TLDR
- CZ’s burn of 4,444 Marscoin tokens triggered a speculative rush that pushed one clone’s market value from about $40,000 to $30 million.
- One wallet turned a 16 BNB entry into a 29x return after recovering its initial stake and selling the remaining tokens for 465 BNB.
- Another trader entered late with 133,000 USDT and lost roughly $110,700 after Marscoin crashed more than 90%.
- CZ said the burns were routine wallet cleanup, not trading signals, after spam tokens crowded his public BNB Chain address.
- Zhao later moved legitimate assets to Giggle Academy and abandoned the wallet, effectively turning it into a permanent burn address.
A routine wallet cleanup by Binance founder Changpeng Zhao triggered a memecoin rally on BNB Chain before prices collapsed. The phrase Changpeng Zhao stock does not describe the asset involved, because the activity centered on third-party tokens rather than a listed CZ-related stock.
Onchain data shared by Lookonchain showed that traders reacted within seconds after Zhao burned 4,444 Marscoin tokens from his address. One unofficial Marscoin clone jumped from a market value near $40,000 to about $30 million before falling back toward $5.26 million.
This trader made $282K in just a few hours — a 29x return — by monitoring CZ's wallet!
How did he do it?
1/ Here's his strategy.👇 pic.twitter.com/UcUWXPNJPV
— Lookonchain (@lookonchain) August 17, 2026
The legitimate version traded on Binance Alpha stayed stable while the clone surged. The move recalled past cases where traders treated high-profile wallet transfers as signals, including attention around Vitalik Buterin’s 2021 SHIB token burn, although Zhao’s action had a different purpose.
Changpeng Zhao’s Stock and the Token Burn Frenzy
The rally began after Zhao burned 4,444 tokens from two unrelated projects while testing Trust Wallet and clearing spam assets. Traders treated the transactions as possible signals and rushed into tokens linked to the wallet activity.
Zhao later said the burns had no promotional purpose. He explained that spam tokens made it harder to locate his BNB balance, so he used the wallet cleanup process to remove unwanted assets.
Lookonchain tracked one wallet that spent 16 BNB, worth about $9,645, plus $10 in gas fees to buy 84.61 million Marscoin tokens. The purchase came seconds after Zhao’s burn.
The trader sold 42.3 million tokens for 16.4 BNB, recovering the original stake. The wallet later sold the remaining 42.3 million tokens for 465 BNB, worth about $282,000, producing a 29x return.
Another Wallet Loses $110,700 in Two Hours
A separate wallet entered after the rally had already accelerated. It spent 133,000 USDT to buy 6.15 million Marscoin tokens after traders noticed Zhao’s activity.
When Zhao said he would stop using the public address, Marscoin fell more than 90%. The wallet sold its position for about 22,400 USDT, leaving a loss near $110,700 within roughly two hours.
Zhao said continued burns could attract even more spam because token creators might send assets to the watched address for attention. He wrote that each cleanup risked creating another round of speculation.
He moved his legitimate BNB holdings and related assets to Giggle Academy, his education-focused charity. Zhao then said he would stop using the wallet, effectively turning it into a permanent burn address where future tokens sent by promoters cannot be withdrawn.
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