Binance Founder CZ's Post Sparks 22,500% Surge in TST Memecoin

TST, a memecoin on the BNB Chain, saw a massive surge, hitting a $52 million market cap before stabilizing above $15 million. The sudden spike followed a post by Binance founder Changpeng "CZ" Zhao on X (formerly Twitter).

Zhao’s post referenced a tutorial video by the BNB Chain team on launching memecoins via Four.Meme, featuring TST as an example. The video unintentionally revealed TST’s name, triggering a trading frenzy fueled by Chinese cryptocurrency influencers (KOLs). In response, the BNB Chain team deleted the video and the private key for the creator address, which controlled only 0.13% of TST’s supply.

Despite the hype, Zhao clarified, "This is NOT an endorsement from me for the token," but added, "Happy trading!" He emphasized that TST is not affiliated with Binance or BNB Chain, and neither entity holds any of the token.

TST skyrocketed over 22,500%, reaching $0.0517 at its peak before retracing.

Separately, in April 2023, Zhao resumed investment activities at Binance Labs, now rebranded as YZi Labs, after serving a four-month U.S. prison sentence for money laundering charges. YZi Labs, named after Binance co-founders Zhao and Yi He, operates as a private family office investment firm.