Binance Founder CZ Responds to Allegations of Investing in Memecoins! Prices of Three Altcoins Mentioned Dropped!

Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange, is being closely followed for his statements.

In his latest statement, CZ addressed the allegations that he invested in memecoins on BSC.

In a post from his X account, CZ stated that he has not invested in the memecoins ‘TCC’, ‘CZ’, and ‘AB’, which have recently seen a surge in popularity on the BSC chain, and that he does not have sufficient information about these coins.

CZ also stated that he does not own these tokens and only communicates with users who actively participate in the community.

This announcement comes after the Solana-based memecoin ANSEM gained attention on social media, and also indicates that CZ is maintaining a wait-and-see approach to the market and distancing himself from the community-focused memecoin race.

However, this statement disappointed some in the community who were expecting support from high-profile figures like CZ for BNB Chain projects.

Following CZ’s post, the prices of TCC, CZ, and AB fell. According to Foresight News, based on GMGN market data, the BSC-based memecoins TCC, CZ, and AB have dropped by 53%, 61%, and 47% respectively from their peaks yesterday.

*This is not investment advice.

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