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CZ and Giggle Academy Clear Up Confusion; Burn Plan Set

8 hours ago
Bitcoin Ethereum News

Key Highlights: 

  • Giggle Academy clarifies that it has not issued Giggle Fund tokens. 
  • Binance donates 50% of GIGGLE trading fees to the educational platform. 
  • CZ clarifies the donation process and burn plan on X.

The Giggle Academy has issued an official statement and has addressed the confusion around the new popular Giggle Fund (GIGGLE), a community-created memecoin that recently saw a sharp surge in user attention following Binance’s announcement of fee donation support. The educational charity platform, through its X (formerly known as Twitter) page, made it clear that it does not have any official ties to the token’s issuance or management. The post then also reaffirmed that its mission is still the same and it is not willing to be included in any financial speculations.

The statement firmly stated that the Giggle Fund token was “not issued by Giggle Academy,” and clarified the fact that it is a community initiated memecoin. The Academy stressed that it has never launched any cryptocurrency nor made plans to do so. Instead, in the statement, the team stated that donations are welcomed. The Academy has also set up a donation page that will publicly disclose all income and expenses, reinforcing its commitment to accountability.

Why was this Statement Issued?

On November 3, 2025, Binance announced that it would donate 50 percent of the transaction fees generated from GIGGLE trading activity to Giggle Academy. The pledge effectively means that half of the fees collected by Binance from GIGGLE will be transferred to support the Academy’s charitable and education efforts.

This announcement caught the attention of the crypto community members through social media and it fuelled excitement and also caused a little confusion about Giggle Academy’s relationship with the token.

In response to the community’s growing curiosity, Giggle Academy clarified that even though they appreciate Binance’s generosity, the Academy still remains unaffiliated with the token’s issuance or trading ecosystem. The organization stated that it plans to take half of the transaction fees it receives from Binance and permanently burn that portion, removing it from circulation as a way to thank the community for its support. The remaining half, will be converted to BNB, to fund its educational and charity initiatives.

Giggle Academy noted that its decision to burn half of the proceeds symbolizes goodwill and transparency towards the community members who supported the mission. “We hope everyone will be responsible for their investment decisions,” the team wrote. “Giggle Academy will continue to focus on charity and education. Giggle Academy has no plans to issue a token in the foreseeable future.”

CZ Steps in and Clears the Air

Shortly after the Academy posted on X, Binance founder and former CEO Changpeng Zhao (CZ) offered further clarification on X to address questions that were circulating about the donations and the token mechanics. CZ, through his post on X, explained that the Giggle Fund Token smart contract directs BNB donation straight to the public Giggle Academy donation address. In Binance’s case, the company proposed to donate its GIGGLE trading fees directly in the token itself rather than in fiat or another cryptocurrency.

CZ clarified that Giggle Academy will burn half of the funds it receives and convert the rest of BNB. He added that this setup was voluntary and internal between Binance as the donor and Giggle Academy as the recipient. Then CZ reminded the critics that the trading fees, however, still belong to Binance and that this structure is simply their way of giving back to the community.

According to him, it will be simpler if Binance is involved in the burning and converting the appropriate portions before transferring the remainder in BNB directly to the Academy. After clarifying all of this, CZ, in the end, stressed that Giggle Academy is a free educational platform, not a crypto business.

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Source: https://www.cryptonewsz.com/cz-clarify-fee-giggle-denies-issuing-token/