Binance Founder CZ Addresses $41M Surge of BNB Chain Test Token
The crypto market experienced volatility following events involving Binance and the launch of the TST token. Key points include:
- Changpeng Zhao, former CEO of Binance, announced that TST was created as a test token for an educational video on launching meme tokens.
- The token's market capitalization peaked at $41.42 million shortly after its introduction but has since dropped to $10 million.
- The video showcasing TST was deleted by the BNB Chain team after realizing its unexpected impact.
- Zhao emphasized that TST was not intended for trading and that no Binance or BNB Chain members held any of its supply.
- He suggested restoring the educational video, framing the incident as a misunderstanding rather than a promotional effort.
