Giggle Academy, a crypto instructional challenge based by Binance co-founder and former CEO Changpeng “CZ” Zhao, has renewed its efforts to distance itself from the Giggle Fund token amid heightened volatility and mounting neighborhood skepticism.
In a Tuesday X post, Giggle Academy clarified that GIGGLE — a newly launched token linked to the challenge — just isn’t issued by the group and is a community-initiated memecoin.
“The Giggle memecoin just isn’t an official coin launched by Giggle Academy,” CZ wrote on X on Monday, including: “I don’t know who launched it.”
The clarification follows rising controversy over the token, which intensified after Binance announced on Saturday that it could begin donating 50% of GIGGLE spot and margin buying and selling charges to charitable initiatives linked to Giggle Fund beginning in December.
GIGGLE market cap tanks after leaping 222%
The Giggle Fund token is a charity-oriented memecoin on Binance’s BNB Sensible Chain that converts buying and selling exercise into donations for Giggle Academy, according to knowledge from Binance-owned CoinMarketCap.
The token is designed to routinely donate 5% of each commerce to fund Giggle Academy’s training tasks and is managed by a “decentralized staff after transitioning from nameless origins.”
Launched in September 2025 with an preliminary market capitalization of round $24 million, GIGGLE has seen regular progress, reaching $100 million by early October, according to CoinGecko knowledge.
On Oct. 25, the token’s market cap surged 222%, climbing from roughly $86 million to a peak of $277 million, earlier than falling again to round $60 million by Monday. On Tuesday, it skilled one other bounce to roughly $90 million, leaving the neighborhood puzzled by the acute volatility.
“They actually pumped that GIGGLE up and used y’all for exit liquidity,” market observer The Alchemist wrote in an X publish on Tuesday.
Cointelegraph approached Giggle Academy for remark relating to GIGGLE volatility however had not acquired a response on the time of publication.
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The information got here amid BNB, the native cryptocurrency of the BNB Chain, accelerating its dip after becoming the third-largest crypto asset by market cap in early October.
On Tuesday, Binance CEO Richard Teng dismissed allegations that Binance helped increase a stablecoin linked to US President Donald Trump earlier than former CZ received a presidential pardon on Oct. 23.
The allegations particularly relate to a $2 billion funding Binance acquired from Abu Dhabi’s state-owned funding agency MGX, with the deal settled in Trump-backed USD1 stablecoin. “The utilization of USD1 for the transaction between MGX as a strategic investor into Binance was determined by MGX,” Teng mentioned.
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