Binance founder Changpeng Zhao (CZ) has rejected speculation that recent transfers of BNB Chain meme tokens from his public wallet to a burn address were an endorsement of specific projects. In a post on X, Zhao explained that the transactions were part of a routine cleanup of unsolicited third-party tokens that had accumulated over several years.
Blockchain trackers had spotted the movement of roughly 400 million tokens worth about $1.6 million from Zhao’s wallet to a burn address. This led some community members to interpret the burns as a symbolic message or a covert backing of certain meme coins. Zhao dismissed those theories outright, stating that the tokens were nothing more than digital spam that interfered with normal wallet display.
According to on-chain data from Arkham, the latest burn is part of a consistent pattern. Over the past year, Zhao has destroyed more than $6.24 million in unwanted assets across multiple cleanup events. These include earlier batches worth approximately $43,490, $142,500, and $305,870 about eight months ago, and larger transactions of $358,220, $1.95 million, $546,900, and $1.1 million roughly one year ago.
Zhao compared unsolicited token transfers to promotional spam, noting that developers often send assets to high-profile wallets hoping for public exposure. He said his wallet acts like a “black hole” for such tokens, all of which ultimately reach burn addresses without gaining any endorsement.
