Binance CEO Changpeng Zhao (CZ) Will Personally Provide Liquidity for Memecoin Liquidity Support Program Projects

Binance founder Changpeng Zhao (CZ) has pledged to personally provide liquidity for select projects participating in BNB Chain's Memecoin Liquidity Support Program.

Changpeng Zhao (CZ), the founder of Binance, has made a personal pledge to provide liquidity for select projects taking part in BNB Chain’s Memecoin Liquidity Support Program.

As part of this contribution, he plans to add several hundred BNB to the program. After the allocated funds are fully distributed, the program will come to an end.

This follows BNB Chain’s recent $4.4 million initiative focused on growing the meme coin sector. The program aims to support projects struggling with insufficient liquidity, a critical aspect for a token’s price stability and overall success in the market.

Announced via an X post, the program will select around 10 projects for support, and projects can apply via email.

To dispel rumors and speculations concerning transactions to his wallet, Zhao clarified that any tokens sent to the designated address should not be seen as an avenue for gaining contributions to projects or having tokens bought.

He stated that any funds sent to the designated address with expectations of a refund will not be returned. Zhao described such attempts as opportunistic and reiterated that he does not endorse any specific tokens.

Earlier this week, BNB Chain announced a new program to support meme coins with low liquidity.

The crypto exchange is known for its support of the meme coin sector, having previously launched an initiative focused on supporting women in Web3.

Moreover, rumors about the crypto exchange listing President Biden’s new coin have also been circulating online.