3 hours ago

Binance traders send test token (TST) to the moon during live demo

A test token created by the BNB Chain team for a tutorial video unexpectedly became the center of a trading frenzy, reaching a market cap of $11.86 million at the press time. The TST token was originally developed for an instructional walkthrough on the Four.Meme platform , a memecoin launchpad on BNB Chain. However, its name was inadvertently revealed in a single frame of the tutorial video, leading traders to pile in, speculating on its potential value. ???? A tricky situation. A BNB Chain team member just told me this: "We did the step by step video education for launching meme token on https://t.co/74psayTeug platform. In this video, we launched a token named TST as the example. When we posted the education video yesterday,… https://t.co/lD77CaQDCj — CZ ???? BNB (@cz_binance) February 6, 2025 Unintended hype of TST token Binance co-founder Changpeng ‘CZ’ Zhao addressed the situation on X, noting that a BNB Chain team member initially removed the video after realizing the test token had been exposed. However, CZ directed the team to restore the video, making it clear that TST was purely for demonstration purposes and had no official backing from Binance or its team. At the time of CZ’s post, TST’s market cap was just $494,000, a fraction of the speculative heights it later reached. TST/USDT market cap. Source: Four.Meme platform He explicitly cautioned that the token was not an official project and held no inherent value beyond its role in the tutorial, stressing that his statement was not an endorsement but merely an acknowledgment of the situation. TST and the broader speculative trend in crypto The TST token saga serves as a clear example of the speculative frenzy surrounding memecoins, where even a test token with no intended value can experience extreme price swings fueled by hype and FOMO-driven trading. This was similar to the Unicorn Fart Dust (UFD) token, which was intentionally created as a satirical commentary on speculative crypto bubbles. Both instances highlight how memecoins, despite lacking fundamental utility, continue to attract traders eager to capitalize on short-term gains—often exposing them to low liquidity, rug pulls, and sudden price collapses. Featured image via Shutterstock The post Binance traders send test token (TST) to the moon during live demo appeared first on Finbold .

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Quant needs to break THIS level to avoid a price correction

Quant’s ability to break resistance and hold key support will be pivotal for future price action. Finbold

SEC Officials Instructed to Shrink Cryptocurrency Enforcement Team: Report

The U.S. Securities and Exchange Commission (SEC) is reportedly downsizing a special unit of more than 50 lawyers and staff members tasked to bring crypto enforcement actions. Citing five people familiar with the matter, The New York Times reports that a leading lawyer in the unit was pulled out from the enforcement division and some were assigned to other departments within the agency. The crypto enforcement unit was created during the first Trump administration but it nearly doubled its size in 2022 under previous SEC chair Gary Gensler, who initiated a crackdown on the US crypto industry. A recent tally reveals that the unit brought more than 100 crypto-related actions during the Biden administration. It is not yet clear though if the shake-up will affect pending enforcement actions, which include a case involving Coinbase. The crypto exchange is charged with violating federal securities laws by operating an unregistered platform. The report says some people think that the reorganization constitutes unfair demotion. Corey Frayer, who served as senior adviser to Gensler on crypto issues, also criticizes the SEC’s friendlier stance on digital assets. “What the new SEC leadership proposes to do for crypto is remove the speed limits and guardrails that have made our capital markets the strongest in the world.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post SEC Officials Instructed to Shrink Cryptocurrency Enforcement Team: Report appeared first on The Daily Hodl . Finbold