Changpeng Zhao (CZ), the founder of Binance, has refuted widespread rumors of his disappearance after an alleged surfing accident in Dubai.
Social Media Frenzy
The story, which quickly gained traction on social media, prompted traders to capitalize on the speculation by launching meme coins on the Solana and BNB Chain networks. The false reports, circulated on WeChat over the weekend, claimed Zhao was surfing near Dubai’s Jumeirah Beach when a strong rip current pulled him out to sea. The rumors also alleged that local Coast Guard and rescue teams deployed speedboats, drones, and helicopters in response to police reports.
Zhao’s Response
Zhao has since dismissed the reports as “fake news” on his X account, highlighting inconsistencies in the social media narrative. He clarified that while he participates in kitesurfing, traditional surfing is a different sport. The Binance founder added that he always has a dedicated safety boat when kitesurfing.
“I don’t surf (kite surfing is a diff sport). Dubai is not even a surfing destination. There is Surf Abu Dhabi, world’s largest surf place, which I havent tried yet,” he wrote.
Meme Coin Mania
Traders quickly seized the opportunity, launching several meme coins shortly after the news broke. Tokens appeared on the Solana network, attracting speculators hoping to profit from the confusion.
According to data from GeckoTerminal, most of the pools on pump.fun associated with the incident failed to attract significant liquidity, although one meme coin saw over $114,000 in activity within hours. However, the excitement was short-lived, as most of these coins lost over 40% of their value after Zhao denied the rumors and confirmed his safety.
Previous Skepticism
The 49-year-old is known for his skepticism towards meme coins, having previously accused traders of chasing hype by launching tokens tied to his name. Zhao has described the trend as “a little weird” and encouraged developers to focus on building practical blockchain applications.
Zhao later emphasized that he has never invested in meme coins, referencing the TST token launch incident last year, which went viral after being promoted as linked to Binance despite having no official connection to the exchange.
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