A collection of memes from memecoins forming an art work
Binance former CEO Changpeng “CZ” Zhao has warned his followers not to buy memecoins based on his random X posts. However, the warning didn’t seem to pass the message he intended based on the responses from the community.
CZ with over 10 million users said those who invest based on his random X posts are almost sure to lose money as such posts don’t necessarily mean he recommends or endorses the projects, even though he’s not against memecoins.
CZ Warns of Losing Money with Memecoins
Memecoins like Dogecoin and Shiba Inu have brought huge gains to early investors in the past years, especially in 2021 which is unofficially referred to as the year of memecoins. The top memecoins exploded that year, multiplying investments hundreds of times. Because of this past history, investors still look forward to such rewards with newer projects.
However, the new memecoin projects have been mostly disappointing as most of them are either outright scams or lack solid backing, hence they are not able to last long enough to bring any gains. Even with the current proliferation, only a tiny fraction of them make it to launch, making them particularly risky.
Moreover, memecoins are known to be highly volatile because they are driven mostly by sentiment and hype rather than by any real utility that gives them real value. Therefore they can easily crash to phenomenal lows, causing investors to lose almost everything at once.
Interestingly, CZ’s followers seem undeterred by the warning he gave, and are still looking forward to buying memecoins recommended by the crypto mogul, as some are still asking him which projects to invest in.
CZ Supports Meme Community?
Although he had warned against buying memecoins based on his recommendations, CZ mainatains that he loves memes and is not against memecoins. Meanwhile, he also added that he was supporting the memeccoins, even though he quickly deleted the post.

Apparently, he has also been favorable towards some memecoin projects which probably misled some of his followers to “ape” into such projects, leading to some losses. He recently predicted a crypto supercycle as the Securities and Exchange Commission (SEC) eased stance on crypto regulation.
More Must-Reads:
How do you rate this article?
Subscribe to our YouTube channel for crypto market insights and educational videos.
Join our Socials
Briefly, clearly and without noise – get the most important crypto news and market insights first.
Most Read Today
Samsung crushes Apple with over 700 million more smartphones shipped in a decade
2Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008
3Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims
4XRP Whales Buy The Dip While Price Goes Nowhere
5Luxury Meets Hash Power: This $40K Watch Actually Mines Bitcoin
Latest
Most Read Today
MOST ENGAGING
Also read
Similar stories you might like.