Binance CZ Denies Giggle Memecoin, Says Not Official

The Giggle Academy raised over $1.3 million in BNB in 12 hours, with 90% ($900,000) coming from a 5% transaction tax on the GIGGLE memecoin.

Ephraim Emmanuel•November 3, 2025

Changpeng Zhao, popularly known as CZ, recently stirred up social media by stating that he is not familiar with the GIGGLE memecoin. The Binance founder noted that the memecoin is not an official cryptocurrency. Following his statement, the value of the token experienced a significant drop.

While Zhao supported these donations, he made it clear that he is not involved in the launch of the memecoin. He also stated that Giggle Academy is free and does not use any tokens, as Zhao and donations from the crypto community fund it.

CZ Denies GIGGLE Memecoin

CZ’s denial of any official connection to the GIGGLE memecoin on November 3, 2025, shocked the cryptocurrency market, causing the token’s value to drop by more than 80% in minutes. Binance had earlier announced that it would donate 50% of the trading fees from the GIGGLE token to Giggle Academy, a nonprofit organization dedicated to improving educational access for children.

Recall that the GIGGLE memecoin was launched on the BNB Chain by an anonymous person named RUNE; however, while the memecoin had served as a community-driven fundraising tool that redirected early donations to the academy, CZ has made it clear that he does not support its launch, saying, “I don’t know who launched it.”

CZ and the GIGGLE Memecoin

Giggle Academy started accepting public donations on September 21, 2025, and quickly raised over $1.3 million in BNB within 12 hours. Most of the money, 90% or $900,000 in fees, came from the 5% transaction tax on the GIGGLE memecoin. These transactions were routed through the Giggle Fund wallet.

The token continued to perform strongly. DEX Screener data showed that Giggle’s market cap then surged to $28 million. CZ was surprised by the fast fundraising and shared his thoughts on X, saying, “I still don’t get how a $5 million market cap coin can generate $900,000 in fees in 12 hours.”

He credited the GIGGLE token for building community, encouraging creators, and promoting the platform. The experience changed CZ’s view on memecoins. Initially, he was skeptical of their price swings, but later recognized that memecoins can contribute meaningfully beyond mere speculation.

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