Binance founder and former CEO Changpeng Zhao (CZ) caused an unexpected market movement after a sharing about Test Token TST. Thanks to this development, an investor earned up to 1,900 %.
How did Binance CZ share affect the TST price?
The incident began with Four.Mam, introduced as the first Fair Breast Coin Launch Platform on Binance Smart Chain (BSC). The BNB team has published a training video about creating a breast coin on this platform. However, this video led to the unexpected value of the TST token TST.
CZ, Social Media Platform X (Twitter) said in a statement, this incident was completely accidental, he said. In the removed training video, he explained that the TST token was created as an example. After that, Chinese crypto investors began to process this token by noticing.
CZ emphasized that he or Binance team did not hold this token:
This Token was not approved by me. No one from Bnb Chain team or Binance has this token. This is a test token only for video training.
However, although the special key of the wallet where the video was created was deleted, investors continued to speculation and TST’s market value reached $ 500,000 over hours.
An investor made 1,900 %
Crypto analyst AI examined a remarkable operation just before CZ’s tweet. 0xEBB… 74711C wallets with an investor, CZ’s sharing only minutes before the TST $ 35,000 TST purchased. After the CZ’s sharing, the price of the token raised rapidly, the investor’s assets reached $ 657,000 and earned 1.885 %.
Speculation began to see whether this process is based on coincidence or information from inside. Analyst Ai said that the investor could be lucky or intelligent:
The investor with 0xEBB… 74711c has purchased 35,000 dollars of TST five minutes before the CZ’s tweet and currently has an asset worth $ 657,000. This rate corresponds to a gain of 1.885 %. After CZ’s sharing, he added 2 more BNB and is currently the largest wallet. A really impressive chance.
Following this event, a crypto users named 0xun, this wallet may be connected to one of the Binance Chain team. This claim increased the doubts that transactions were made using information from inside.
On the other hand, a market expert named Elliot’s Crypto, the Binance community evaluated this situation and the purchase of the tokens further increased the price, he said.
Increased regulation pressure on breast coin launch platforms
Following the TST incident, regulatory investigations for breast coin launch platforms such as Four.mem also increased. Such platforms ensure that new tokens can be easily created and fueled speculation in the market.
According to the Terminal data, the market value of TST is currently $ 15.1 million. However, as investors turn to profit sales, fluctuations continue in price movements.
This event once again revealed the impact of sector leaders such as CZ in the crypto market. Even a simple sharing can greatly affect prices and show how volatile the market is.
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