jakiro
Written by: Yangz, Techub News
Success is Meme, failure is Meme.CZ’s plan to use Memecoin to support BNB Chian is probably ruined by himself.
Forward STAR10 Getting the fire
Following the release of Libra by the Argentine president and raising concerns about the “Celebrity Coin” scam, former Brazilian football superstar Ronaldinho (Royce Jr.) announced the launch of token STAR10 on BNB Chain early Monday morning and announced the CA address.However, considering Ronaldo’s reputation in recent years and the painful lessons of the previous rounds of “celebrity coins”, Memecoin enthusiasts did not make a big deal as usual while taking advantage of the opportunity of spending weekends across the ocean.Dex Screener data shows that although the token’s market value rose to around US$200 million after Ronaldo’s tweet, it may then fall due to multiple revelations about some internal addresses making profits, and the market is lukewarm.
I thought this “celebrity coin” would quietly become a thing of the past in the recent turbulent market, but unexpectedly, a retweet from CZ afternoon brought the coin back to the public’s sight.CZ said, “The STAR10 token is only exclusively issued on BNB Chain. The other chains are counterfeit coins, please be wary of fraud.” In addition, the individual “has been a fan of Ronaldo since 2005.”Of course, CZ also repeatedly emphasized that this tweet is not an endorsement of the token, and there is no commercial relationship between BNB Chain (and any of its affiliates) and Ronaldo, and reminded users to pay attention to the volatility of Memecoin.
Although CZ tried its best to clarify that “is not an endorsement”, the market value of STAR10 still rose rapidly to $350 million after being retweeted.Many investors have found that Ronaldo had interacted with CZ twice before issuing the coins.On February 26, Ronaldo posted a Twitter video, announcing that he would give his personal signature jersey to “friend” CZ.On March 2, Ronaldinho reposted CZ’s “Keep Building” tweet and called “On it”.
Just when many investors thought this was the “new wealth code” and were preparing to start trading, the incident ushered in another key turning point.X user @R10coin_ (the account has been frozen at present) Revealed that STAR10 is actually a Shenzhen “Plate” coin, which is a token promoted by Ronaldo after selling his X account to a Shenzhen coin issuing team for US$5 million.In addition, blockchain security company GoPlus Security also issued a security reminder, saying that STAR10 has serious security risks. “The token owner has not waived ownership and can destroy any holder’s token at will.”
Affected by the above explosive news, the price of STAR10 has fallen again.As of writing, STAR10 has fallen back from its high of $0.39 to $0.07.In addition to announcing the announcement of “listening to community feedback” to give up ownership of STAR10 tokens and extending the lock-up period to 255 years, Ronaldo’s X account seems to be still operating normally. Not only has he announced the launch of the Telegram community, but he has also launched a “Group and Signature Jersey” activity. The comments below are also popular with “My idol, because of you and I fell in love with football”.
Unlike Ronaldo X’s account, although CZ tried hard to clear the suspicion of endorsement, community users did not buy this “disclaimer”.Many investors even joked that CZ should learn the allusion of “no silver here”.
Cultural differences or the high place in the temple is not worried about the people
Seeing the public opinion continue to ferment, CZ also tried to restore her image. She first forwarded GoPlus Security’s tweet and reminded users to pay attention to risks. Then she attributed the controversy to “cultural differences”, saying, “In English, the clearer you say, the better. Sometimes you don’t even say that there will be legal responsibilities. In Chinese, it’s best to just click. If you say it too straightforwardly, others will often understand the antonym.” CZ said that his communication model is translated into Chinese in English, and asked everyone to only understand the literal meaning and not think too much.
However, this remark did not play the expected ease, but instead intensified opposition.Many investors questioned how CZ, who had studied in China before the age of 12 and had lived in Shanghai for a few years since then, could not speak Chinese.Of course, there are also opinions that CZ does this because “the Chinese ambiguity is very ambiguous and the English reference is clear. His own wealth and regulatory pressure are there, and it is understandable that he does not want to get too involved with meme to avoid supervision.”In addition, KOL Encryption also pointed out based on its own experience that “bilingual barriers exist.”
Putting aside personal experience and language usage habits, the reason why CZ’s image as a Chinese leader in the cryptocurrency industry is questioned again may be that even ordinary investors know that STAR10 is very likely to be a fraudulent project, why does CZ “forward” this more often.In addition, the repeated mistakes in CZ’s Twitter remarks recently made many investors sigh that CZ is “at the height of the temple, without worrying about the people.”
From endorsing Certik in December last year that it was “absolutely trustworthy”, to the recent farce of TST and its own pet dog “Brozil” and mistakenly identifying HashKey Global as BNB for Hong Kong’s recognition of BNB and self-declaring that “the first time using DEX”, CZ’s recent words and deeds are all detrimental to self-destruction of its industry image.As for forwarding STAR10, KOL @Sea_Bitcoin pointed out that CZ just wanted to use Memecoin to attract traffic to BNB Chain, but it was just that it “can’t understand and can’t play”, which led to a strong short-term utilitarian mind and deformed movements.@Ice_Frog666666 There is speculation that CZ’s perception may be closer to the ideas of powerful corporate executives in Web2 500, and is accustomed to completely cutting out factual statements and value judgments.What CZ doesn’t understand is that in the Memecoin market, “the decision logic of retail investors is highly simplified, and any of their words and deeds will be extracted from negative/favorable binary attributes, and the objectivity of their speech itself will be completely eliminated in the context of the dissemination of such binary attributes.” However, many KOLs have also put forward different views.@niqislucky thinks CZ “It is impossible not to understand the matter of ‘mentioned = attention = fluidity’. It is a purpose to pretend to be stupid.” @vvickym2 also said that CZ “just pretend to be confused with understanding. You can never wake up a person who pretends to be asleep.”
Many practitioners also gave their own suggestions on the recent situation of CZ’s repeated mistakes.Wu said that the founder of Colin suggested that he “carefully mention the specific project name, or before mentioning the specific project, ask the team to do a fact check first, or even use grok to ask what the negatives of this project on Twitter are.” @DeFi8362 also suggested, “Don’t list specific projects…just talk about overall development. Just like celebrities, when they are on camera (tweet), they will tear off the product logo without endorsement.” Zeng Jiajun zjj.eth believes that he should not have too high expectations for CZ and said bluntly, “If you post more bullshits, you will be disgraced. If you only use dex, you cannot have too high expectations.”
summary
CZ’s frequent mistakes once again puts its image as a Chinese leader in Crypto at the forefront of public opinion.Whether it is the urgent action of using Memecoin to attract traffic for BNB Chain or the inappropriate expression in its words, it makes people wonder whether he truly understands the needs of the market and users.As many investors have said, CZ seems to gradually deviate from the original intention of the crypto community and fall into a dilemma of being disconnected from the masses.
In addition, this incident once again reflects the impact of public figures’ words and deeds on the Crypto market.Today, Crypto is no longer a competition field for technology and innovation, but also a gaming field for traffic and public opinion.Every remark from public figures such as Musk, Trump, and CZ may become the trigger point for market fluctuations.Although this “celebrity effect” can bring short-term popularity, as far as I am concerned, it is more of a resistance.Trump’s second son Eric Trump made a call to “buy the dip!” when the market fell last week as an example. For novices who lack market experience, such remarks can be both guiding and misleading.Although celebrity remarks can attract attention, the impact it will often have in the end is short-lived.
