Former Binance CEO Changpeng ‘CZ’ Zhao has publicly distanced himself from the fast-rising TST token. However, the token has continued to blow up despite the denial of involvement from Zhao and the BNB team.
The clarification was needed because the project had used the Binance logo, a trademark of the company. According to CZ, the project is using the logo without the knowledge of the company or anybody associated with it.
CZ denies ties with TST token
The TST token became popular after a member of the BNB Chain created a video showing the public how to launch a token on the four.meme platform. In the video, the instructor created the TST token, which was never intended to be traded by the public. However, after the video, the token’s market cap rose steadily to $41M before steadying at $10M.
The tutorial has since been deleted, with CZ and the team claiming that they never intended to make it an official project of the company. According to LookOnChain, one of the early buyers of the token is currently sitting on a profit worth $2 million. CZ took to X, making the post in Chinese because it felt that most traders were from the region, to tell users that Binance had no connections to the token.
CZ warns TST creators about trademark infringement
CZ also mentioned that he just discovered that the token now has a website and social media where the developers used Binance’s logo. “I just heard that TST already has a website and an X account. As far as I know, neither of them is made or controlled by BNB Chain or any Binance-related team. It is controlled by someone in the community. I don’t know who it is,” CZ said.
CZ also used the medium to sound a warning to the developers, warning them about the adoption of the Binance logo. He mentioned that the token needs to stop exploiting the connection and stop misleading the public. He also added that he has no investment in the token as he doesn’t buy meme coins. “Like all meme coins, I have never bought and do not own TST. Now it is a completely community behavior. Please protect yourself and be responsible for your actions,” he said.
Token’s driven by the community usually follow this approach, using the hype from popular individuals and brands to drive growth. Although it fosters innovation, it poses great risk to the public and the brands they are representing. A typical example is the Hackathon G-AI that used Solana’s logo without express approval from the platform. The same thing is happening with Binance and the TST token.