Zinger Key Points
- The move was met with strong criticism from Twitter users, showing the ongoing debate about meme coins being a scam.
- The foundation may give awards or LP support, leading people to feel CZ is promoting cryptocurrencies.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
Binance founder Changpeng Zhao, known as “CZ,” ignited a meme coin frenzy and subsequent backlash in the crypto community after sharing a story and photos of his dog, a Belgian Malinois named Broccoli.
While CZ explicitly stated he was not creating a meme coin himself, the post prompted the launch of hundreds of tokens bearing the dog’s name on the BNB Chain BSC/USD.
What Happened: In his tweet, CZ explained that he chose the name “Broccoli” because it starts with “B,” has some “green in it,” and has a “blocky sound, as in blockiichain.”
“Can’t get away from crypto, haha,” he added.
The resulting proliferation of “Broccoli” themed meme coins on BSC drew immediate criticism from some corners of Crypto Twitter.
Twitter's crypto scene reacted with a mix of excitement, skepticism, and outright cynicism.
Some traders saw it as another "BNB pump" orchestrated by CZ, while others joked that “Memecoin Supercasino Wars” had officially begun between BNB Chain and Solana SOL/USD.
“Why stay on Solana when BNB Chain is getting pumped by CZ, arguably the most popular crypto influencer?” one user asked, highlighting the competitive landscape of speculative tokens.
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Others were less amused, with some traders accusing the entire space of running on recycled hype cycles.
“Every new project these days is either a memecoin rug or a VC bukkake that nukes -90% within hours,” one post read.
The reaction signifies growing frustration with the rapid, often short-lived nature of new meme coin trends, particularly those linked to high-profile figures in the industry.
Despite the controversy, the BNB Foundation hinted at potential incentives for Broccoli-themed tokens, suggesting that top-performing meme coins on BNB Chain could receive liquidity support or other rewards. While details remain unclear, the possibility of foundation-backed incentives has only fueled further speculation.
CZ's post is the latest in a growing trend where offhand comments by prominent figures lead to immediate financial speculation, often triggering a cascade of meme coin launches.
Why It Matters: Similar events have unfolded before, with tokens being created around everything from Elon Musk's dog to absurd celebrity soundbites.
Despite the backlash, CZ hinted at potential support for the “Broccoli” meme coins, stating that “The BNB Foundation may provide rewards for the top memes on the BNB Chain, giving LP support or other rewards. The details are still being discussed. More to come.”
Notably, Zhao was released from a four-month prison sentence for anti-money laundering violations in September last year.
He was imprisoned for his role in failing to establish an effective anti-money laundering (AML) program at the cryptocurrency exchange.
He has since shifted his focus to educational initiatives, founding Giggle Academy, which aims to educate young people about cryptocurrency and blockchain technology.
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Image: Shutterstock
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