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.
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.
The allegations specifically relate to a $2 billion investment Binance received from Abu Dhabi’s state-owned investment firm MGX, with the deal settled in Trump-backed USD1 stablecoin. “The usage of USD1 for the transaction between MGX as a strategic investor into Binance was decided by MGX,” Teng said.
