The post Meme Coin Gamble: Whale’s $2.5M Bet appeared on BitcoinEthereumNews.com.

A whale invested $2.54M in two meme coins linked to CZ’s dog. One coin gained $530.5K (+24.7%), while the other dropped $302.4K (-68.1%). Binance CEO CZ addresses criticism on meme coin speculation. A crypto whale just experienced mixed results after investing $2.54 million into two meme coins named after Binance former CEO Changpeng Zhao’s (CZ) dog, Broccoli. Turns out, it was a bit of a gamble. While one token surged, netting $530.5K in profit (+24.7%), the other tanked, suffering a $302.4K loss (-68.1%). This investment spree happened as criticism of CZ’s stance on meme coins grows, sparking a lively debate within the BNB Chain community about meme projects’ role in crypto. Community Backlash and CZ’s “Feedback Received” Not long ago, a user accused CZ of playing a “guessing game” on Binance Smart Chain (BSC), arguing that meme coin trends on the chain were becoming “on-chain massacres” rather than genuine ecosystem growth.  Responding to this directly, CZ admitted he wanted to boost activity on BSC but is skeptical of launching or running a meme coin himself. “I have zero experience in meme coins and thought they were community-driven. But feedback received,” he stated. Related: BNB Price Surge: Technical Setup & CZ’s Memecoin Tease Spark Rally Talk While some appreciated CZ’s openness, others remained unconvinced. A BNB member made the point that meme coins lead to scams, greed, and mass investor losses. “Memes aren’t community-driven; they’re greed-driven. We need utility-based projects, not more rugs,” the user remarked. BSC’s Path Forward – Utility & Innovation, Not Just Hype On the other hand, another user took an optimistic view, suggesting that BSC should learn from Solana’s approach of strategically promoting projects to create a wealth effect, but with a crucial difference.  Their argument was that BSC should focus on projects with fair tokenomics and…

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Filed under: News - @ February 14, 2025 7:27 am