Binance's CZ Unintentionally Spawns TST Token Frenzy

Binance Founder's Video Post Sparks TST Token Frenzy

Binance founder and former CEO Changpeng Zhao (CZ) inadvertently triggered a trading frenzy around a test token, TST. Interestingly, one lucky trader turned $35,000 into nearly $700,000, representing gains of almost 1,900%.

The news centers around Four.meme, which advertises as the first meme coin fair launch platform on Binance Smart Chain (BSC).

Binance’s CZ Claims Accidental Exposure

The incident stemmed from an educational video made by the BNB team demonstrating how to launch a meme token on the Four.meme platform. However, it resulted in an unexpected surge in the test token TST’s market capitalization.

Changpeng Zhao took to social media platform X (Twitter) to clarify how TST gained traction. He cited a now-deleted video tutorial posted on the Four.meme platform.

“In this video, we launched a token named TST as the example….,” CZ explained, citing a BNB Chain team member.

Following an accidental reveal by the BNB team, members of the Chinese crypto community identified the token and began actively trading and promoting it. CZ emphasized that neither he nor Binance exchange holds any of the tokens.

“This is NOT an endorsement from me for the token…no one on the team (or Binance) holds any of that token. This is NOT an official token by the BNB Chain team or anyone. It is a test token used just for that video tutorial,” he articulated.

Reportedly, a team member also deleted the private key for the tutorial wallet. However, this did little to stop speculators from jumping in, sending TST’s market cap to nearly $500,000 within hours.

Crypto analyst Ai shed light on an intriguing transaction. A trader, identified by the wallet address 0xeBB…74711c, purchased $35,000 worth of TST just minutes before CZ’s tweet. As the hype built up, the trader’s holdings skyrocketed to a floating profit of $657,000—a staggering 1,885