A test token created for a BNB Chain tutorial unexpectedly surged to a $35 million market cap before crashing to around $15 million.
A test token created for a BNB Chain tutorial unexpectedly surged to a $35 million market cap before crashing to around $15 million. The token, TST, was part of a step-by-step video walkthrough on how to launch a meme coin using the Four.Meme platform. Binance co-founder Changpeng “CZ” Zhao stated on X that the token’s name was briefly visible in a single frame of the tutorial video. After realizing the issue, a BNB Chain team member removed the video, but Zhao later instructed them to restore it. At the time of Zhao’s post, the token’s market cap was roughly $494,000. He clarified that the token was not an official BNB Chain project and was only meant for demonstration purposes.
Meme coins have recently come under legal scrutiny in the United States. Pump.fun, a meme coin launch platform on the Solana network, is currently facing a proposed class-action lawsuit. Filed by Diego Aguilar in the Southern District of New York on Jan. 30, the lawsuit alleges that the platform marketed and sold unregistered securities. It argues that speculative trading and market manipulation in meme coins have undermined trust in cryptocurrency markets and damaged the credibility of blockchain technology.
The controversy surrounding meme coins has also reached the political sphere. U.S. President Donald Trump’s meme coin launch in January 2025 sparked criticism from lawmakers and attorneys. Attorney David Lesperance claimed that the meme coin violated the U.S. Constitution and warned that it could create a risk of foreign influence over the president. Massachusetts Senator Elizabeth Warren also called for an investigation into the Official Trump (TRUMP) meme coin, citing similar concerns.
Despite these controversies, meme coins continue to attract traders looking for quick gains. The volatility of tokens like TST demonstrates the ongoing speculation in the space, even when projects have no official backing or intrinsic value.
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