Binance News: CZ to Inject $1M BNB into Meme Coin Liquidity Program

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The post Binance News: CZ to Inject $1M BNB into Meme Coin Liquidity Program appeared first on Coinpedia Fintech News

On February 22, Binance’s former CEO changpeng zhao information changpeng zhao Changpeng Zhao is the Founder and Chief Executive Officer at Binance. His contribution to the enhancement of Binance made the platform the world’s largest cryptocurrency exchange since its inception in 2017. Zhao launched the blockchain network Binance Smart Chain which has made a remarkable contribution to the development of the decentralized finance ecosystem. Whereas in 2019, he launched Binance’s US affiliate, Binance. The US. Details: Organization: Binance Location: United Arab Emirates Skills: Trading System and Electronic Trading Experience: CEO at Binance from Jul 2017 to Nov 2023 · Founder at BijieTech from Sep 2015 to Jul 2017 Head of Development at Blockchain.com from 2013 - 2014 · Partner at Fusion Systems Group from Nov 2005 to Dec 2013 Head of Tradebook Futures Development at Bloomberg from 2001 - 2005 FAQ 1. What is the net worth of Changpeng Zhao? Changpeng's net worth is $6,260 crores. 2. What are the latest investments of Changpeng Zhao? Changpeng Zhao investing in the blockchain sector as well as artificial intelligence and biotechnology EntrepreneurInvestorChief Executive Officer (CZ) shared that an address he had used to donate $100,000 had unexpectedly received over $1 million in return. Making it clear that he had no intention of keeping the funds, he asked the community for suggestions on what to do with them.

Now, he’s made his decision. In a move that has meme coin enthusiasts buzzing with excitement, CZ announced he will inject these funds into Binance’s Meme Coin Liquidity Support Program.

This could be a game-changer for meme coins on BNB Chain—but how will it work, and what does it mean for the market? Let’s dive in.

CZ’s Plan: Supporting Meme Coin Liquidity

In a new X post, CZ announced that he would use part of the funds to add a few hundred BNB in liquidity to the weekly winners of Binance’s Liquidity Pool Support Program for Meme Coins. He plans to continue doing this until all the funds are used up.

https://twitter.com/cz_binance/status/1895548252587770057

This announcement has excited the crypto community, especially meme coin supporters, who believe it could help boost promising projects.

https://twitter.com/ApeWorldSol/status/1895660024610898249

Binance’s Meme Coin Liquidity Program: How It Works

Binance launched its Liquidity Pool Support Program for Meme Coins on February 18 to help good meme coin projects grow and gain popularity. The program holds daily and weekly competitions, where winners are chosen based on:

Market Cap Rank
Price Increase Rank
Trading Volume Rank

Winners receive liquidity support from the BNB Chain Foundation, and the added liquidity remains in the ecosystem permanently. This is crucial for meme coins, as it makes buying and selling easier while helping to stabilize prices.

CZ’s move has been met with enthusiasm from traders and meme coin supporters. Many users on X have shared their excitement about its potential impact on the market.

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Weekly Winners of Binance’s Meme Liquidity Support Program

Binance has revealed the first round of winners from its $4.4 million liquidity support initiative. Here’s how the rewards were distributed:

Tier 1

Broccoli(f3b) – $500,000 liquidity support

Tier 2

KOMA – $400,000
SIREN – $400,000

Tier 3

BANANA – $300,000
PERRY – $300,000
TST – $300,000

Tier 4

Broccoli(714) – $200,000
Broccoli(f2b) – $200,000
TUT – $200,000

This funding will help these projects strengthen their trading activity and market presence.

With CZ’s commitment to adding more liquidity to the program, the meme coin sector on BNB Chain could see increased activity and investor interest. In the coming weeks, it will be interesting to see how this impacts the broader meme coin market.