Changpeng Zhao, co-founder and former CEO of Binance, has carried out a significant token burn involving TUT and Broccoli. 

The move occurred yesterday, which saw Zhao eliminate a combined value of over $3.5 million in tokens. Specifically, the burn included 45.59 million TUT valued at $1.95 million, 10.14 million Broccoli-6714 worth $547,000, and 798 million Broccoli-caab with a value of $1.1 million. 

The market responded quickly, with TUT experiencing a sharp 5% surge to $0.051 within the first hour before retracing.

Token burns typically reduce the total supply, altering their circulating metrics immediately. This type of reduction often draws attention, especially when initiated by a high-profile figure.

Community Reactions to CZ Burn Move

As the tokens were burned, Zhao addressed the community through the X platform. He confirmed sending a few high-value tokens to the burn address and acknowledged emerging AI solutions to automate such tasks, though none had yet passed security reviews. 

He advised against sending more tokens to the wallet expecting interaction. Responding to user inquiries, Zhao clarified that he acted based on the wallet balance, not market value. He also emphasized that there was no intention to harm any token or its holders by selling the tokens.

No need to destroy a project just because they wanted an interaction that I don't want to give. No need to hurt their holders.

— CZ 🔶 BNB (@cz_binance) March 31, 2025

Background on Token Sent to CZ Wallet

Meanwhile, one TUT holder, Yerasyl Amanbek, later explained their reason for sending $90,000 worth of tokens to Zhao. Amanbek disclosed that he initially had three options in getting exposure for the TUT token.

The first involves liquidating tokens to pay for a centralized exchange listing, retaining the tokens while enduring community pressure, or sending them to Zhao in hopes of exposure. Ultimately, he chose the third option, reportedly resulting in a highly decentralized token distribution. 

There can be many reasons why people send you tokens, the main one is for exposure.

When I was sending $TUT (worth $90k at that time), I had these options:
1. Pay for CEX listing, also dump these tokens to afford it
2. Keep it and continue facing pressure from community — it…

— Yerasyl Amanbek (@YerasylAmanbek) March 31, 2025

Meanwhile, crypto tracking tool Alva noted that the burn could drive increased market interest due to the reduced token supply. However, actual value changes would still hinge on broader demand factors and investor behavior.