Thomas Daniels
The former CEO of Binance, Changpeng Zhao, has reiterated his dedication to the BNB Chain ecosystem by promising more liquidity assistance and warning against opportunistic token transfers.
Zhao said he will provide “a few hundred BNB” to the liquidity pools of the BNB Chain weekly program winners until his allotted money were used up in a post on X on February 28. Additionally, he proposed that program managers broaden the scope of eligibility beyond meme tokens to encompass enterprises with higher market capitalizations and those that function across other industries.
The BNB Chain Meme Liquidity Support Program, which was introduced on February 18 to improve liquidity for specific meme tokens, is in line with this strategy. Through the wallet of the BNB Chain Foundation, the program offers successful projects permanent BNB liquidity. The BNB Smart Chain (BSC) is the native launch platform for eligible tokens, and platforms like Four.meme, Burve, Gra.Fun, PinkSale, Flap, TokenFi, Beeper, HoloworldAI, and PancakeSwap’s SpringBoard are required for approval.
Zhao: Unwanted tokens will either burn or be left behind.
Zhao warned anyone trying to transfer him tokens to increase his visibility in conjunction with his liquidity initiative.
“If you send funds to this address with the expectation that I will send them back so that you have a linked transaction or interaction with me, then you are greedy,” he said.
In order to avoid creating needless effort and encouraging further opportunistic token transfers, Zhao made it clear that he would not be returning these monies. Rather, he intends to either burn the tokens or leave them unaltered. According to him, “I will not endorse any tokens,”
Zhao reportedly contemplated turning unwanted tokens into BNB, following Ethereum co-founder Vitalik Buterin’s previous strategy, but he eventually gave up on the idea because of worries about the impact on the market and the added burden.
“I typically choose the least amount of work,” Zhao said.
Zhao’s Market Prospects During Court Cases
Zhao is still active on social media, regularly commenting on cryptocurrency market trends, even though he was sentenced to four months in prison for money laundering offenses.
He suggested that investors who are under stress should reevaluate their investments in a recent post about market volatility.
“Free markets include dips. Not financial guidance. “You should probably reduce your investment size if you are stressed about it,” Zhao added, characterizing cryptocurrency as a “worldview shift.”
In November 2023, Zhao stepped down as CEO of Binance, and Richard Teng took over.
