Changpeng Zhao has stopped using a public crypto wallet.

Changpeng Zhao, co-founder of Binance, the largest crypto exchange, announced that he will no longer use his public crypto wallet, Trust Wallet, due to manipulation in the memecoin market. While testing Trust Wallet, Zhao discovered a large number of memecoins on it and began gradually burning them. However, the entrepreneur lamented that this attracted increased attention from the crypto community. He complained that it was impossible to completely clear the address of coins: the more tokens he burned, the more new assets unknown people sent to this wallet. Zhao recalled that the transparency of the blockchain allows anyone to track transactions, and because of this, members of the crypto community try to find hidden meaning in almost every movement of funds, although there may be none. Binance's main owner announced that he had decided to transfer BNB and 币安人生 tokens from his wallet to Giggle Academy, a non-profit online platform for free education for children. Zhao declared his publicly accessible crypto wallet a burn address—any assets sent there will be permanently locked and removed from circulation. Earlier, Changpeng Zhao appealed to his 10 million followers not to invest in memecoins created based on his social media posts and jokes.