CZ’s Memecoin Mania

Changpeng Zhao, bless his entrepreneurial soul 🤑, decided to have a little fun with Mubarak (MUBARAK), a memecoin that probably deserves a better name.

On March 23rd, this Binance bossman opened a 24.7x leveraged long position on MUBARAK, like a regular guy with a little extra BNB burning a hole in his pocket (he used 0.04 BNB, for those keeping score). He even used a public donation address, proving his commitment to transparency or maybe just wanting to see the chaos unfold. Who knows?

Naturally, the market went bonkers 🤪. APX (APX), the platform where this financial rollercoaster took place, surged by a whopping 26% in just 7 minutes. Meanwhile, MUBARAK, the star of the show, saw a respectable 5.5% boost.

CZ, ever the cool cucumber, claimed it was just a “little on-chain testing,” but come on, we all know he’s secretly a memecoin whisperer. Just last month, he bought 20,150 MUBARAK for a measly 1 BNB, sending the token soaring to the top of the BNB Chain memecoin rankings.

But this time, he had a more serious purpose: to investigate Maximal Extractable Value (MEV) 🕵️‍♂️. MEV is like the shady uncle of crypto, always lurking in the shadows, taking advantage of unsuspecting users.

Zhao’s little experiment has left us all wondering: what’s the real story behind MUBARAK’s meteoric rise? Did CZ find any MEV shenanigans? Will MUBARAK become the next Doge? 🐶 Only time will tell.

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2025-03-24 12:01