An obscure test token briefly became a multimillion-dollar asset before plummeting just as fast. A BNB Chain tutorial video accidentally revealed the memecoin TST, triggering a speculative wave that saw its value surge by 1,281%.

Binance’s former CEO Changpeng “CZ” Zhao attempted to clarify that neither he nor Binance endorsed the token, but the hype had already taken hold. “This is NOT an official token by the BNB Chain team or anyone. It is a test token used just for that video tutorial. Nothing more,” CZ mentioned.

A Tutorial Gone Wrong?

The chaos started when the BNB Chain team released an educational video demonstrating how to create memecoins using the Four. Meme platform. The video unintentionally displayed the token’s name, TST, prompting immediate interest from traders.

Crypto influencers, especially within the Chinese market, identified the coin and reportedly began aggressively trading it. Within hours, the speculative fervor sent TST’s price soaring. It reached a peak of $0.05183, with its market capitalization surpassing $50 million.

However, as reality set in, the token quickly crashed back down to $15 million. BNB Chain’s team attempted to mitigate the situation by deleting the video and removing the private key associated with the tutorial’s wallet. Yet, the hype was already in motion.

“The team member also deleted the private key for the creator address used in the tutorial, which holds 0.13% of the token. And no one on the team (or Binance) holds any of that token,” CZ wrote.

A Lucky Trader’s Windfall—Or Insider Trading?

The TST frenzy highlighted the growing influence of memecoins and token launch platforms like Four. Meme, which allow users to easily create and launch new cryptocurrencies.

However, this rapid expansion has also caught the attention of regulators. The UK’s Financial Conduct Authority recently issued warnings against certain launchpads, cautioning they may be violating financial laws.

Despite stepping down as Binance’s CEO, CZ remains one of the most influential figures in the crypto space. The TST episode is just the latest example of how a single comment from him can send traders into a frenzy.

Whether intentional or not, his words still carry weight in an industry known for its volatility. Meanwhile, CZ has re-emerged as a key player in blockchain investments through YZi Labs, a rebranded version of Binance Labs.