Binance founder plans BNB liquidity boost, warns against opportunistic token sends

Former Binance CEO Changpeng Zhao has announced plans to support the BNB Chain ecosystem by providing liquidity to weekly program winners while firmly addressing attempts to gain his attention through token donations.

In an X post on Feb. 28, Zhao stated he will add “a few hundred BNB (BNB) in liquidity” to BNB Chain weekly winners until his allocated funds are depleted. He noted that program administrators will likely expand eligibility beyond meme tokens to include larger market cap projects and additional sectors.

The initiative aligns with the BNB Chain Meme Liquidity Support Program launched on Feb. 18. This program highlights top meme coins by adding permanent BNB liquidity to winning projects’ pools from the BNB Chain Foundation’s wallet.

Eligible tokens must be natively launched on BSC through approved platforms including Four.meme, Burve, Gra.Fun, PinkSale, Flap, TokenFi, Beeper, HoloworldAI, and PancakeSwap’s SpringBoard.

Zhao: Tokens sent will be left or burned

Zhao’s announcement came with a pointed warning to those attempting to send tokens to his address, hoping for a response.

“If you send funds to this address with the expectation that I will send them back so that you have a linked transaction or interaction with me, then you are greedy,” he stated.

The former exchange head explained that returning such tokens would create unnecessary work and encourage more opportunistic sends. Instead, Zhao plans to either leave the tokens untouched or burn them. “I will not endorse any tokens,” he emphasized.

Zhao also briefly considered converting received tokens to BNB, similar to Ethereum founder Vitalik Buterin’s approach with unsolicited token sends. However, he abandoned this idea after considering market impact concerns for existing holders and the additional effort required.

“I typically choose the least amount of work,” Zhao noted.

The statement shows Zhao’s approach during his limited participation in crypto markets while serving a four-month prison sentence for money laundering violations. He has maintained a surprisingly active social media presence during this period, regularly commenting on market conditions.

In a recent post addressing market volatility, Zhao advised that investors feeling stressed should consider reducing their exposure.

“Dips are a part of free markets. Not financial advice. If you are stressed about it, you probably should reduce your investment size,” Zhao wrote, touting crypto as a “worldview shift.”

Zhao resigned as Binance CEO in November 2023. He is succeeded by Richard Teng.