Changpeng Zhao, the now former director of Binance, has found himself in trouble with Elon Musk’s social media platform. His account on X, formerly Twitter, was temporarily suspended without notice or explanation.
This made it difficult for his millions of followers to reach CZ’s account. Zhao’s account only became visible after X users confirmed the restriction by clicking a special button. There was immediate speculation in the crypto community that CZ may have broken X’s rules.
This reaction came after an alert user reported that the blue badge for verification on X had suddenly disappeared. It later emerged that this verification badge will temporarily disappear following a name change on the social media platform.
I didn’t know you lost the blue check after a name change… Well…
— CZ 🔶 BNB (@cz_binance) November 23, 2023
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The name change from CZ to X was the culprit
The same day, CZ explained in a Twitter post that the restriction may have been imposed by his name change to After the restriction occurred, CZ checked X’s bot detection and sent it to Elon Musk:
“X’s bot detection algorithm needs some work (Elon Musk). It doesn’t detect the malicious bots and wrongly targets real people.”
Shortly after CZ solved the mystery, he posted a message with an explanation. According to him, the temporary restriction was imposed because of a “Happy Thanksgiving tweet” he wanted to send on X.
The whole “temporary restriction” thing was just because I was trying to send a “Happy Thanksgiving” tweet. 😂
— CZ 🔶 BNB (@cz_binance) November 23, 2023
CZ’s resignation will cost Binance dearly
Changpeng Zhao resigned as director of the world-renowned crypto exchange Binance on November 21st. This week he pleaded guilty to failing to enforce Binance’s anti-money laundering program.
CZ’s admission of debt cost Binance dearly. Due to a settlement with the American authorities, the crypto exchange had to pay a fine of $4.3 billion. Zhao was ordered to pay $150 million out of his own pocket as part of a civil case with regulators.
Zhao’s follower count shows that the former Binance director is still very popular on the X platform. With a whopping 8.7 million followers, he is way above the number of followers of the new Binance director. Richard Teng, the man who took the leadership role at Binance, has a meager 231,600 followers on the X platform compared to CZ.
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