One Clap From Changpeng Zhao and a BNB Chain Token Went Vertical

Binance founder Changpeng “CZ” Zhao applauded a new BNB Chain launchpad with a single clap emoji on Thursday. The GENIUS token spiked within hours.

Zhao then questioned whether his post caused the move. He said he never checked the chart and pointed to the project’s own product release instead.

CZ Points Away From His Post on the GENIUS Token

Genius Terminal, an onchain trading platform whose token runs on BNB Chain, opened a launchpad called genius.fun on Thursday. Zhao marked the announcement with one clap and nothing else.

The GENIUS price went near vertical, climbing above $0.42 before drifting back through the day. GENIUS carries a market cap near $118 million, small enough that one post can shift it. The token still trades well below its April high of $0.95.

However, Zhao questioned that link on Friday after one user credited him for the candle. He posts about projects making progress on BNB Chain, he said.

His posts have moved small BNB Chain markets before. One viral message in July handed a single buyer a 357x return on a token named after him.

Traders now watch his account as a market signal, whether or not he intends one.

Inside the New BNB Chain Launchpad

Genius Foundation, the group behind the GENIUS token, opened genius.fun on Thursday. The same team launched an onchain options exchange in June. The launchpad pairs new tokens with tokenized public company shares, known as bStocks, rather than with crypto assets alone.

The team says buyers can send those positions to a foundation that unwraps them into real equity. Holders could then vote in corporate governance. No campaign has taken a stake in any listed company so far.

Established markets dispute that premise. AMC’s chief executive recently called stock tokens fake equity, and stock token voting rights still vary by issuer. BNB Chain nonetheless ranks among the busiest venues for tokenized stock trading.

CZ has argued that initial public offerings will move onchain. Genius.fun tests a blunter version of that idea. Whether any token campaign reaches an actual shareholder vote remains unproven.

The post One Clap From Changpeng Zhao and a BNB Chain Token Went Vertical appeared first on BeInCrypto.