CZ Burns $49K in Unsolicited Memecoins, Warns Projects Against Wallet Spamming

Binance founder Changpeng Zhao (CZ) has taken action against unsolicited memecoin airdrops by burning approximately $49,000 worth of tokens from his public donation wallet. This marks the first such cleanup in seven months, with blockchain data confirming the permanent removal of three low-cap memecoins: QUQ valued at around $30,500, SIREN worth about $14,200, and BNBCARD totaling roughly $4,300. Each token was transferred to a burn address, effectively eliminating them from circulation.

Following the on-chain activity, CZ clarified his stance on social media, stating, "I'm just cleaning out my wallet. The donation address only holds BNB. Next time, I may choose to sell memecoins sent to me directly on the market. If you don't want them to be sold, don't send memecoins to this address." This serves as a direct warning to projects engaging in 'airdrop spamming,' a tactic where smaller memecoin teams send tokens to high-profile wallets like CZ's to gain visibility and legitimacy.

The practice of targeting celebrity wallets for marketing is not new; it gained notoriety in 2021 when Ethereum co-founder Vitalik Buterin received massive Shiba Inu (SHIB) tokens, which he later donated to charity. CZ's proactive burn, however, reinforces his opposition to such promotional strategies and underscores the challenges of maintaining transparency in a decentralized ecosystem. Despite the relatively small scale of this event, it highlights ongoing volatility and hype in the memecoin sector, where viral marketing often overshadows fundamentals.