CZ’s Giggle Academy distances itself from GIGGLE as token plunges

Giggle Academy, a crypto educational project founded by Binance co-founder and former CEO Changpeng “CZ” Zhao, has renewed efforts to distance itself from the Giggle Fund token amid heightened volatility and mounting community skepticism.

In a Tuesday X post, Giggle Academy clarified that GIGGLE — a newly launched token linked to the project — is not issued by the organization and is a community-initiated memecoin.

“The Giggle memecoin is not an official coin launched by Giggle Academy,” CZ wrote on X on Monday, adding: “I don’t know who launched it.”

The clarification follows rising controversy over the token, which intensified after Binance announced on Saturday that it would start donating 50% of GIGGLE spot and margin trading fees to charitable initiatives linked to Giggle Fund, starting in December.

GIGGLE market cap tanks after jumping 222%

The Giggle Fund token is a charity-oriented memecoin on Binance’s BNB Smart Chain that converts trading activity into donations for Giggle Academy, according to data from Binance-owned CoinMarketCap.

The token is designed to automatically donate 5% of every trade to fund Giggle Academy’s education projects and is managed by a “decentralized team after transitioning from anonymous origins.”

Launched in September 2025 with an initial market capitalization of around $24 million, GIGGLE has seen steady growth, reaching $100 million by early October, according to CoinGecko data.

On Oct. 25, the token’s market cap surged 222%, climbing from about $86 million to a peak of $277 million, before falling back to around $60 million by Monday. On Tuesday, it took another jump to about $90 million, leaving the community puzzled by the extreme volatility.

“They really pumped that GIGGLE up and used y’all for exit liquidity,” market observer The Alchemist wrote in an X post on Tuesday.

Cointelegraph approached Giggle Academy for comment regarding GIGGLE volatility, but had not received a response at the time of publication.

Related: Trump defends CZ pardon, says he ‘doesn’t know’ Binance co-founder

The news came 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 boost a stablecoin linked to US President Donald Trump before former CZ received a presidential pardon on Oct. 23.