Onchain data has reported that a memecoin burn occurred again after seven months at the public donation address of Binance founder Changpeng Zhao (CZ). According to the analysis, various memecoins worth approximately $49,000 were destroyed by the address. The distribution of burned tokens was as follows: quq: 30.5 thousand dollars SIREN: $14.2,000 BNBCARD: $4.3,000 CZ stated in a statement following the burn that the donation address would only hold BNB. Zhao explained that he took this step to purge incoming memecoins, saying: “I'm just cleaning out my wallet. The donation address only holds BNB. Next time, I may choose to sell memecoins sent to me directly on the market. If you don't want them to be sold, don't send memecoins to this address.” Related News: Galaxy Digital Research Head Announces Lower Bitcoin (BTC) Price Target - Here's Why Smaller memecoins, in particular, are sending free tokens to well-known cryptocurrency addresses of celebrities like CZ to gain recognition. A prime example of this was the Shiba Inu (SHIB) tokens sent to Ethereum (ETH) founder Vitalik Buterin. Vitalik donated all of these tokens to a hospital in India. *This is not investment advice. Continue Reading: BREAKING: Binance Founder CZ Burns All Three Memecoins in His Wallet – “I Might Sell Next Time Too”
