An obscure test token briefly became a
multimillion-dollar asset before plummeting just as fast. A BNB Chain tutorial
video accidentally revealed the memecoin TST, triggering a speculative wave
that saw its value surge by 1,281%.
Binance’s former CEO Changpeng “CZ” Zhao attempted to
clarify that neither he nor Binance endorsed the token, but the hype had
already taken hold. “This is NOT an official token by the BNB Chain team or anyone. It is a test token used just for that video tutorial. Nothing more,”
CZ mentioned.
A Tutorial Gone Wrong?
The chaos started when the BNB Chain team released an
educational video demonstrating how to create memecoins using the Four. Meme
platform. The video unintentionally displayed the token’s name, TST, prompting
immediate interest from traders.
Crypto influencers, especially within the Chinese
market, identified the coin and reportedly began aggressively trading it. Within
hours, the speculative fervor sent TST’s price soaring. It reached a peak of
$0.05183, with its market capitalization surpassing $50 million.
😂 A tricky situation. A BNB Chain team member just told me this:”We did the step by step video education for launching meme token on https://t.co/74psayTeug platform. In this video, we launched a token named TST as the example.When we posted the education video yesterday,… https://t.co/lD77CaQDCj
— CZ 🔶 BNB (@cz_binance) February 6, 2025
However, as reality set in, the token quickly crashed
back down to $15 million. BNB Chain’s team attempted to mitigate the situation
by deleting the video and removing the private key associated with the
tutorial’s wallet. Yet, the hype was already in motion.
“The team member also deleted the private key for the
creator address used in the tutorial, which holds 0.13% of the token. And no
one on the team (or Binance) holds any of that token,” CZ wrote.
A Lucky Trader’s Windfall—Or Insider Trading?
The TST frenzy highlighted the growing influence of
memecoins and token launch platforms like Four. Meme, which allow users to
easily create and launch new cryptocurrencies.
However, this rapid expansion has also caught the
attention of regulators. The UK’s Financial Conduct Authority (FCA) recently
issued warnings against certain launchpads, cautioning they may be violating
financial laws.
Despite stepping down as Binance’s CEO, CZ remains one
of the most influential figures in the crypto space. The TST episode is just
the latest example of how a single comment from him can send traders into a
frenzy.
Whether intentional or not, his words still carry
weight in an industry known for its volatility. Meanwhile, CZ has re-emerged as
a key player in blockchain investments through YZi Labs, a rebranded version of
Binance Labs.
This article was written by Jared Kirui at www.financemagnates.com.
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