DeFi 'Godfather' Andre Cronje urges CZ to fairly launch his dog meme coin to avoid community rug pull
Cronje stated that scammers could easily create counterfeit tokens, misleading investors and potentially leading to huge financial losses.
Key Takeaways
- Andre Cronje warned CZ about potential scams linked to launching a dog-themed meme coin.
- CZ's hint at a new meme coin has already increased dog-themed token activity on BNB Chain.
Share this article
Andre Cronje, known as the DeFi ‘Godfather,’ warned Binance CEO Changpeng “CZ” Zhao against teasing a potential dog-themed meme coin launch, stressing that it could lead to scams targeting his crypto community. The founder of Sonic Labs urged CZ to fairly launch the project if that’s his plan.
“…if you do this, just launch the CA and share instead, otherwise you will indirectly rug so much of your community. People will deploy tens if not hundreds of contracts and scam your followers. Just launch a fair one yourself,” Cronje said in response to CZ’s announcement about sharing a dog photo.
The warning came after CZ revealed he was considering launching a meme coin inspired by his Belgian Malinois dog on Wednesday. The token might interact with other meme coins on the BNB Chain. Earlier today, CZ
CZ’s announcement about posting a “dog pic” also sparked debate over responsible project promotion in the crypto space.
Community members expressed concern that individuals with knowledge of CZ’s dog’s name could potentially profit from advance information before a public reveal, while others might invest in fraudulent tokens hoping for returns.
This came after CZ shared an educational video about BNB Chain, which demonstrated how to launch a meme token on the four.meme platform. The video inadvertently revealed the ticker for the TST token, leading to a surge in its market cap, which reached $52 million following CZ’s post.
According to CZ, TST is not an official token on the BNB Chain.
Share this article
