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BNB Binance founder Zhao Changpeng (often known as "CZ") fulfilled his previous plan on August 16, emptying a closely watched public wallet and transferring approximately US$965,000 in BNB and Binance Life Tokens to its education project Giggle Academy.
Summary
On Sunday night, CZ transferred approximately US$965,000 in BNB and Binance Life tokens to Giggle Academy. Online tracking data showed that 1,440 BNB and 182,620 Binan Life Tokens were transferred to Giggle Academy's wallet on Sunday. CZ said a large amount of unsolicited memein flooded his public wallet and repeatedly sparked online speculation in the community. He called the abandoned wallet a valid destruction address, rather than the non-spent chain address defined by the agreement. Giggle Academy accepts public donations to fund free educational content and projects for children around the world.
CZ transfers US$965,000 to Giggle Academy
Onchain analysis firms Onchain Lens and The Data Nerd reported that Zhao Changpeng transferred approximately 1,440 BNB (worth approximately US$872,000 at the time) and 182,620 Binan Life Tokens (worth approximately US$93,000) to Giggle Academy's Gnosis wallet. The transfers occurred shortly after CZ said it would donate the assets and stop using the address.
(Social media quote: Zhao Changpeng transferred 1.44K BNB (approximately US$872,000) and 182.62K Binan Life (approximately US$93,000) to Giggle Academy's Gnosis wallet three hours ago. -- Onchain Lens, August 16, 2026)
CZ claims that memin makes wallets difficult to use
Zhao Changpeng explained the decision in a post to Binan Plaza on August 16, saying that he was testing Trust Wallet, but a large amount of unsolicited memein flooded the address, making it difficult for him to find his BNB. He tried to remove the unwanted assets by destroying some of the tokens, but said the transactions had sparked more speculation that his actions might represent some kind of recognition or market signal. Zhao Changpeng concluded that repeated clearing of tokens will not solve the problem because anyone can continue to send assets to a public blockchain address. This problem is particularly acute for a wallet that is closely monitored. Token creators can transfer assets to a well-known address without the recipient's request or approval. Therefore, the balance in Zhao Changpeng's wallet does not prove that he purchased, supported or participated in a certain token project.
CZ completes approximately US$965,000 transfer from Giggle Academy
Zhao Changpeng initially stated that he planned to transfer the remaining BNB and Binan Life positions to Giggle Academy. Subsequent on-chain reports showed that the transfer had been completed, turning its originally announced planned transaction into a completed transaction. BinanceLife (also known as BinanceLife) is a meme coin on the BNB chain. Binance currently provides spot trading for the token and describes it as a memin on the BNB chain. Zhao Changpeng said that the positions transferred out on Sunday were purchased with BNB.
Giggle Academy has a history of receiving cryptocurrency donations. According to previous reports, the education project accumulated approximately US$11 million in BNB donations within weeks of opening public donation channels in 2025. The college said the endowment funds were used to fund educational content, community projects and efforts to expand the reach of its free learning platform.
The wallet is not a technical destruction address.
Zhao Changpeng said that once the asset transfer is completed, he will stop using the public address. "It will effectively become a destruction address," he wrote. This description should not be interpreted as a traditional blockchain destruction address. Zhao Changpeng said he would stop using the wallet, but there was no public evidence that the private key had been destroyed or that the address was no longer cryptographically unexpendable. Tokens that are later sent to that address will still be visible on the chain. This difference is important because Zhao Changpeng's activities have previously triggered rapid speculation in memein. According to previous reports, there have been sudden speculative transactions in memeins, which are only loosely related to Zhao Changpeng, although he explicitly denied that he issued these tokens.
What happens next
Zhao Changpeng's plan is to leave the address unused. This will end his own proactive activity using the wallet, but third parties can continue to send any BNB chain tokens to the address. Giggle Academy can also use donated assets rather than holding them permanently. Zhao Changpeng said in July that the donation to the college is intended to fund free education and recipients should use the donated assets. As a result, the latest transfer completed the immediate process described by Zhao Changpeng: he announced plans to transfer valuable assets, and the on-chain tracker subsequently recorded that approximately US$965,000 had arrived at Giggle Academy, and Zhao Changpeng said the previous public wallet would be retired.
