Binance founder Changpeng “CZ” Zhao is once again at the center of crypto attention — this time over a meme coin inspired by him, which lost 86% of its value within hours after CZ publicly warned people not to buy it.
What began as a supposed tribute quickly turned into a disaster, as CZ called the project a dishonest attempt to make a quick profit.
“Don’t Buy the Meme,” CZ Says
On X (formerly Twitter), CZ posted a viral message addressing the newly launched CZ STATUE Memecoin.
Although he thanked fans for their enthusiasm, he made it crystal clear that he has no connection to the project.
“The creator of this coin is likely just trying to make a quick buck off my name. That’s not something I support. Don’t buy the meme.”
CZ reminded followers that this isn’t the first time opportunists have tried to capitalize on his popularity. Over the years, several meme coins using his name or the Binance brand have appeared — most of them skyrocketing and collapsing within days, leaving small investors with painful losses.
86% Crash Within Hours
The CZ STATUE token, launched on the BNB Chain, initially looked like another viral meme hit. Within hours of its release, it surged to a market cap of $5.7 million with over 600 holders.
But soon after, on-chain data revealed suspicious activity.
A newly created wallet dumped $57,000 worth of tokens, triggering concerns about insider trading and a lack of transparency.
Then came CZ’s post — and the crash.
Within hours, the token plummeted 86%, erasing most of its market cap and leaving traders in disbelief.
Community Reacts: Respect and Relief
CZ’s swift reaction earned widespread praise across the crypto community. Many applauded him for speaking out against a project that used his image without permission.
“Finally, someone with influence calling out scams,” one user wrote.
Another added: “Thanks, CZ — you probably saved a lot of people from losing money.”
“I Would Never Accept a Statue of Myself”
Adding a touch of humor, CZ recalled a similar incident when someone gave him a t-shirt with his own face printed on it:
“Who has the ego to wear a t-shirt with their own face? Or to keep a statue of themselves? Seeing it once is more than enough.”
His remark referenced the recent golden CZ statue, which had also been linked to the CZ STATUE project — originally meant as a tribute, but quickly revealed to be a marketing ploy to promote the meme token.
A Pattern CZ Refuses to Endorse
This isn’t the first time projects have tried to use CZ’s name for publicity.
Over the years, multiple meme tokens named after him — from “CZINU” to “MiniCZ” — have surfaced, all following the same pattern: rapid growth, sudden collapse, and investor losses.
This time, however, CZ responded immediately and publicly, aiming to stop the damage before it spread.
“I hope the community learns from this. Any token using my name that I didn’t personally launch should be considered suspicious,” he wrote on X.
Summary
What began as a fan tribute turned into a market warning.
The CZ STATUE token’s collapse is yet another reminder that meme hype can turn into losses in a matter of hours.
And once again, CZ proved that even after leaving Binance, he remains one of crypto’s most influential voices — this time using it to say, loud and clear:
“Don’t buy the meme.” 🚫
#CZ , #Binance , #memecoin , #Cryptoscam , #CryptoCommunity
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