Binance’s Zhao Sparks Speculation with Suggestion to Burn Altcoins in Public Wallet

Changpeng Zhao, the founder of Binance, recently sparked a wave of speculation in the crypto community after hinting at the possibility of burning all the altcoins in his public wallet.

Zhao posed a question on social media asking if there was a quick way to burn all the tokens in a Binance Smart Chain (BSC) address, which led to widespread curiosity about his intentions with these assets.

It’s essential to clarify that Zhao did not personally purchase most of these tokens. Instead, many were sent to his wallet by altcoin developers seeking to garner attention for their projects.

In response to a suggestion that he send these tokens to a burn address, Zhao noted that his wallet contains over 100 different altcoins, making the idea of manually sending them one by one to a burn address a tedious task.

READ MORE:

Is the U.S. Government Quietly Selling Bitcoin?

Zhao’s public wallet is known to hold a diverse mix of assets, including meme tokens and obscure altcoins, with some of the more notable holdings having considerable value. The largest holdings in his wallet include:

• HOLD – $1.79 million
• BROCCOLI – $1.73 million
• Binance Coin (BNB) – $1.07 million
• MUBARAKAH – $654.06 thousand
• QUQ – $148.82 thousand
• SIREN-2 (SIREN) – $59.72 thousand

Other tokens in his portfolio include smaller amounts of various lesser-known assets, like BNBXBT, GOUT, and BANANA, with the overall total adding up to a wide range of altcoins.

The question now is whether Zhao’s comment hints at a future move involving these altcoins or if it’s simply a passing remark in a light-hearted conversation. Either way, it has definitely caught the attention of the crypto world, leading to further speculation on the impact such a decision could have.

Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.