In a recent announcement, Changpeng Zhao, the founder and former CEO of Binance, disclosed that he has received over $1 million in refunds linked to a previous donation wallet. Zhao has committed to not using these funds for personal gain and is actively seeking suggestions from the community on how to best allocate them. He shared that the money will be directed towards winners of the Binance Memecoin Liquidity Support Program, generating considerable excitement among the memecoin ecosystem.
How is Zhao Supporting Memecoin Projects?
Zhao informed the public through social media that a portion of the funds from his donation wallet will be funneled into providing liquidity for successful memecoin projects as part of the Binance Memecoin Liquidity Support Program. This program is structured to enhance liquidity for select memecoins on a weekly basis, which is viewed as a significant boost for these projects.
What Does the Liquidity Support Program Entail?
Launched on February 18, 2025, the Binance Memecoin Liquidity Support Program aims to promote the success of promising memecoin projects through liquidity assistance. Projects are assessed based on various criteria, including market cap and trading volume, to determine which will receive the much-needed support.
- Broccoli (f3b) has emerged as the top beneficiary, receiving $500,000.
- KOMA and SIREN were awarded $400,000 each.
- Other projects like BANANA, PERRY, and TST secured $300,000.
- Several additional projects received $200,000 in liquidity support.
The community’s response to Zhao’s initiatives indicates strong support for the memecoin market, with many optimistic about the potential for increased trading stability and market growth through the newly allocated liquidity resources.
