BNB Chain Team Sells $30,400 in TST Tokens Amid Previous Denials

The BNB Chain development team has reportedly sold more than $30,400 worth of TST tokens in four separate transactions, a move that contradicts earlier statements by Binance founder Changpeng "CZ" Zhao that the team had deleted the private keys and held no position in the token. The transactions appear to mark a complete exit from the token by the development address [1].

TST initially emerged as a demonstration token featured in a BNB Chain tutorial video for the four.meme platform. It was never intended for public trading. However, the token's name was inadvertently revealed in a single frame of the video, prompting Chinese trading communities to begin purchasing TST. This led to an unexpected surge in trading activity, with the token’s market capitalization peaking above $50 million [1].

In February 2025, CZ addressed the situation on X, clarifying that a team member had accidentally exposed the TST name during video production. He stated that the private keys for the token’s creator address had been deleted and emphasized that no members of the development team or Binance held any TST tokens [1]. This explanation was intended to reassure the community that the token had no official backing and served purely as an educational demonstration.

However, blockchain analysis by crypto media figure Colin Wu has revealed four transactions totaling over $30,400 from the development address, directly contradicting CZ’s earlier claims. These sales have fueled skepticism and raised concerns about the accuracy of public statements made by the development team. The discrepancy has led to criticism on social media, with one investor stating, “Someone lied about the private key here.” CZ has not yet responded to these allegations [1].

The TST token has since experienced a dramatic decline. BeInCrypto data shows that it has lost 100% of its value from its February peak and is currently trading around $0.02. The token’s market has been highly volatile, with large holder activity significantly influencing its price. In late May, an anonymous whale sold between $6-7 million worth of TST, triggering an immediate 40% price drop [1].

Despite the lack of official support from Binance, TST continues to maintain a daily trading volume of approximately $25.7 million, with more than 26% of that volume originating from Binance. This concentration reflects the limited liquidity and depth of the TST market across other exchanges [1].

As a meme token, TST fits a broader category of cryptocurrencies whose value is driven primarily by community interest and speculative trading. Unlike major cryptocurrencies such as Bitcoin or Ether, meme tokens often lack fundamental use cases or technological innovation. TST's trajectory—rapid price appreciation followed by a steep decline—exemplifies the volatility and market dynamics typical of such tokens. The controversy surrounding the development team’s token sales underscores broader questions about transparency and trust in cryptocurrency projects [1].

With the development team having reportedly exited its position and the token continuing its downward trend, TST’s future appears limited. The lack of utility beyond its original educational purpose and the erosion of trust resulting from conflicting statements raise concerns about its long-term viability [1].

Source: [1] BNB Chain Development Team Reportedly Sells $30,400 in TST Tokens Despite Previous Denials (https://coinmarketcap.com/community/articles/689a425bc4a7cb3a2ce85c30/)