A four-meter-tall golden statue of Binance founder Changpeng Zhao is set to be unveiled outside the US Capitol on Wednesday, following his recent presidential pardon. The project, funded by an anonymous collective with $50,000, coincides with the launch of a related meme token, CZSTATUE, on the BNB Chain, which has reached a valuation of $577,000.
The statue, depicting Zhao's signature four-finger gesture, was created by a CNC printing machine over four weeks. It will be displayed publicly for several hours before being presented to Zhao or auctioned to benefit Giggle Academy, a nonprofit Zhao established. Despite the project's ties to Zhao, Binance has denied any official connection.
The launch of the CZSTATUE token has raised transparency concerns, with reports of unusual trading patterns linked to Zhao's pardon. A crypto analyst highlighted a mysterious whale wallet that profited significantly from the token, suggesting potential insider knowledge. The token's market cap far exceeds the statue's production cost, underscoring the financial significance of the token issuance. This event follows a trend of meme tokens linked to political events, which may attract regulatory scrutiny.
Anonymous Funders Back CZ Statue and Meme Token Amid Pardon Controversy
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