CZ Defends Giggle Academy’s Practice of Selling Donated Meme Coins

MakeCryippreferred on

Changpeng “CZ” Zhao isn’t apologizing for it. Asked directly about a community token sale tied to his education nonprofit, the Binance co-founder laid out the arrangement in blunt terms: send Giggle Academy a token it didn’t ask for, and the nonprofit reserves the right to sell it. “If you called it a donation, then expect them to use it,” he wrote, adding that anyone who’d expect a donated token to be treated differently, burned rather than sold, should feel embarrassed for assuming so. He said the organization keeps to a rule-of-thumb of converting most of what it receives into BNB near the end of each month, and that he doesn’t personally manage the donation wallet.

The Accusation: A $78K Question Over a MAME Donation

CZ’s statement was a response, not an announcement. It followed a post from the X account @mamebnb, which said on-chain data appeared to show a wallet linked to Giggle Academy transferring and selling roughly $78,000 of a 2% community donation from Mame Inu (MAME), a meme token on BNB Chain unrelated to Giggle Academy itself. The account asked CZ, Binance, and BNB Chain to clarify the authorization, purpose, and destination of the funds, a request phrased explicitly around transparency, not fraud.

Tracing the Wallets: What the Blockchain Actually Shows

Two separate BscScan transactions back this up.

The first transaction shows a wallet labeled “Mame Inu: Community Reserves” sending 20,000,000 MAME (worth $107,168.39 at the time) to 0xC7f501D25Ea088aeFCa8B4b3ebD936aAe12bF4A4. That receiving address belongs to Giggle Academy’s public donation wallet.

A second wallet, 0x1baA96dcFe4B622503112a6E3fB9FA3f3D1795fa, confirmed as a Giggle Academy-controlled wallet, swapped 20,398,211 MAME through Binance’s on-chain DEX router and a PancakeSwap pool, netting roughly 135.8 BNB (worth $79,663.97). The quantity matches the donation amount, and the proceeds match @mamebnb’s original $78,000 figure, describing the same tokens moving from donation to sale.

“Then Expect Them to Use It”: CZ’s Case for Selling

CZ didn’t dispute that donated tokens get sold. He defended it as the whole point. His argument, in effect: nobody agreed in advance to accept a specific token, so nobody is owed a specific outcome for it. He said he wasn’t personally involved in this particular sale, but stood behind the practice itself, pointing to a reach he put at more than a million children educated in under two years.

Not the First Time: Giggle Academy’s Meme-Coin Money Problem

This isn’t the first time an unaffiliated meme coin’s donations to Giggle Academy have produced this exact argument. A separate token, $GIGGLE, sent large sums to the same donation address in September and November 2025, and Giggle Academy responded then with a public commitment to burn half of what it received and convert the rest to BNB, a more specific policy than the “rule-of-thumb” CZ described this time. Whether that more formal split still applies to non-$GIGGLE donations like MAME’s, or whether the looser monthly conversion habit is the actual current practice, isn’t something either statement resolves.