Former Binance CEO Changpeng Zhao announced that he has burned a significant amount of altcoins from his public cryptocurrency wallet, as he had promised some time ago.
Details of the Altcoin Burn
Zhao destroyed tokens including $1.95 million worth of TUT, $1.1 million worth of BROCCOLI, and $546,000 worth of another batch of BROCCOLI. Blockchain data confirmed that the tokens were sent to a burn address.
Reactions and Future Steps
Zhao had previously asked his followers if there was an easy way to burn a large number of different tokens from his cryptocurrency wallet. His wallet contained more than 109 different altcoins sent by developers seeking attention.
Statements from Changpeng Zhao
After the burn, Zhao confirmed that he sent some high-value altcoins from his wallet to a burn address. He mentioned that artificial intelligence could provide an easy way to burn all his altcoins, but he is not using it for now because its security has not been tested. Zhao also urged cryptocurrency developers not to send him more tokens to gain attention.
Changpeng Zhao continues to uphold his previously stated intention, highlighting the importance of managing altcoins in public wallets.
