BNB memecoins crashed up to 95% after CZ clarified that his tweets aren’t endorsements, triggering panic selling and a liquidity drain on PancakeSwap.
Posted October 10, 2025 at 9:43 am EST.
BNB-based memecoins experienced a sharp plunge in value, with some dropping between 60% and 95% over a few hours, after Binance founder Changpeng “CZ” Zhao clarified that his tweets should not be interpreted as endorsements or trading signals.
Zhao’s clarification came amid a frenzy where over 100,000 traders had speculated heavily on memecoins linked to CZ’s social media activity.
“For a brief time, I tried avoiding meme related content in my tweets. Impossible. Too many memes exist, and it made my writing unnatural,” said Zhao.
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“Now I just tweet normally, any overlap to memes is coincidental, not endorsement.”
That tweet triggered panic selling and a sharp liquidity drain, especially on decentralized exchanges like PancakeSwap, which had seen record trading volumes during the memecoin surge.
Zhao acknowledged the massive memecoin selloff in another X post, attributing it, in part, to “false news” about Binance Alpha declining to list certain coins in the future.
“People often give me too much credit, in good times and bad. I didn’t do anything. Was busy all day,” said Zhao.
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