Degens Have Already Found a Way to Make Money on CZ Stepping Down - Decrypt

• Binance founder Changpeng Zhao (CZ) plans to step down as CEO and plead guilty to violating anti-money-laundering laws.
• Speculation on a newly launched shitcoin called "CZ" has emerged on Ethereum DeFi exchange Uniswap.
• CZ token, unrelated to Binance or CZ, has seen an 18,000% increase in value since its launch.
• The token's market cap has fluctuated rapidly, currently sitting at $300,000.
• There are concerns about the token's legitimacy and the possibility of the anonymous developer pulling liquidity from the project.

The sentiment in the article is mixed. While the news of Changpeng Zhao stepping down and facing legal consequences is seen as negative for the crypto industry, the speculation and rapid increase in value of the CZ token provide a silver lining for some.