Amid a chaotic week in the cryptocurrency market, former Binance CEO Changpeng Zhao (CZ) broke into unexpected controversy with the founding team of Meme Coin Project Boo On Solana.
The incident caught the attention of the Web3 community and raised wider questions about accountability, identity, and credibility in the crypto ecosystem.
About boo (boo)
Boop is a newly launched project that debuted on May 1, 2025 to simplify the process of creating and trading meme tokens in the Solana ecosystem. The platform Boop.fun allows users to generate tokens in a few simple steps, without technical knowledge required, and integrates with tracking tools such as Alphascan.
Within just a few hours after its launch, Boop tokens experienced explosive growth, reaching a market capitalization of over $500 million. Despite minor corrections since then, the project remains valued at approximately $280 million, with daily trading volumes approaching $100 million.
Source: binance
The interest of the project was demonstrated on Binance Alpha, an early stage discovery platform for Binance Alpha (Binance Alpha). The move led many to believe that Boop had a direct connection with Binance or was quietly backed by the world’s largest cryptocurrency exchange.
How to check Boop Airdrop with Binance Alpha:
Step 1: Go to Binance Wallet. This is Binance’s Defi space discovery platform. Make sure you have a binance account so you can use binance alpha.
Step 2: If your wallet or binary account meets the criteria, your boo will appear in your binary wallet balance.
Read more: Cultivated airflow for breeding Alpha: Low risk, high reward
CZ questioned Boop founder’s identity
The controversy escalated on May 5, 2025, when Changpeng Zhao (CZ) posted on X in response to the fictional scene shared by account @vito_168. Vito imagines in the post that a former Binance employee started a failed project on Solana and later returned for help.
CZ replied that the person was fired for insider trading misconduct and later claimed to be the “CXO” of another project, a role that does not exist in the official Binance structure. He also clarified that Binance never held a position as “CRO” (Chief Revenue Officer) and noted: “The story is totally fictional. Please do not agree with it.”
The post immediately triggered speculation in the crypto community, with many linking CZ’s comments to dingaling(@dingalingts) – Founder boop.funpreviously described himself as “the former Binance” and was also the founder of Pancakeswap.
There are also former employees who were fired by Binance because of rat warehouse. A few years later, they said they were the founder of CXO. Binance has never had any other C O besides CEO, CTO, CMO, CCO, CFO, and COO.
The above story is purely fiction, please do not take it in the right direction.
– cz🔶bnb (@cz_binance) May 5, 2025
Famous accounts such as @Wolfy_XBT and @anndylian shared screenshots of Dingaling’s public profile in support of CZ’s theory of indirectly shutting him out.
Some users suggested that the tinga style was terminated due to no official confirmation so far, but may have been terminated due to internal violations.
Things have intensified after an account representing Boop’s X claims that the project’s founder had held a senior role at Binance Product owner Used for Binance Smart Chain (BSC).
CZ responded quickly and firmly. He wrote, in a concise and sharp post:
“I don’t know who this person is. We never had this name as a product leader in Binance or BSC.”
CZ’s speech caused shock waves in the community. While some investors are starting to question Boop’s transparency, others are still neutral or continue to support the project, part of the Meme Coin movement.
Boop: Just a meme or a marketing scam?
Now, the core questions focus on the true identity of the founder of Boop and whether the project uses Binance’s brand recognition to mislead the community. While using humor and cuteness to promote meme coins is nothing new, investors’ expectations and trust will be completely different when a project publicly claims to involve former senior Binance personnel.
Some Boop supporters believe: “It’s just a meme – no one needs to take memes seriously.” As long as the tokens show, the community thrives, the origin doesn’t matter. “But whether the project is a meme coin or not, it is unacceptable, including many industry figures against CZ, i.e. fake or exaggerate its credentials.
Shortly after CZ spoke, Boop’s price dropped by as much as 15% in a few hours due to intense buying pressure from Solana’s Meme Coin community, and then partially recovered. The number of transactions on platforms such as Jupiter, Raydium and MEXC is still high.
Source: Coingecko
The incident highlights the growing risks of Solana’s latest Meme Coin Wave, which in a matter of minutes brought out tokens in the wave, blurring the line between real projects and opportunistic “Shitcoins.” Boop may be a victim of overscepticism or a classic example of how media drives attract short-term speculative capital.
Dingaling’s silence, what’s next for Boop?
It is worth noting that Dingaling has not posted any official responses on social media since CZ’s indirect allegations. His recent post on X focused only on promoting Boop.Fun, highlighting the Stricking program, Airdrop Rewards and product updates.
In the face of CZ’s sharp remarks, this silence further fueled speculation about the accuracy of Dingaling’s personal claims. Some observers interpret the lack of response as a strategic move to avoid escalating tensions, while others see it as a sign that may not be accompanied.
| date | event | Influence |
| May 5, 2025 | CZ’s post on X, denying the existence of a CRO position in Binance; prompting former employee to be fired for insider trading. | Sparks controversy, community link to @dingaling. |
| May 5, 2025 | The crypto community highlights Dingaling’s profile, claiming to be the former core of Binance. | The addition of FUD has raised doubts about Boop.Fun’s credibility. |
| May 6, 2025 | Dingaling has not publicly responded to CZ’s indirect allegations. | Maintain community suspicion and distrust. |
Despite the controversy, Boop’s official website and media channels are still in full operation and are regularly announced about new features. Tokens continue to actively trade on platforms such as Mexc, Raydium and Jupiter, with high price volatility and continued interest from the Meme Coin community.
in conclusion
The controversy between CZ and BOOP is a clear reminder that meme coins do not exempt the need for transparency and accountability. While such projects may flourish with humor and viral appeal, the market still needs a clear line between “entertainment” and “fraud.”
If Boop is indeed not in contact with Binance as mentioned earlier, the project must clarify its team information and withdraw any misleading public statements. Instead, if Boop can provide reliable evidence of such a connection, it could challenge the credibility of CZ and the community should be clearly and honestly disclosed.
For crypto communities, especially newcomers, the key lesson remains: Never invest in just the claims of identity or industry relationships. The crypto world can turn jokes into million dollar assets, but not every joke is worth betting on your money.
Read more: The top 5 pre-computing projects supported by Yzi Labs (Binance Labs)
