‘Don’t Buy the Meme’: CZ Statue Token Implodes After 27,000% Surge
A memecoin tied to a statue of Binance founder CZ crashed 99% after CZ publicly disowned it and warned people not to buy it.Summary
A memecoin named "czstatue," associated with a statue of Binance founder Changpeng "CZ" Zhao placed near the U.S. Capitol, experienced a massive surge of 27,000% in one day, reaching a peak price of 17.5 cents and generating $1.2 billion in trading volume, before collapsing to near zero. The crash followed a tweet from CZ where he explicitly stated, "Don't buy the meme," expressing his disapproval that the token's creator likely intended to profit from his name. CZ further distanced himself from the statue, saying he would never accept one of himself. The token's collapse left 1,177 holders with nearly worthless assets, leading to speculation that the creator implemented a "honeypot" contract preventing anyone but the creator from selling.
(Source：CoinDesk)