 2025, even good faith can be monetized faster than it can be explained.
Claude 3.7 Sonnet, an AI model from Anthropic, is playing "Pokémon Red" live on Twitch, overcoming challenges and making strategic decisions. Unlike earlier versions, it has successfully defeated three Gym Leaders, showing significant progress in AI's ability to solve problems and adapt to new situations.
AnaisCrypto influencer SolJakey has disclosed that he was forced to flee the country due to death threats following the controversial launch of the $LIBRA token.
CatherineStrive Asset Management suggested GameStop invest its $4.6 billion in Bitcoin to become a key player in digital assets. GameStop has not yet responded but is reportedly exploring alternative assets.
Weatherly21 D.O.G.E. employees resigned, warning that Musk's government purge is destabilising federal systems and threatening vital public services. After political loyalty interrogations, one-third of the agency was dismissed overnight via an anonymous email. The purge has disrupted essential services like Social Security, disaster relief, and taxes. Could this bold move backfire and harm the very institutions it seeks to reform?
KikyoApple announced a $500 billion investment in its U.S. operations, focusing on AI, manufacturing, and engineering. Despite speculation, the company has not shown any interest in adopting cryptocurrency.
WeatherlyA viral video captures a startling moment as two AI agents recognise each other during a call—then abruptly switch from human language to an unknown, machine-only communication.
CatherineA Binance user was targeted by a phishing scam after receiving a fake SMS about account access from North Korea. The scammer convinced the user to transfer funds to a fraudulent wallet, resulting in a financial loss.
WeatherlyCircle's CEO, Jeremy Allaire, is calling for mandatory registration of stablecoin issuers in the U.S. to ensure transparency and protect consumers. Meanwhile, U.S. lawmakers and regulators are intensifying efforts to create clear rules for stablecoins, with growing scrutiny on companies like Circle and Tether.
AnaisPump.fun’s X account was hacked to promote a fake PUMP token, which quickly collapsed, leaving victims with worthless assets. The platform regained control and urged users to verify information. Yet many still fell for the scam despite prior warnings—was it blind optimism or greed?
CatherineBank of America plans to launch a USD-backed stablecoin once US lawmakers approve the regulatory framework. The move could bring stablecoins into mainstream consumer banking, increasing competition among major financial institutions.
Weatherly