A test meme coin (TST) created for a tutorial on the Four.Meme platform experienced an unexpected surge in value following a social media post by former Binance CEO Changpeng Zhao, popularly known as CZ.
The token, originally intended as a demonstration asset on the BNB Chain, saw its market cap skyrocket as traders and influencers turned it into a fully functional cryptocurrency.
Accidental Launch
According to an X post from Zhao, the meme coin’s name was briefly visible in a single frame of the training video. After realizing it had been exposed, the team removed the video from the web. However, by then, it had already been spread across the internet.
The video and the token soon caught the eye of several Chinese crypto influencers, with their endorsements creating further interest and attracting more traders. What had started as a simple test asset quickly transformed into a fully tradable coin.
Zhao has since clarified that neither he nor Binance endorsed the coin, stating:
“This is NOT an official token by the BNB Chain team, or anyone. It is a test token used just for that video tutorial. Nothing more.”
He added that a team member had also deleted the private key for the creator address used in the tutorial, which contained 0.13% of the token supply. He further stated that no one on the training team or at Binance held any of the cryptocurrency.
Despite this, the former executive suggested restoring the instruction video while also encouraging the community by commenting, “Happy trading.”
TST’s Meteoric Rise
According to DEX Screener data, TST, which initially held a valuation of just under $500,000, saw its fully diluted value surge beyond $25 million. Eager traders drove its market cap past $37 million, with its liquidity reaching $4.5 million.
As the coin continued gaining traction, it was listed on PancakeSwap. Shortly after, it was also added to the MEXC exchange, where its price fluctuated between $0.02 and $0.04. Early investors also made substantial profits, with one trader reportedly earning $303,600 from sales and another securing $258,200.
The rapid rise of the meme coin shows the intense demand for this asset class. However, despite their popularity, they have faced growing scrutiny in recent weeks. Pump.fun is currently the subject of a proposed class-action lawsuit from investors alleging it marketed and sold unregistered securities.
Additionally, the launch of a Trump-themed meme coin in January also caused controversy within the industry. Mark Cuban criticized the initiative as a setback for crypto’s legitimacy, arguing that it weakens ownership and fuels speculation.
Senator Elizabeth Warren also called for an investigation into the Trump token, citing concerns over ethics, foreign influence, and regulatory oversight.
Read the full article here