Ronaldinho launches $STAR10 meme coin. Why was CZ criticized by the community after his interaction?

In the cryptocurrency market, all kinds of new currencies are emerging one after another. Recently, Brazilian football legend Ronaldinho launched his own meme coin $STAR10, which was an attempt by celebrities to enter the crypto field, but it caused strong criticism from the community due to the interaction of Binance founder Changpeng Zhao (CZ).

$STAR10 In the early stages of the issuance, the market response was mediocre. Perhaps it is because investors are wary of celebrities’ issuing coins and are tired of the possible "harvest" routine behind celebrity coins. STAR10 continued to fall after it was issued, and few people are willing to take over. Its price trend is sluggish and dull in the cryptocurrency market, without causing much trouble.

However, things changed dramatically when Binance founder CZ reposted STAR10-related content on social platform X. CZ posted that this post is not an endorsement, but only a safety reminder and disclaimer. He also emphasized that STAR10 is only exclusively issued on BNB Chain, and all the other chains are counterfeit coins. He also reminds everyone that the price of meme tokens fluctuates greatly, the transaction volume has dropped sharply, and the risks are extremely high. In addition, he stated that he has been a fan of Ronaldinho since 2005 and that BNB Chain has no commercial cooperation with Ronaldinho.

Despite CZ's explanation, his tweet still caused the price of $STAR10 to soar instantly. The currency price rose from the original US$0.22 to US$0.3975, an increase of up to 80%. This rapid price change has made the market pay attention to STAR10, and has also aroused doubts from the community.

Because Ronaldinho has a lot of knowledge in the currency circle, he has had many cases of being accused of RUG (rug pull), which makes the community already have doubts about the STAR10 he launched. Although the forwarding of CZ this time is not an endorsement, it is regarded by many users as an act of suggesting support, which is undoubtedly adding fuel to the fire.

In the community, users expressed dissatisfaction. Some people bluntly said that "I call for building a community every day, but my knowledge and action are inconsistent", believing that CZ's move violates the concept of building a healthy community that he has always advocated. Some people also accused "CZ of posting support to the Rug project party" and linked Ronaldinho's previous bad records with CZ's forwarding, feeling that CZ's behavior indirectly supported the project party in question. Some people even questioned "I mentioned ideal token economics a few days ago, but today I turned to support high-cap celebrity coins?", believing that CZ is inconsistent in terms of token attitude.

The well-known KOL in the currency circle, Laser Cat also left a message saying that Ronaldo had high control of the market and sent a lot of plates when he gave money to the project. Their way to make money was to raise the shipment. This further deepened the community's negative impression of STAR10, making everyone feel that this is another risky project.

In addition to doubts about Ronaldinho and CZ, STAR10's own token contract has also been revealed to have significant risks. Security agency GoPlus pointed out shortly after CZ's tweet that the STAR10 token may have serious security risks. The owner of the token is able to destroy any holder's token at will because the contract has not yet waived ownership, which means that all users holding STAR10's tokens may be destroyed without warning at any time.

Faced with such risks, GoPlus has given relevant suggestions. On the one hand, he wrote to Ronaldinho's team, asking them to immediately waive the ownership of the contract to ensure the safety of the community. On the other hand, traders are reminded to trade this token with caution to avoid potential risks. After the news came out, investors who were already on the wait-and-see attitude towards STAR10 were more cautious, and users who already held STAR10 were worried.

Just as the community was talking about the security of STAR10, GoPlus issued an update saying that the team has now waived ownership of the token (STAR10). From the perspective of smart contracts, this era currency seems to be no longer risk of being destroyed at will. However, this follow-up action did not completely eliminate the doubts of the community. Because the previous exposure of risks has greatly damaged the credibility of STAR10, investors' trust in it has greatly reduced.

Before the release of STAR10, there was a news in the community that Ronaldinho's X account was suspected to have been sold to the coin issuing team in Shenzhen, China for US$5 million, and emphasized that the project was a fraud. The whistleblower said they negotiated cooperation with Ronaldinho on issuing cryptocurrencies in May 2024, and signed a formal agreement in January 2025, paying a deposit of US$3 million. But Ronaldinho violated the agreement and cooperated with another Shenzhen company to collect a deposit of $5 million and promote other tokens for it. This Shenzhen company is accused of specializing in issuing valueless Meme coins, using exaggerated and false marketing methods to attract investors' funds, and then smash the market and escape in a short period of time, forming a "fast cutting model".

This revelation made the community more suspicious of the background of STAR10. Even though there is no conclusive evidence that STAR10 is directly related to the fraud in the leak, STAR10 has been labeled suspiciously in the minds of investors. After all, it is easy for celebrities to issue coins to cause trust crises, and such negative revelations have made STAR10's image in the market plummet.

From a market perspective, the issuance of STAR10 and subsequent turmoil reflect some chaos in the cryptocurrency market. Celebrities are often prone to attracting a lot of attention and funds when they are involved in the issuance of coins in the crypto field. But some celebrities may lack an in-depth understanding of cryptocurrencies, or have bad motivations, resulting in various problems with the issuance of tokens. When facing new currencies, investors in the currency circle also lack sufficient rational judgment. In this incident, the price of STAR10 soared due to the forwarding of CZ, indicating that investors will be affected by celebrity effects and the remarks of big Vs to a certain extent, and lack independent analysis of the project itself.

At the same time, the lack of regulation in the cryptocurrency market was also highlighted in this incident. There is a lack of an effective regulatory mechanism for security review of token contracts and background investigations of project parties. This allows some risky projects to easily enter the market and harm investors' interests. In the STAR10 incident, although the subsequent team gave up the contract ownership, the early risks have caused potential losses to investors, and the lack of supervision makes it difficult to effectively curb this risk in advance.

Amid the community’s criticism, the future of STAR10 is full of uncertainty. Even though the current risks at the smart contract level seem to be lifted, the market's trust in it has been damaged. Investors will be more cautious when choosing whether to continue holding or buying STAR10. For Ronaldinho, the incident also had a negative impact on his reputation. In the cryptocurrency market, credibility is one of the key factors in the success of the project. It needs to win back the trust of investors in order to make STAR10 more likely to develop further.

For CZ, the community criticism triggered by this interaction also made him need to reexamine his role and comments in the cryptocurrency market. As the founder of Binance, his every move has attracted much attention. Any behavior that may be misunderstood as supporting high-risk projects may trigger adverse reactions in the market. He needs to be clearer in his position and avoid misleading investors and damaging the healthy development of the market due to improper remarks or behaviors.