CZ sends $965K to Giggle Academy, retires public wallet

Binance founder Changpeng “CZ” Zhao has followed through on plans to empty a closely watched public wallet, transferring roughly $965,000 in BNB and 币安人生 tokens to his education project, Giggle Academy, on Aug. 16. Summary CZ transferred roughly $965,000 in BNB and 币安人生 tokens to Giggle Academy on Sunday evening. On-chain trackers reported 1,440 BNB and 182,620 币安人生 tokens moved to Giggle Academy’s wallet Sunday. CZ said unsolicited meme coins cluttered his public wallet and prompted repeated community speculation online. CZ called the retired wallet an effective burn address, not a protocol-defined unspendable address on-chain. Giggle Academy accepts public donations to fund free educational content and programs for children worldwide. On-chain analysts Onchain Lens and The Data Nerd reported that Zhao transferred about 1,440 BNB, then valued near $872,000, and 182,620 币安人生 tokens worth roughly $93,000 to Giggle Academy’s Gnosis wallet. The transfers came shortly after Zhao said he would donate the assets and stop using the address. CZ MOVES $965K TO GIGGLE ACADEMY Changpeng Zhao transferred 1.44K $BNB (~$872K) and 182.62K #币安人生 (~$93K) to Giggle Academy’s Gnosis wallet three hours ago. pic.twitter.com/mZUQXjP3Zm — Onchain Lens (@OnchainLens) August 16, 2026 You might also like: Binance’s Changpeng Zhao urges caution after GitHub breach CZ says meme coins made the wallet difficult to use Zhao explained the decision in an Aug. 16 Binance Square post, saying he had been testing Trust Wallet when numerous unsolicited meme coins cluttering the address made it difficult to locate his BNB. He tried removing some unwanted tokens by burning them, but said those transactions sparked further speculation about whether his activity represented an endorsement or market signal. Zhao concluded that repeatedly clearing tokens would not solve the problem because anyone can continue sending assets to a public blockchain address. That issue is particularly relevant for a closely monitored wallet. Token creators can transfer assets to a prominent address without the recipient requesting or endorsing them. A balance appearing in Zhao’s wallet therefore does not establish that he bought, backed or participated in a token project. CZ completes roughly $965K Giggle Academy transfer Zhao initially said he planned to send his remaining BNB and 币安人生 holdings to Giggle Academy. The subsequent on-chain reports show the transfer has now taken place, updating his original announcement from a planned transaction to a completed one. 币安人生, also known as BinanceLife, is a BNB Chain meme coin. Binance currently offers spot trading for the token and describes it as a BNB Chain memecoin. Zhao said the holdings transferred Sunday had been purchased using BNB. Giggle Academy already has a history of receiving crypto donations. As crypto.news previously reported, the education project accumulated about $11 million in BNB donations within weeks of opening its public donation channel in 2025.