Binance CEO Urges Elon Musk to Solve Twitter’s Bot Problem
Binance CEO Changpeng Zhao has advised Elon Musk to address the issue of spam and bots on Twitter before removing the block option. CZ highlighted that blocking has been the only way to deal with bots, and removing it without eradicating the bots first will lead to more problems. He shared a screenshot of multiple bot accounts impersonating him, emphasizing the need for action against these malicious accounts. Additionally, CZ expressed his desire for Twitter to add cryptocurrency as a payment option for the verified badge, as Binance is an investor in the platform.
Key Points:
- Binance CEO advises Elon Musk to tackle Twitter’s bot problem before removing the block option.
- Blocking has been the only defense against bots, and their prevalence will increase if blocking is removed.
- CZ shares a screenshot of bot accounts impersonating him, highlighting the scale of the issue.
- Binance CEO suggests adding cryptocurrency as a payment option for the verified badge.
- Twitter’s bot problem persists, particularly in the realm of Crypto Twitter.
Despite Twitter’s rebranding to X, the platform continues to face issues with spamming and bot activity. Bots have become a significant problem in the cryptocurrency community on Twitter, bombarding users with scams and fraudulent activities. Despite Musk’s attempts to reduce bot activity, it remains prevalent, leading many to believe that the platform benefits from their existence. Prior to taking over Twitter, Musk criticized the platform for its bot problem and even considered backing out of the deal. A study conducted by the Network Contagion Research Institute found that bots on Twitter played a role in artificially inflating the prices of certain cryptocurrencies. Musk’s tweets mentioning altcoins caused their values to increase by over 50%, while also driving organic conversations and increased promotion of these tokens by bots.
Hot Take:
The prevalence of bots on Twitter is a significant issue that needs to be addressed before removing the block option. While Elon Musk’s attempts to combat bot activity have had some impact, the problem persists. The platform should prioritize implementing measures to eradicate bots entirely, safeguarding users from scams and fraudulent activities. Additionally, incorporating cryptocurrency as a payment option for the verified badge would further enhance the integration of digital assets into mainstream platforms. By taking these steps, Twitter can establish itself as a safe and valuable space for the crypto community.
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