Binance’s CZ Denies Links to Meme Profit Ventures
- CZ disclaims support for meme profit-geared initiatives.
- No verified financial links between CZ and Hyperliquid.
- Binance’s market stance unaffected by recent rumors.
Changpeng Zhao, founder of Binance, clarified his lack of support for creators using his influence for meme-driven fast money schemes on Twitter, amid prevailing speculation.
Zhao’s statement dispels myths about financial backing, affecting creator behaviors and market sentiments, emphasizing transparency amidst rampant speculation in the cryptocurrency community.
Changpeng Zhao, founder of Binance, firmly denied any support for creators seeking rapid profit from his popularity through memes. He commented on his lack of involvement with Hyperliquid and emphasized that any such connection was unfounded.
Jeff Yan, associated with Hyperliquid, was part of an early incubation cycle at Binance Labs, which failed to thrive. CZ clarified his limited engagement with Yan, addressing and dismissing rumor-driven claims of associative financial ties.
The broader market showed no significant reaction to these clarifications. Community members predominantly view it as a clarification, noting CZ’s focus on distancing Binance from such speculative ventures.
Various statements affirmed no financial collaborations between CZ and meme-related projects. Analytical reviews report no liquidity shifts or technical value indicators suggesting otherwise, reinforcing CZ’s assertions.
No financial misconceptions affected Binance’s assets, with no proven shifts in ETH, BTC, or related coins.
Technological and regulatory outcomes remain unaffected as no official inquiry has followed. Historically, similar rumors have led to misunderstandings but rarely to substantive economic implications within the industry, maintaining a steady market environment.
“Gossip tweet. Saw a couple of posts on this topic: If you didn’t know, Jeff (HL) was part of the YZiLabs (Binance Labs back then) incubation season 1 cohort in 2018. Unfortunately, that project failed. YZiLabs did not recoup any of its investment. It happens.” — Changpeng “CZ” Zhao, Founder, Binance
