One tweet was enough to make a memecoin skyrocket and then crash. Within 24 hours, the token “czstatue”, inspired by a statue erected in Washington D.C. in tribute to Changpeng “CZ” Zhao, surged by +27,000% before plummeting to almost zero.
From Glory to Abyss in a Day for this New CZ Coin
It all started with the unveiling of a life-sized sculpture of the Binance founder near the U.S. Capitol. Speculators rushed to buy the “czstatue” token, expecting a “dogecoin 2.0“. Result: $1.2 billion in trading volume in a single day for this new CZ-themed token.
But the party was short-lived. A few hours later, CZ himself posted an unequivocal message:
N’achetez pas le meme. Le créateur cherche juste à faire un coup rapide. Ce n’est pas quelque chose que j’apprécie.
His disapproval instantly burst the bubble. Within minutes, the token lost 99% of its value, leaving over 1,100 investors with nearly worthless tokens.
A Presumed “Honeypot”?
Initial analysis of the smart contract revealed a concerning detail: tokens cannot be sold. Only the creator seemed to have that ability. A typical setup for a “honeypot”, scams that lure in investors before locking them out.
On social media, victims’ anger quickly turned into mockery. Some point out that “the real memecoin was the statue“, while others criticize the naivety of a market that jumps on any “viral” project without verifying the code.
CZ, Between Presidential Pardon and Rejection of Personality Cult
This incident comes months after a high-profile political event: Donald Trump’s pardon of CZ earlier this year. The former Binance CEO was sentenced to four months in prison in 2024 after pleading guilty to violating the Bank Secrecy Act.
While he regained his freedom, CZ seems to want to move on from the media frenzy surrounding him. In his message, he even jokes:
Je n’accepterais jamais une statue de moi. Quel genre d’égocentrique ferait ça ? Cocasse…
A New Lesson for the Crypto Ecosystem
The “czstatue” episode serves as a reminder of how unbridled speculation in memecoins remains a minefield. In 2025, despite the market’s growing maturity, all it takes is still a tweet, an image, or a symbol to trigger an irrational rush.
Investors, on the other hand, learn a simple lesson: in the world of memecoins, the real rug pull is often the hype itself.
