Changpeng Zhao said he will stop using a public wallet after unsolicited meme coins made it difficult to track his BNB balance.

He plans to donate the wallet’s remaining BNB and 币安人生 tokens to Giggle Academy before retiring the address.

Token burns sparked speculation, with one unofficial token surging from $40,000 to $30 million in market value.

The Binance founder said he made the decision after meme coins crowded the wallet and his attempts to remove them triggered community discussion. Zhao said blockchain transparency means every wallet interaction is open to public interpretation, a dynamic that can turn routine on-chain activity into a wider market talking point.

CZ Plans to Retire the Wallet

Zhao said he was testing Trust Wallet when he noticed the increasing number of meme coins in the wallet. He said the tokens made it difficult to locate his BNB balance. When he tried burning some unwanted tokens, the action created additional discussion in the community.

According to Zhao, more meme coins arrived each time he burned existing ones. He also considered asking Trust Wallet to add an “Ignore Coin” feature, but said such a feature would only help a small portion of users.

Zhao then described another solution. He plans to send the wallet’s BNB and 币安人生 tokens to Giggle Academy. After that, he said he will stop using the address entirely. He described the wallet as effectively becoming a burn address.

Token Burns Trigger Market Activity

The wallet activity also drew attention from Lookonchain analysts. They reported that Zhao burned 4,444 tokens from each of two third-party projects. According to the provided information, one of those assets was an unofficial clone.

Speculators interpreted the transaction as an on-chain signal. The clone’s market capitalization reportedly jumped from $40,000 to $30 million, and its price rose more than 30,000% during the move.

Meanwhile, the legitimate version traded on Binance Alpha remained stable. The sharp move later reversed, and the clone’s market capitalization fell to $5.26 million.

Zhao Cites Blockchain Transparency

Zhao compared the reaction with earlier crypto events involving prominent wallet activity. He said community members often try to interpret what his transactions mean. He also referenced the 2021 Shiba Inu episode involving Vitalik Buterin, who burned SHIB tokens that project creators had sent to his wallet.

In Zhao’s case, token creators reportedly sent spam assets to his address while using his identity. Those transactions then attracted further attention from traders and community members.

Zhao said he could not permanently clean the wallet because new tokens would continue arriving. For that reason, he plans to donate the remaining BNB and 币安人生 tokens before abandoning the address.