CZ defends Giggle Academy's sale of donated memin coins

Zhao Changpeng: It is natural that donated tokens are sold?

Binance co-founder Zhao Changpeng (CZ) did not apologize for this. When asked about a community token sale involving his educational charity project, he explained the arrangement in a straightforward way: sending Giggle Academy tokens that he had not requested, and the charity organization reserved the right to sell them. "If you call it a donation, expect them to use it," he said. He added that if someone expects donated tokens to be treated differently-such as being destroyed rather than sold-then that expectation is itself embarrassing. He mentioned that the organization follows a rule of thumb: most of the tokens it receives are redeemed for BNB at the end of each month, and he does not manage a donation wallet himself.

Thank you for digging this out . I thought it was clear. I haven't communicated with the Giggle team recently about the sale of (donated tokens), but @GiggleAcademy does have a rule of thumb: exchange or sell most donated tokens to BNB at the end of each month. I don't manage it myself... https://t.co/ez9QjhZLjP

-- CZBNB (@cz_binance) July 30, 2026

Allegations: Questions surrounding the US$78,000 donation of MAME

CZ's statement was not released voluntarily, but was a response to a certain post. The X platform account @mamebnb previously posted that online data showed that a wallet associated with Giggle Academy transferred and sold a 2% community donation (approximately US$78,000) from Mame Inu (MAME). MAME is a meme token on the BNB chain that has nothing to do with Giggle Academy. The account asked CZ, Binance and BNB Chain to clarify the authorization, purpose and destination of the funds, and the wording clearly focused on "transparency" rather than accusing fraud.

Today, Giggle Academy sold all of their MAME holdings. For those who don't understand the situation, we previously donated MAME worth approximately US$162,000 to Giggle Academy because we truly believe in supporting education and giving back to society. Giggle Academy backed by @cz_binance is doing... pic.twitter.com/YPBqyNDZf

-- MAME (@mamebnb) July 29, 2026

Tracking Wallet: The Truth Revealed by Blockchain Data

Two separate BscScan transactions confirm this. The first transaction showed that a wallet labeled "Mame Inu: Community Reserves" sent 20,000,000 MAMEs (valued at US$107,168.39 at the time) to the address 0xC7f501D25 Ea088 aeFCa8B4b3ebD 936 aAe12bF4A4. The receiving address belongs to Giggle Academy's public donation wallet. In the second transaction, another wallet confirmed to be controlled by Giggle Academy and at address 0x1baA96dcFe4B622503112a6E3fB9FA3f3D1795fa was exchanged for 20,398,211 MAMEs through Binance's on-chain DEX router and PancakeSwap liquidity pool, obtaining approximately 135.8 BNBs (worth US$79,663.97). The amount matches the donation amount, and the amount obtained matches the $78,000 originally proposed by @mamebnb, describing the complete flow of the same batch of tokens from donation to sale.

Meme Coin Donated screenshot from Bscscan browser

"Then expect them to use it": CZ defends the sale

CZ does not deny that donated tokens were sold. He defended this as the core essence of the entire act. The essence of his argument is that no one has agreed in advance to accept a particular token, and therefore no one has the right to require that the token achieve a particular result. He said he was not personally involved in the sale, but supported the practice itself, noting that the result was that more than a million children were educated in less than two years.

Not the first time: Giggle Academy's meme token funding problem

This is not the first time that such controversy has arisen over the donation of unrelated meme tokens to Giggle Academy. Another token called $GIGGLE remitted large amounts of funds to the same donation address in September and November 2025. At the time, Giggle Academy publicly promised to destroy half of the tokens it received and exchange the other half for BNB. This policy is more specific than the "rule of thumb" described by CZ this time. However, neither statement gave a clear answer to whether this more formal split policy still applies for donations other than $GIGGLE tokens (such as the donation of MAME), or whether a more relaxed monthly exchange practice is actually implemented.