Binance founder Changpeng Zhao, better known as CZ, responded to community discussion over his transfer of some popular meme tokens on BSC to a burn address, saying there was nothing complicated behind the move. In his statement, Zhao said he had not checked that wallet for a long time and found that it held too many tokens, numbering in the tens of thousands, when he opened it again. He said the software interface was not very user-friendly, so he first submitted feedback and then ran a test. Zhao added that, rather than sending the tokens to his own address first, it made more sense to send them directly to a “black hole” address because that cuts one step and is a more direct and effective approach. The remarks were posted in response to community questions about the transfer event.
Changpeng Zhao, or CZ, responded to community discussion over his transfer of some popular meme tokens on BSC to a burn address, saying there was nothing particularly complicated behind the move.
He said he had not looked at that wallet for a long time. When he opened it, he found there were too many tokens in it, more than 10,000, and the software display was not very user-friendly. After giving feedback, he said, he then carried out a test.
Zhao wrote: "Sending them to my address is not as good as sending them directly into a black hole. It removes one step and is more direct and effective."
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