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Former Binance CEO Changpeng Zhao, aka CZ, has indicated he may help investors who lost money in BROCCOLI and Test Token (TST) pump-and-dump meme coins.
His comments came after he donated 150 BNB (about $100,000) to a university student who used $50,000 of his own money to help investors who lost funds in the Libra (LIBRA) meme coin rug pull that embroiled Argentina’s President Javier Milei in controversy.
CZ Most Likely Will Donate To TST And Broccoli Victims
In a Feb. 18 post on X, CZ said that the address to which he’d sent funds to the student had received more BNB than he donated, and that he will most likely donate those funds to ”people who had a loss on TST or some of the Broccolis.”
A series of recent meme coin scandals is prompting investors to look for safer ways to invest in the high-risk, high-reward cryptos. That’s prompting some to buy into a new token that offers diversified meme coin investment funds for the first time.
Meme Index (MEMEX) has already raised almost $4 million as investors buy into its four meme coin investment portfolios, ranging from high-risk new tokens to a safer fund investing in titans like Dogecoin and Shiba Inu.
Broccoli Meme Coins Erupted After CZ Named His Pet Dog On X
A Broccoli meme coin frenzy erupted after CZ disclosed on X last week that his pet dog is called Broccoli. This led to the creation of CZ’s Dog (BROCCOLI), which, along with thousands of other similarly-named BROCCOLI tokens, saw their values plummet days after developers manipulated their prices.
Broccoli's Story
A year and a half ago, I casually chatted with a friend who owned a (real) zoo in Dubai. Curious, I asked what dog breed is adapted to the Dubai summer heat. I had no plans to get a dog.
Later that evening, my doorbell rang, and a young Belgian Malinois showed… pic.twitter.com/vSLiHiS4fC
— CZ 🔶 BNB (@cz_binance) February 13, 2025
TST was initially meant to be a demonstration token on how to create a meme coin on Binance’s new Four.meme platform. But developers accidentally disclosed the token’s address during the demonstration, and it didn’t take long for investors to pump the Test meme coin’s price – and then dump it.
TST is now down more than 85% from its all-time high of $0.5244 set on Feb. 9.
Investors Turn To Meme Index For Safer Meme Coin Investing
These recent meme coin scandals have tarnished the image of the sector, and even contributed to a 9% plunge in the Solana price yesterday as it felt an investor backlash triggered by many such pump-and-dump tokens being launched via its Pump.fun meme coin launchpad.
One beneficiary of that backlash is Meme Index (MEMEX), a new crypto presale that aims to help investors gain exposure to the meme coin sector without falling victim to the latest scam.
Its funding has surged past $3.77 million as investors back the idea of a new, safer way to invest in meme coins.
Influential YouTuber ClayBro, who has more than 136k subscribers, says MEMEX ”could be a huge 10x gainer.”
Meme Index offers four meme coin funds: Meme Titan, Moonshot, Midcap, and Meme Frenzy, each coming with different levels of risk and potential reward.
Meme Titan is the safest option, investing in meme coins with a market capitalization of over $1 billion, including the likes of Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE).
The riskiest fund, and also the one with highest potential rewards, is Meme Frenzy, which invests in meme coins with a market cap of less than $50 million.
In between them are Moonshot, which invests in tokens with a market cap ranging from $250 million to about $1 billion, and Midcap, which invests in tokens worth between $50 million and $250 million.
One thing all of the Meme Index funds have in common is that they eliminate the risk of losing a massive amount of money on one speculative meme coin play, whether a LIBRA, BROCCOLI or TST.
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