Outside Source
According to data from Four.Meme, the TST test token, which has become a memecoin, has a trading volume of over $43 million.
News
Traders pumped a test token created by the BNB Chain team for a tutorial video to a market cap of over $35 million before crashing down to a market cap of around $15 million at the time of the writing.
The token was created for a step-by-step video walkthrough of creating a memecoin on the Four.Meme platform, a launchpad for social tokens on BNB Chain.
According to an X post from Binance co-founder Changpeng “CZ” Zhao, the name of the memecoin was revealed during a single frame on the training video, which was removed by a BNB Chain member upon discovering the issue.
However, the Binance founder told the team member to put the video back up. At the time of CZ’s X post, the market cap of the TST token was around $494,000.
Source: Changpeng Zhao
CZ also made it clear that his post was not an endorsement of the token and that it “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.”
The memecoin’s meteoric rise and price volatility highlight the rabid popularity of the niche asset class, which has come under scrutiny from financial regulators and US lawmakers in recent weeks.
The TST token’s price action. Source: Four.Meme
Related: Jupiter DEX, ex-Malaysian prime minister shill memecoins in X hack
Memecoins facing legal heat in the United States
Pump.fun, a memecoin launch platform on the Solana network, is facing a proposed class-action lawsuit from investors claiming the platform marketed and sold unregistered securities.
The lawsuit, which was submitted by Diego Aguilar to the Southern District of New York on Jan. 30, argued:
“The speculative nature of memecoin trading and the prevalence of market manipulation have eroded trust in legitimate cryptocurrency markets and blockchain technology, damaging the credibility of the broader digital asset ecosystem.”
US President Donald Trump’s memecoin launch in January 2025 also drew criticism from US lawmakers and attorneys, who argued that memecoins could potentially create a political conflict of interest.
Attorney David Lesperance told Cointelegraph that the memecoin launch was a violation of the US Constitution and argued that the memecoin creates the potential for foreign influence over the president.
Massachusetts Senator Elizabeth Warren called for a probe into the Official Trump (TRUMP) memecoin, citing the same concerns as Lesperance.
Magazine: Memecoins: Betrayal of crypto’s ideals… or its true purpose?
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article first appeared at Cointelegraph.com News
