Binance founder Changpeng Zhao (CZ) has announced plans to donate more funds to investors who lost money in the TST and BROCCOLI memecoins. This follows his earlier 150 BNB ($100,000) donation to those affected by the LIBRA token collapse.
Unexpected Crypto Influx After LIBRA Donation
CZ originally donated to LIBRA victims after being inspired by a university student named EnHeng, who pledged $50,000 of his own money to assist those affected. However, after making his contribution, CZ’s wallet received more Binance Coin (BNB) and other tokens than he initially gave away.
Rather than keeping the funds, he pledged to redirect them to other affected investors. “I won’t be keeping a satoshi of it,” CZ stated on X, confirming that he would use the influx to help TST and BROCCOLI investors.
LIBRA Token Crash Leaves 40,000 Investors at a Loss
The LIBRA token skyrocketed after Argentine President Javier Milei promoted it on X, leading to a sharp price surge. Within hours, its market capitalization hit $4 billion. However, Milei later deleted his post, causing LIBRA’s value to plummet by over 91%. More than 40,000 investors suffered massive losses, with some losing life savings and tuition fees.
The controversy has led to multiple lawsuits against Milei, with critics accusing him of misleading investors. The Argentine leader has since denied involvement, claiming he was unaware of the token’s full details.
TST and BROCCOLI: Memecoins Tied to CZ’s Persona
Unlike LIBRA, the TST and BROCCOLI tokens emerged due to their perceived association with CZ.
- TST (Test Token) gained traction after CZ mentioned a test token in an educational post. Speculation drove its value up, but it later dropped by more than 85%.
- BROCCOLI—a meme token named after CZ’s dog—followed a similar pattern. After an initial price surge, it declined by 80%, hitting an all-time low of $0.04272.
Many investors suffered steep losses, prompting CZ to extend his donation efforts beyond LIBRA victims.
CZ Denies Any Involvement in Memecoin Hype
Despite the influx of tokens into his wallet, CZ denied any endorsement or direct links to these memecoins. “When you try to make quick money, you often lose. When you give money away, you get more back,” he wrote on X.
He reiterated that he would not personally benefit from the situation, instead choosing to donate all received funds to impacted investors.
As memecoins continue to generate volatility, CZ’s actions highlight both the risks of speculative trading and the unpredictable nature of crypto markets.
