Changpeng Zhao transferred roughly $965,000 in BNB and 币安人生 tokens from a public wallet to his education project Giggle Academy on Aug. 16 and said the address would be retired.

The wallet had been used for testing Trust Wallet and became cluttered with unsolicited meme coins, prompting speculation about whether the activity signaled endorsement of those tokens. Zhao said unsolicited tokens made the address difficult to manage and that repeatedly clearing the wallet would not solve the problem because anyone could send assets to a public address. He described the retired address as an effective burn address, though not a cryptographically unspendable one.

On-chain analysts Onchain Lens and The Data Nerd reported that 1,440 BNB, valued near $872,000, and 182,620 币安人生 tokens, valued near $93,000, were moved to Giggle Academy’s Gnosis wallet. The transfers followed Zhao’s Aug. 16 post in which he explained that he had purchased the tokens with BNB and intended to donate the holdings. Giggle Academy, which accepts public donations to fund free educational content for children worldwide, previously accumulated about $11 million in BNB donations after opening its donation channel in 2025.

Zhao said he will stop using the public address, though no public evidence indicates the private key has been destroyed or the address is unspendable; third parties may continue sending arbitrary BNB Chain tokens to it, and Giggle Academy may use the donated assets as needed.