3 Hours Before the Crash: What CZ Really Said Before the Market Melted

Just three hours before the cryptocurrency market experienced a historic "Blackout" on October 11, 2025, resulting in a staggering $19.3 billion in liquidations, former Binance CEO CZ (Changpeng Zhao) appeared on a podcast to discuss his personal journey and broad industry perspectives. CZ revealed that his primary drive has shifted from financial goals to maximizing his ability to "help others," following his time in custody. Post-release, his focus has been on supporting the BNB Chain ecosystem and Binance Labs, which has been distinctly rebranded and separated from the centralized exchange.

He acknowledged the current "confused" state of Crypto Twitter, where the mood is bearish despite Bitcoin recently setting new highs. CZ interpreted this confusion as a sign of industry maturity and growth, where expansion has created deeper layers and diverse narratives, typical of a true, decentralized Web3 ecosystem. He maintained a strong, long-term optimism for Bitcoin, reiterating his belief that a price range of $500,000 to $1,000,000 remains a reasonable long-term target, based on historical market cycles.

A key topic was his evolving stance on Meme Coins. While he maintained that he was never "against" them—explaining his personal preference lies with "functional" technological assets—he now actively supports the cultural phenomenon on BNB Chain. This shift is driven by genuine user demand and the need to provide necessary infrastructure. Crucially, CZ highlighted BNB Chain’s unique edge: it is the only public chain that offers a complete, vertical path for Meme projects, allowing them to scale seamlessly from native on-chain trading activity all the way up to the high-liquidity centralized exchange (CEX) platform of Binance. This structural advantage, he noted, creates an unmatched funnel for builders and traders in the fast-paced Meme coin culture.