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Changpeng Zhao, CZ, a cofounder of the world’s largest crypto exchange, Binance, and its former chief executive, has retweeted an X post by a cofounder of Project Brazen, Tom Wright, about fraud master Jho Low and how meme coins were used to uncover his location and obtain important information about him.
Binance founder's new use case for meme coins
Jho Low’s case involves stealing $4.5 billion from Malaysian 1MDB fund. Besides, this expert in fraud used a false passport of an Australian citizen while he was hiding in Shanghai. All this was discovered about Low from informants who were incentivized with meme coins.
Tom Wright also claimed that Low remains “useful to the Chinese government.”
CZ then, perhaps jokingly, suggested that he could also use a meme coin to uncover those who have been paying for articles spreading FUD (fear, uncertainty, doubt) about him in such top mainstream media as Bloomberg, the Wall Street Journal and the New York Times.
Zhao previously mentioned those news giants several times, even considering filing a lawsuit against some of them: “Should we do the same to uncover who is behind (sponsoring) all the recent FUD from Bloomberg, WSJ, and NYT?” Still, in February this year, CZ tweeted that he does not intend to launch his own meme cryptocurrency, but the community did it for him. The coin was named after his dog, Broccoli.
CZ says "hold" unless you are ready to work hard
In an earlier X post today, Changpeng Zhao shared an important piece of advice with young crypto entrepreneurs or those are considering launching their own crypto projects. CZ stated that even if someone has a great idea, that alone will not make them successful.
“You can have a great idea, but ideas aren't worth much,” he wrote. It is important to execute that idea and bring it to life but it can be very hard to do: “Execution is king, but it's a lot of work.”
Still, there is a way out of this, CZ believes, for those who do not like working hard: “You can: Just hold.”
Vladislav Sopov
U.Today Editorial Team