Key Notes

Key Notes:

CZ’s posts unintentionally created a hype around TST and BROCCOLI meme coins.He has now pledged donations to help some victims but insists on not endorsing the tokens.

Investors in Test (TST) token and BROCCOLI, who recently found themselves in a pump and dump situation, may finally have something to cheer about. This follows after Binance founder Changpeng Zhao (CZ), apparently feeling sorry for the victims, mentioned that he would like to compensate them.

His plan includes donating to the two tokens, both of which have been linked to CZ despite his best efforts denying having direct involvement in launching any TST or Broccoli-related token.

CZ made a post about his dog Broccoli. This post led to an influx of Broccoli-related tokens onto the Binance Smart Chain (BSC).

Also, he shared an educational video of BNB Chain sometime last week. The video featured a Test (TST) token as an example, which then led to the creation of various TST meme coins.

The resulting token launches from Zhao’s recent actions did not come as a surprise, though. CZ wields more than enough influence in the crypto space, and so investors rushed to buy the meme coins, expecting significant price appreciation.

The two tokens in the spotlight, however, have plummeted 60-80% from their peak over the past week. That is, as a series of pump-and-dump cycles wiped out millions of dollars in market capitalization while throwing the market into a major panic mode.

According to crypto analyst DeFi Mochi, CZ may not have directly played a part, but he did intentionally not endorse any specific Broccoli token to increase speculation and volume on the BNB chain.

In what seemed like a mere goodwill gesture and not an acknowledgement of the allegations about his involvement, CZ has said that he will help some victims of these meme coins.

While he already donated 150 BNB worth around $100,000 to a university student assisting victims of the Libra project on Tuesday, Zhao has now turned his attention to the victims of TST token and BROCCOLI meme coin.

As of this publication, the address has received more BNB donations than Zhao’s initial contribution, along with other tokens.

However, knowing that this gesture may yet bring about another set of speculation, the Binance founder has quickly cleared the air about his compensation effort. He noted that this does not mean he is affiliating with the said tokens.

“I won’t be keeping a satoshi of it. Will donate it away, most likely to people who had a loss on TST or some of the Broccolis. This is NOT an endorsement for any of the tokens. Do NOT overinterpret this,” his X post reads.

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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.

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