CZ warns against buying the Golden Statue meme coin after a 27,000% surge, which led to a 99% price collapse.
Changpeng Zhao (CZ), founder of Binance, has distanced himself from the newly launched meme coin “CZSTATUE.” The token, created in his honor, surged by 27,000% before collapsing almost entirely.
CZ has publicly warned investors not to buy the coin, calling it a “money grab” and a project with questionable intentions.
CZSTATUE Surges Before Collapsing
The CZSTATUE meme coin, launched on the BNB Chain, saw a massive surge after its introduction.
Within hours, the token skyrocketed by 27,000%, reaching a market cap of $6.8 million and generating $20 million in trading volume. Despite this impressive initial growth, the coin quickly lost 99% of its value, plunging from a $5.1 million valuation to nearly zero.
CZ publicly warned about the coin’s speculative nature. He stated that while he appreciated the gesture, the project was created to make quick money rather than as a sincere tribute. His comments came after the coin began gaining significant attention on decentralized exchanges.
The coin’s rapid rise and fall raised concerns about the token’s distribution. It was noted that more than 15% of the coin’s total supply was held by a newly created wallet. This has led to speculation about possible insider manipulation or flawed tokenomics.
CZ Disowns Meme Coin and Criticizes Ego
In a post on X, Changpeng Zhao disowned the meme coin, stating that it reflected ego rather than admiration.
He pointed out the absurdity of having a statue or wearing a T-shirt with his own face on it. Zhao expressed that such actions showed more about the creator’s ego than any genuine respect for him.
While I want to appreciate the gesture, the fact that there is a meme coin associated with this means the creator probably just wanted to make a quick buck off an interaction from me. This is something I don't appreciate. Don't buy the meme.
I would also never accept a statue of… https://t.co/GLmBgxqP6C
— CZ 🔶 BNB (@cz_binance) October 29, 2025
Zhao’s warning against the meme coin did not deter speculative trading, which remained strong despite his disapproval. This led to even more volatility in the coin’s price. The token quickly gained traction among retail investors, many of whom likely disregarded Zhao’s comments.
Although some found humor in the situation, others took the coin’s rise as a sign of Binance’s influence. Zhao’s name and legacy are closely linked to the meme coin’s creation, even though he publicly rejected the project.
The Rise of BNB Chain Meme Coins
The release of CZSTATUE coincided with a broader surge in BNB Chain meme coins.
Earlier in the month, Binance praised the creativity of the BNB community, which led to a rise in meme coins on the network. This growing trend has also fueled the popularity of other meme coins, such as GIGGLE, which saw over a 700% increase in value.
GIGGLE, a meme coin tied to Zhao’s charitable Giggle Academy, raised $5.5 million through trading fees. These funds were used for educational programs, showcasing how meme coins can be used for charitable causes.
Despite this, the speculative nature of these projects remains concerning to some investors.
The broader rally across BNB Chain meme coins, including CZSTATUE, reflects growing interest but also highlights potential risks. Retail investors are flocking to these tokens, but without clear use cases or value propositions, they remain highly speculative.
