U.today
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Ex-Binance Boss CZ Shares His Plan for $1 Million Crypto Gift
It started with a charity dinner. Former Binance CEOChangpeng Zhao, better known as CZ, donated 150BNB — around $100,000 — to support victims of the LIBRA token rug-pull scandal, a project controversially linked to the Argentine president.
That was supposed to be the end of it. But then something unexpected happened as the wallet used for the donation received over $1 million back. Now,CZ had a decision to make.
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Airdrop it? Burn it? Donate it? Add to a liquidity pool? He considered all options. Airdrops sounded nice, but they come with logistical headaches — who gets what, and why?
Burning the tokens? Some saw the logic, but it wasn’t exactly productive. Charity? Always a priority, but only if the organization is crypto-enabled and allows transparent tracking.
Liquidity support, though? That started to make the most sense.
So Zhao tested. Played around with market maker functions, observed the MEV experience from this wallet. A little late to the game, he admitted, but a valuable learning experience nonetheless. And fun, in its own way.
Plan
Right now, he is leaning toward liquidity provision. It’s not about making or losing money on this address — it’s about indirectly giving back to the crypto community in a way that keeps things moving.
I might do a combination with the money. To see what works well.Many suggested donating to charity, which I support. I love using crypto for charity. My requirement for charity is that the receiving organization has to be crypto-enabled, and tracking must be allowed to the end…
— CZ 🔶 BNB (@cz_binance) February 23, 2025
The final decision is not set in stone as CZ says he is still open to suggestions. What matters is transparency, efficiency and real impact.
card
It's cool that even after stepping back fromBinance and even serving a jail sentence, CZ is keeping his hands in the game, continuing to push crypto forward in ways that actually matter.
That was supposed to be the end of it. But then something unexpected happened as the wallet used for the donation received over $1 million back. Now,CZ had a decision to make.
card
Airdrop it? Burn it? Donate it? Add to a liquidity pool? He considered all options. Airdrops sounded nice, but they come with logistical headaches — who gets what, and why?
Burning the tokens? Some saw the logic, but it wasn’t exactly productive. Charity? Always a priority, but only if the organization is crypto-enabled and allows transparent tracking.
Liquidity support, though? That started to make the most sense.
So Zhao tested. Played around with market maker functions, observed the MEV experience from this wallet. A little late to the game, he admitted, but a valuable learning experience nonetheless. And fun, in its own way.
Plan
Right now, he is leaning toward liquidity provision. It’s not about making or losing money on this address — it’s about indirectly giving back to the crypto community in a way that keeps things moving.
I might do a combination with the money. To see what works well.Many suggested donating to charity, which I support. I love using crypto for charity. My requirement for charity is that the receiving organization has to be crypto-enabled, and tracking must be allowed to the end…
— CZ 🔶 BNB (@cz_binance) February 23, 2025
The final decision is not set in stone as CZ says he is still open to suggestions. What matters is transparency, efficiency and real impact.
card
It's cool that even after stepping back fromBinance and even serving a jail sentence, CZ is keeping his hands in the game, continuing to push crypto forward in ways that actually matter.
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