Binance News: CZ’s BNB Donation Fuels Excitement in Meme Coin Liquidity Program

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On February 22, Binance former CEO changpeng zhao

information

changpeng zhao Changpeng Zhao is the Founder and Chief Executive Officer at Binance. His contribution to the enhancement of Binance made the platform the world’s largest cryptocurrency exchange since its inception in 2017. Zhao launched the blockchain network Binance Smart Chain which has made a remarkable contribution to the development of the decentralized finance ecosystem. Whereas in 2019, he launched Binance’s US affiliate, Binance. The US. Details: Organization: Binance Location: United Arab Emirates Skills: Trading System and Electronic Trading Experience: CEO at Binance from Jul 2017 to Nov 2023 · Founder at BijieTech from Sep 2015 to Jul 2017  Head of Development at Blockchain.com from 2013 – 2014 · Partner at Fusion Systems Group  from Nov 2005 to Dec 2013  Head of Tradebook Futures Development at Bloomberg from 2001 – 2005  FAQ 1. What is the net worth of Changpeng Zhao?  Changpeng’s net worth is $6,260 crores. 2. What are the latest investments of  Changpeng Zhao? Changpeng Zhao investing in the blockchain sector as well as artificial intelligence and biotechnology   EntrepreneurInvestorChief Executive Officer

posted that an address, which had been used by him to donate $100K, received more than $1m back. Clarifying that he had no plan to keep any of the received tokens for himself, he invited suggestions on what should be done with them.

Today, in an X post, CZ states that he will add a few hundred BNB in liquidity from the controversial address to the weekly winners of Binance’s Liquidity Pool Support Program for Meme Coins until no funds are left. The announcement has triggered excitement in the cryptocurrency community.

Meme coin enthusiasts think that the proposed action will lead to the emergence of successful meme coin projects. Here is everything you should know! 

CZ Pledges Personal BNB Support 

In a post on X, Changpeng Zhao, popularly known as CZ, announces that he will add a few hundred BNB in liquidity from the aforementioned address to the weekly winners of Binance’s Liquidity Pool Support Program for Meme Coins. 

The announcement has triggered enthusiasm in the crypto community. Several meme coin enthusiasts have expressed their excitement about the decision using their X handles. 

In one such X post, aiCHANCHO notes that CZ’s direct support and the increased funding are likely to have a significant impact on the meme coin ecosystem on the BNB Chain. 

BNB Chain’s Meme Liquidity Support Program  

It was on February 18 that Binance officially launched its Liquidity Pool Support Program for Meme Coins. The program aims to help good meme coin projects grow and become more popular. As part of the program, Binance organises daily and weekly competitions. Winners are determined based on Market Cap Rank, Price Increase Rank and Trading Volume Rank. What winners receive is liquidity support from the BNB Chain Foundation. Importantly, this added liquidity stays there permanently. 

Liquidity is very important for any meme coin. It makes it easier to buy and sell, which helps the price stay stable. 

Weekly Winners of Binance’s Meme Liquidity Support Program 

Yesterday, Binance announced the winners of Round 1 of the Meme Coin $4.4 M Liquidity Support Program. 

  • Broccoli(f3b) emerged in the TIER1 position and received liquidity support of up to $500,000. 
  • KOMA and SIREN grabbed the TIER 2 position, and secured $400,000 each. 
  • BANANA, PERRY and TST, secured the TIER 3 position, and were rewarded with liquidity support of $300,000 each. 
  • Meanwhile, 4, Broccoli(714), Broccoli(f2b) TUT won the TIER 4 position, and were awarded $200,000 each. 

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