Binance Founder CZ Fuels Potential BNB Chain Memecoin Craze

The founder and former CEO of Binance, Changpeng Zhao (CZ), after criticizing the memecoin craze that gripped cryptocurrency markets over the last few months, may be fueling the launch of new ones based on his dog.

Taking to social media, CZ revealed to followers that he has a Belgian Malinois, prompting numerous requests for him to share pictures and the name of the dog. In response, CZ asked how it would be determined which cryptocurrency inspired by his dog’s name and picture would become the “official one.”

The market, said CZ, will eventually pick the most liquid one as the “official” one and drop others. The founder of Binance revealed he “might even interact with a couple of memes on BNB Chain,” before laying it all out.

“Will post the dog pic in 3 hours, 8 p.m. ish Dubai time,” CZ posted. In response, many expressed enthusiasm while others criticized his current stance, given his earlier call to “build real applications.”

Andre Cronje, a prominent figure in the decentralized finance ecosystem, warned CZ against the launch.

“Dude, if you do this, just launch the CA [contract address] and share instead; otherwise, you will indirectly rug so much of your community," he said. "People will deploy tens, if not hundreds, of contracts and scam your followers. Just launch a fair one yourself."