Changpeng Zhao, the CEO of Binance, has warned investors against getting into certain meme coins that claim to be supported by him.
CZ recently took to Twitter to inform his followers that some Twitter accounts are trying to take advantage of his attention and reputation by selling their accounts and launching their own meme coins under the guise of being “supported by CZ.”
Meme coins have become increasingly popular in the cryptocurrency world, especially after Elon Musk’s endorsement of Dogecoin.
Other meme coins that have gained popularity include Shiba Inu and BabyDoge. However, CZ did not name any particular meme coins in his warning.
CZ’s warning comes after he randomly followed some Twitter accounts that replied to his tweet about his plans for Binance this year.
It was later discovered that the owners of these Twitter handles were selling them, and the buyers were using them to launch their own meme coins.
