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Changpeng Zhao, founder and former CEO of cryptocurrency exchange Binance, said in a statement that he burned a significant portion of the altcoins in his public cryptocurrency wallet, as he signaled some time ago.
Zhao burned $1.95 million worth of TUT, $1.1 million worth of BROCCOLI, and $546,000 worth of another altcoin with the same name, BROCCOLI. It was also confirmed from onchain data that the tokens were sent to the burn wallet.
The former CEO had asked his followers in a statement he made a while ago if there was an easy way to burn a large number of different tokens in his cryptocurrency wallet. CZ’s wallet contained more than 109 different altcoins that cryptocurrency developers sent to attract attention.
Zhao confirmed the development in his statement after the burn. He stated that he sent some high-value altcoins in his wallet to the burn address. He said that there is an easy way to burn all his altcoins with the help of artificial intelligence, but he is not using them for now because their security has not been tested.
He added that he would burn the remaining tokens in his wallet later. Finally, he asked cryptocurrency developers not to send him more tokens to attract attention.
*This is not investment advice.
