CZ Questions the Identity of Boop's Founder

In a chaotic week for the crypto market, an unexpected dispute erupted between Changpeng Zhao (CZ) – former CEO of Binance, and the founding team of the meme coin project Boop on Solana.

The incident has captured the attention of the Web3 community and raised broader questions around accountability, identity, and credibility within the crypto ecosystem.

About Boop (BOOP)

Boop is a newly launched project that debuted on May 1, 2025, aiming to simplify the process of creating and trading meme tokens within the Solana ecosystem. The platform, boop.fun, allows users to generate tokens with just a few simple steps, no technical knowledge required and comes integrated with tracking tools like AlphaScan.

Within just a few hours of its launch, the BOOP token experienced explosive growth, reaching a market capitalization of over $500 million. Although it has since seen a slight correction, the project still maintains a valuation around $280 million, with daily trading volumes approaching $100 million.

Source: Binance

Interest in Boop surged further after the project was featured on Binance Alpha – Binance’s early-stage discovery platform for promising projects. This move led many to believe that Boop has a direct connection to Binance or is quietly backed by the world’s largest cryptocurrency exchange.

How to Check BOOP Airdrop via Binance Alpha:

Step 1: Go to Binance Wallet. This is Binance’s discovery platform for DeFi space. Make sure you have an Binance account in order to use Binance Alpha.

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Step 2: If your wallet or Binance account is eligible, your BOOP will appear in your Binance Wallet balance.

Read more: Farming Airdrops on Binance Alpha: Low Risk, High Reward

CZ Questions the Identity of Boop’s Founder

The controversy escalated on May 5, 2025, when Changpeng Zhao (CZ) posted on X in response to a fictional scenario shared by the account @Vito_168. In the post, Vito imagined a former Binance employee launching a failed project on Solana and later returning to seek help.

CZ replied by implying that such a person had once been fired from Binance for insider trading misconduct and later claimed to be a “CXO” of another project – a role that does not exist within Binance’s official structure. He also clarified that Binance never had a “CRO” (Chief Revenue Officer) position, stating: “The story is entirely fictional. Please don’t identify yourself with it.”

The post immediately triggered speculation in the crypto community, with many linking CZ’s comments to Dingaling (@dingalingts) – the founder of Boop.fun, who previously described himself as an “ex-CRO of Binance” and the founder of PancakeSwap.

This incident highlights the growing risks in Solana's latest meme coin wave, where developers launch tokens within minutes, blurring the line between genuine projects and opportunistic "shitcoins." Boop may be a victim of overblown skepticism or it may be a prime example of how media-driven hype can attract short-term speculative capital.