Binance founder Changpeng Zhao, better known as CZ, responded on Sept. 20 to crypto KOL Jasmy, saying, 「通过 Meme 收购上市公司的主意肯定不是我本人想出来的」, or that the idea of acquiring listed companies through meme coins was definitely not something he came up with. The reply drew added attention because Jasmy’s posts on X this week were all centered on GSTOCK, with nine separate calls related to the token.
According to GMGN market data cited by BlockBeats, GSTOCK had just reached a new all-time high, with its market capitalization standing at $20.74 million after having been below $7 million earlier in the morning. The report also said GSTOCK is paired in its liquidity pool with BNCB, the onchain token of BNB treasury company BNC.
BlockBeats further noted that Genius Terminal, an onchain trading terminal backed by YZi Labs and advised by CZ, had previously launched its token issuance platform, genius. fun, on BNB Chain. The platform supports creators in transferring tokenized stocks such as bSTOCKS into ownerless foundations and unwrapping them in an attempt to exercise equity-related rights off-chain. BlockBeats cautioned that price swings in related tokens are large and that users should be careful with investments.
Binance founder Changpeng Zhao, better known as CZ, responded on Sept. 20 to crypto KOL Jasmy and said, "The idea of using meme coins to acquire publicly listed companies definitely did not come from me."
That response landed after Jasmy spent the week posting about GSTOCK on X, making nine separate calls tied to the token.
GSTOCK reaches a new high
GMGN market data, as cited by BlockBeats, showed GSTOCK had just hit a fresh all-time high. Its market capitalization was listed at $20.74 million, after dropping below $7 million earlier that morning.
Pool pairing and platform details
GSTOCK’s liquidity pool is paired with BNCB, the onchain token of BNB treasury company BNC.
BlockBeats also reported that Genius Terminal, an onchain trading terminal backed by YZi Labs and advised by CZ, had earlier rolled out its token issuance platform, genius. fun, on BNB Chain. The platform lets creators move tokenized stocks such as bSTOCKS into ownerless foundations and unwrap them, then try to exercise equity-related rights off-chain.
BlockBeats warned that the related tokens may experience sharp price volatility and said users should stay cautious with investments.
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