GIGGLE, a meme token, experienced a dramatic 50% drop on November 3, 2025, following a statement from CZ, Binance's CEO. The decline occurred after CZ clarified that GIGGLE was not associated with Giggle Academy, contradicting earlier market assumptions. This clarification led to a broader sell-off in the Binance Smart Chain (BSC) ecosystem, affecting other meme tokens such as '4' and 'Binance Life.' The initial surge in GIGGLE's value was driven by a Binance fee donation announcement, which was later undermined by CZ's statement. The incident highlighted vulnerabilities within the BSC ecosystem, as BNB and several other tokens also recorded significant losses over the 24-hour period.