Crypto giants have found a silver lining to the news Founder of Binance Changpeng Zhao (CZ) plans to take action He pleaded guilty to violating anti-money laundering lawsSpeculation on the newly launched shitcoin “CZ”.
The former CEO, known for tweeting to reassure his millions of followers, will pay a $4.3 billion fine to the US government every time FUD rears its ugly head. People in the industry are rushing to Twitter to give their opinion on the matter, and it seems the jury is still out on whether this will be a negative or a positive for the industry.
But when the best and brightest minds in the crypto space are analyzing the implications of this news, Digits have found a way to capitalize on it.
log on, of CZ Token, It already trades on Ethereum DeFi exchange Uniswap.
CZ, which launched within hours of the news, is currently up 18,000% from its current low.
CZ Token Trading on Ethereum. Image: Dexscreener
To be clear, this coin has nothing to do with Binance, or CZ. It was an anonymous dev who saw the news and capitalized.–But who doesn't love a little entrepreneurial spirit?
At the time of this writing, the CZ sits at a nice market value of $130,000, but it's changing rapidly. Really quickly, in the time we spent editing this article, it went from 130K to 200K, to 130K.
Of course, none of these can happen Financial advice. This Ethereum-based token was launched by an anonymous dev, and the dev is likely to end up shaking, draining liquidity from the project and breaking the hearts of those holding the wallet.
For what it's worth, Ethereum chart site Dexscreener says the liquidation is locked, but there's always a chance the dev will buy more supplies.
Regardless, it's a reminder that when times get tough, DJs find a way.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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