On August 17, 2026, Changpeng Zhao, co‑founder of the largest crypto exchange Binance, stated that he would no longer use his public crypto wallet, Trust Wallet, due to manipulations in the memecoin market. During the app’s testing, the entrepreneur discovered a large number of unknown tokens on it and began to gradually burn them. However, this attracted increased attention from the crypto community. Zhao noted that it turned out to be impossible to completely clear the address of coins: the more assets he burned, the more new tokens unknown people sent to this wallet. He reminded that the transparency of the blockchain allows any user to track transactions, which is why market participants try to find a hidden meaning in almost every movement of funds, even if there is none.

The main owner of Binance said that he decided to transfer BNB and Binance Life tokens to the Giggle Academy address – a non‑profit online platform for free education for children. After that, Zhao announced his publicly accessible crypto wallet as a burning address. Any assets sent to it will be permanently locked and completely removed from circulation. Previously, the entrepreneur had already appealed to his ten million followers, urging them not to invest in memecoins, which malicious actors are creating based on his posts and jokes on social media.

Such speculation often leads to financial losses for ordinary investors, which is what forced the exchange founder to take such radical measures to protect his reputation and the audience’s peace of mind.

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The material has been prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.