Article Summary

**Binance Founder CZ Warns Against Memecoin Scam as Golden Statue Token Crashes 86%** Changpeng Zhao, founder of cryptocurrency exchange giant Binance, issued an urgent warning to investors after a bizarre CZ-themed memecoin plummeted 86% within hours of its launch. The golden statue-inspired token, capitalizing on Zhao's recognizable persona, became the latest cautionary tale in the volatile memecoin market. "Don't buy the meme," Zhao explicitly warned crypto investors, distancing himself from the unauthorized token that exploited his image and reputation. The dramatic price crash highlights the extreme risks associated with celebrity-themed memecoins and speculative cryptocurrency investments. This incident underscores the ongoing challenges in the decentralized finance (DeFi) space, where unregulated tokens can launch without endorsement from the individuals they reference. The rapid 86% collapse demonstrates how quickly blockchain-based assets can lose value, particularly in the memecoin sector known for its high volatility. Cryptocurrency traders and Bitcoin enthusiasts should exercise extreme caution when investing in unofficial tokens, as this golden statue memecoin crash serves as another reminder of the importance of due diligence in digital asset investments.