Changpeng Zhao, also known as CZ, has addressed online rumors claiming he went missing. He says the reports that he was swept away by a strong current while surfing in Dubai are false.
I saw the news fly around on social media, and it was crazy! Everyone started jumping on the hype train, and a ton of new meme coins popped up on Solana and the BNB chain as people tried to make a quick profit from the speculation.
CZ Dispels Surfing Accident Claims
Over the weekend, false reports spread on WeChat claiming the founder of Binance was swept out to sea by a strong current while surfing near Jumeirah Beach in Dubai. The rumors went on to say that the Coast Guard launched a large-scale search using boats, drones, and helicopters after receiving reports from the police.
Zhao has called the report “fake news,” highlighting errors in the social media post. He explained that while he enjoys kitesurfing, it’s distinct from traditional surfing. He also noted that he always has a safety boat accompany him when he kitesurfs.
He clarified that he doesn’t surf (and that kite surfing is a separate sport). He also pointed out that Dubai isn’t known for surfing, although he mentioned Surf Abu Dhabi, which is the world’s largest artificial wave facility, but he hasn’t had a chance to try it yet.
Accident Rumor Starts Meme Coin Frenzy
As soon as the news came out, traders jumped at the chance and quickly created several new meme coins. These tokens started appearing on the Solana network, drawing in investors hoping to make a quick profit from the excitement.
Data from GeckoTerminal shows that most of the new coins launched on pump.fun didn’t gain much traction, although one briefly saw over $114,000 in trading volume. This initial excitement quickly faded, though, with most of these coins losing more than 40% of their value after Changpeng Zhao (CZ) dismissed a rumor about his safety.
Changpeng Zhao, 49, has often criticized meme coins, pointing out that traders are easily swayed by trends, as evidenced by tokens created using his name. He’s called this practice unusual and encouraged developers to concentrate on creating useful blockchain technology instead.
Zhao clarified that he has never invested in meme coins. This came after a token called TST gained popularity last year with false claims of being connected to Binance – the exchange had no involvement with it.
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2026-05-26 03:02