Binance founder Changpeng Zhao, better known as CZ, said on Aug. 16 that he plans to stop using one of his public blockchain addresses after repeated wallet activity drew heavy scrutiny from the community. According to his statement, he was testing Trust Wallet and found the wallet filled with so many meme tokens that even BNB was hard to locate. He then tried to burn some of those tokens, but said that move also triggered fresh discussion around what the transaction might mean.
CZ said the address could never really be cleaned up because burning more tokens would likely attract even more token transfers into the same wallet. He added that blockchain transparency means any movement tied to the address is prone to over-interpretation. He had even considered asking the Trust Wallet team to add an "Ignore Coin" feature to prevent the interface from being cluttered, though he said 99.99% of users would not need it.
Under his plan, the BNB in the address, along with "Binance Life" tokens bought with BNB, will be donated to Giggle Academy. After that, he said he will stop using the address and let it become a burn address.
Binance founder Changpeng Zhao, or CZ, said on Aug. 16 that he will stop using a public address after its on-chain activity kept being over-interpreted by the community.
In his statement, CZ said too many people were trying to read into every move and ask what each action was supposed to signal. While testing Trust Wallet, he found that the wallet held so many meme tokens that even BNB was difficult to find, so he tried to burn some of those tokens. That action, he said, still sparked a wave of community discussion.
CZ said he came to realize that he would never be able to fully clear the meme tokens from that address. The more he burned, the more people would send tokens to it. Because blockchain activity is transparent, any transaction involving the address could end up being heavily interpreted by observers.
He also said he had considered asking the Trust Wallet team to add an "Ignore Coin" feature so the wallet interface would not be crowded with unwanted tokens, but added that 99.99% of users would have no need for such a tool.
Under the plan he described, he will donate the BNB in the wallet, along with the "Binance Life" tokens purchased with BNB, to Giggle Academy. He said he will then stop using the address and let it become a burn address.
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