Social Media Platform Restricts Former Binance CEO’s Account
Social media platform X, formerly known as Twitter, has restricted the account of former Binance CEO Changpeng “CZ” Zhao without providing an explanation. The platform suggested that CZ’s account may have violated their rules. On November 23, X users could briefly view CZ’s account after acknowledging that it was temporarily restricted. CZ resigned as CEO of Binance on November 21 as part of a settlement with US authorities, where he pleaded guilty to one felony charge.
Automated Response to Profile Name Change
In an update following the event, CZ speculated that the restriction was an automated response triggered by his profile name change from “CZ Binance” to “CZ BNB.” He criticized the platform’s bot detection algorithm for failing to detect bad bots and mistakenly targeting real users.
Uncertainty Surrounding Future Social Media Activity
It remains unclear whether CZ will reduce his social media activity after stepping down as Binance CEO. Richard Teng, the crypto exchange’s global head of regional markets, has assumed the leadership role. However, Teng has significantly fewer followers compared to CZ.
Binance Settlement and Guilty Plea
The US Department of Justice recently announced a $4.3 billion settlement with Binance, which required CZ to pay $150 million in civil cases. Additionally, he pleaded guilty to one felony count related to the failure to maintain an effective Anti-Money Laundering program at Binance.
Hot Take: Social Media Restrictions Raise Questions about Freedom of Expression
The restriction of CZ’s account on social media platform X raises concerns about freedom of expression in the crypto community. While platforms have rules and guidelines in place to maintain a safe environment, the lack of transparency in this case leaves users questioning the fairness and consistency of these restrictions. As crypto enthusiasts, it is important to advocate for open dialogue and equal treatment on social media platforms to foster a healthy and inclusive community.
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