Zhao Warns Against New Memecoin, After Golden Statue Emerges

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Binance founder Changpeng “CZ” Zhao warned crypto investors not to buy a new memecoin launched to capitalize on his popularity, cautioning against the financial risks of trading celebrity-linked tokens with no real blockchain utility.

The memecoin emerged shortly after a fan page built a golden statue of Zhao, sharing pictures and offering to send it to the founder of the world’s largest crypto exchange.

Zhao warned users in a Wednesday X post not to buy the memecoin associated with the statue, as the token’s launch signaled that the creators…



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Zhao Warns Against New Memecoin, After Golden Statue Emerges


Binance founder Changpeng “CZ” Zhao warned crypto investors not to buy a new memecoin launched to capitalize on his popularity, cautioning against the financial risks of trading celebrity-linked tokens with no real blockchain utility.

The memecoin emerged shortly after a fan page built a golden statue of Zhao, sharing pictures and offering to send it to the founder of the world’s largest crypto exchange.

Zhao warned users in a Wednesday X post not to buy the memecoin associated with the statue, as the token’s launch signaled that the creators…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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