Binance CEO Teases Meme Coin Launch, BNB Surges

Binance CEO Changpeng Zhao, also known as CZ, has sparked speculation within the cryptocurrency community about a potential launch of a meme coin. The discussion began when a user on X (formerly Twitter) asked Zhao if he owned a dog, to which he confirmed that he does, specifying that it is a Belgian Malinois, not a Shiba Inu (a nod to the popular meme coin Shiba Inu).

Members of the crypto community eagerly requested CZ to share a photo and the dog's name, likely hoping to capitalize on the hype to launch a meme coin. Instead of providing details, Zhao asked for clarification on how the process of creating and launching meme coins works.

“Honest newbie question. How does this work? I share my dog’s name and picture, and then people create meme coins? How do you know which one is ‘official’? Or does that even matter?” CZ wrote.

After receiving explanations from users, CZ indicated that he would consider launching a “meme” token

“I’ll think about it for a day or so—as usual, when I need to make an important decision. Respect my dog's privacy or reveal everything for the cause? I’ll see how meme coins work on BNB Chain,” he noted.

Later, Zhao promised to post a photo and name of his dog later that day. Traders began buying BNB aggressively, pushing its price up by more than 20%. At the time of writing, the asset was trading at $712.02.

Users Already Launching Meme Coins Dedicated to CZ’s Dog

Although CZ has yet to share any details, several meme coins have already been launched by community members. One such token, Binance Dog (CZDOG), surged by 109%, reaching a market capitalization of $8 billion just five hours after its release. Previously, Zhao had not been very supportive of meme coins.

“I don't mind memes, but meme coins are becoming a bit strange. Let’s develop real applications on the blockchain,” he stated in November 2024.

This week, CZ mentioned that he has never purchased meme coins. However, this does not imply he is