Binance founder's attempt to clarify his stance on Ronaldinho's token backfires, as crypto traders slam him for even mentioning the controversial token.

What was supposed to be a simple “disclaimer” has sparked a full-blown controversy, with Binance founder Changpeng Zhao now in the hot water over a new token launched by Ronaldinho Gaúcho

Changpeng Zhao, the founder of Binance, has landed in hot water after attempting to clarify his stance on a new token launched by former Brazilian soccer star Ronaldinho Gaúcho.

The issue arose when Zhao tried to make a brief disclaimer about the new token, named STAR10, in a post on X. But his attempt backfired, as crypto traders slammed him for even mentioning the controversial token.

The post began with Zhao commenting on a post by a crypto trader, who claimed that several decentralized exchanges (DEX) had launched copycat tokens after the success of the Binance-issued tokens.

“Several DEXes launched copycat tokens after Binance issued them. E.g., ATOM on Binance Chain is different from ATOM on other chains. Please beware of scammers,” the trader wrote.

To this, Zhao replied that the Binance tokens were launched first, adding that the exchange’s tokens are “new and the only official ones.”

“The tokens on other chains are fake. They copy the name and token id to scam users. E.g., @10Ronaldinho's STAR10 coin was launched on BNB Chain EXCLUSIVELY. Other chains’ coins are fake. Beware of scammers.”

Zhao also added that he had been a fan of Ronaldinho since 2005, but there are “no commercial relationships between BNB Chain (or any of our affiliates) and Ronaldinho.”

However, Zhao’s post quickly sparked backlash, with many finding it ironic that the Binance founder felt the need to make a disclaimer.

“This post is NOT an endorsement. It’s a security reminder and disclaimer,” Zhao said in the post.

But the crypto community wasn’t having it.

“Better stay silent and let the market do its own thing,” one user said, responding to the post with skepticism. Another added: “NOT an endorsement but you talking about it, it’s enough to mention that and is already an endorsement! Better stay silent and let the market do its own thing!”

Many also slammed Zhao for mentioning the token despite the disclaimer, with critics stating that he should’ve kept quiet to avoid any potential issues.

“You know exactly what you’re doing and the effects of it bro. Stop trying to fake innocence by adding a few lines like ‘this is not an endorsement.’ End of the day you’re just trying to bring more volume back to bsc without regard that these celebs will probably rug buyers in the process,” one user wrote.

Another added: “You’re losing tons of respect with this post CZ. @10Ronaldinho has rugged users in the past. Gloating about this is just wrong, you’re better than that (at least I thought you were).”

The STAR10 token itself had also already sparked controversy even before the insider trading allegations. Many traders expressed skepticism towards the new token, noting that celebrity-endorsed tokens are often seen as cash grabs or attempts to capitalize on fame without any real utility.

“Many still remember Ronaldinho’s previous involvement with high-risk crypto projects, some of which had disastrous outcomes.”

Ronaldinho’s crypto history appears to be pretty messy. Back in June 2024, he hinted at making a comeback, saying it was time for crypto to “go mainstream.” But not everyone was convinced.

Well-known crypto investigator ZachXBT quickly pointed out that Ronaldinho had backed several questionable projects, including World Cup Inu and Lord Society NFT, which had turned into pump-and-dump schemes. He also promoted meme coins like WATER and Baby Doge, raising even more doubts.

But the most controversial chapter in his crypto career came in September 2023, when Ronaldinho was linked to the “18kRonaldinho” project, which was accused of operating a pyramid scheme. Ronaldinho quickly denied the allegations.

The soccer legend claimed that he had been unfairly implicated and the company exploited his public image without permission. He also stated he had agreed only to endorse a watch collection by 18k Watchs, but he never authorized using his name and image to sell or promote cryptocurrencies. The project falsely promised investors daily returns of 2% and had used his likeness to build credibility.