Changpeng Zhao plans BNB liquidity boost, snubs token sends

The former CEO of Binance, Changpeng Zhao, announced its intention to support the ecosystem of the BNB channel by providing liquidity to the winners of the weekly program while firmly approaching attempts to attract its attention thanks to chip donations.

In a post X on February 28, Zhao said he would add “a few hundred BNB (Bnb) in liquidity ”to the weekly winners of the BNB chain until its allocated funds are exhausted. He noted that program administrators will probably broaden eligibility beyond tokens even to include larger market capitalization projects and additional sectors.

The initiative is aligned with the BNB chain liquidity support program launched on February 18. This program highlights the best parts even by adding permanent liquidity of BNB to the pools of winning projects of the BNB Chain Foundation portfolio.

Eligible tokens must be launched natively on BSC via approved platforms including Four.meme, Burve, Gra.fun, Pinksale, Flap, Tokenfi, Beeper, Holoworldai and Pancakeswap’s Springboard.

Zhao: The tokens sent will be left or burned

Zhao’s announcement came with a sharp warning to those who try to send tokens to his address, hoping for an answer.

“If you send funds to this address while waiting for them to send them to have a transaction or an interaction linked with me, then you are greedy,” he said.

The former chief of exchange explained that the return of such tokens would create unnecessary work and would encourage more opportunistic shipments. Instead, Zhao plans to leave the tokens intact or burn them. “I will not approve of any tokens,” he said.

Zhao also briefly considered the conversion of tokens received in BNB, similar to the approach of the founder of Ethereum Vitalik Buterin with shipments of unsolicited tokens. However, he abandoned this idea after examining the concerns of impact on the market for existing holders and the additional effort required.

“I generally choose the least work,” noted Zhao.

The declaration shows Zhao’s approach during his participation limited to cryptographic markets while serving a four -month prison sentence for money laundering violations. He maintained a surprisingly active presence on social networks during this period, regularly commenting on market conditions.

In a recent article on market volatility, Zhao said that investors feeling stressed should consider reducing their exposure.

“The dips are part of the free markets. Not financial advice. If you are stressed about this, you should probably reduce your investment size, “said Zhao, praising crypto as a” world vision change “.

Zhao resigned from his post as CEO of Binance in November 2023. He was succeeded by Richard Teng.