Recently, the crypto world was taken by storm with the emergence of $PEPE coin, a meme coin created by none other than Binance CZ and Elon Musk. Initially, $PEPE coin had no real value or purpose, but within just three days of its launch, it made huge gains in the market.
This surprising success of $PEPE coin had many people wondering about its origin. It was soon discovered that Binance CZ and Elon Musk were the hidden creators of this meme coin. The evidence that supports their involvement is the fact that Binance CZ listed the coin on his Exchange during the coins’ pump.
It is noteworthy that Binance CZ hardly lists meme coins on his Exchange without thoroughly investigating and ensuring the underlying project has solid utility or product. However, when you visit the $PEPE website, you’ll realize it has no practical use. Therefore, many believe that Binance CZ and Elon Musk carefully crafted the project to manipulate the market and make quick profits.
Moreover, it is knwon that Binance CZ had once said in his past Twitter AMA that they do not tolerate pump and dump of coins on their Exchange. However, the way he rushed to list $PEPE coin raises suspicions. It indicates that they leveraged their influence in the crypto world to pump $PEPE coin and then dump it at a profit.
Unfortunately, it seems that Binance CZ and Elon Musk had a secret dispute that led to a fallout between them, resulting in them unfollowing each other on Twitter. This disagreement culminated in Elon Musk dumping his $PEPE coin, which resulted in Binance CZ losing a significant amount of money.
This dispute between the two billionaires was not the only problem for Binance CZ. On May 12, 2023, Binance ceased operations in Canada following regulatory crackdowns. It was a significant hit to Binance CZ’s empire and trading volumes, given Canada’s status as a top crypto-trading hub.
In conclusion, the creation of $PEPE coin by Binance CZ and Elon Musk was primarily to manipulate the market and make quick profits. Although many people were caught up in the frenzy of the memes, it is always wise to analyze the underlying project’s actual utility and potential before investing your hard-earned money.