Former Binance CEO, Changpeng Zhao, faced a brief restriction on his social media profile on X after stepping down from his executive position. For a short period on November 23, attempts to access Zhao’s X profile resulted in a standard restricted account message. The message warned viewers that the account was temporarily restricted due to potential violations of X rules. However, it is worth noting that Zhao’s profile was fully accessible again by 10:00 p.m. UTC on the same day.
Zhao attributed the restriction to his decision to change his profile name. Comparing archived versions of his profile indicates that he changed it from “CZ Binance” to “CZ BNB.” This change not only reflected his resignation as Binance CEO but also emphasized his continued interest in the BNB token. His profile currently describes him as the co-founder and former CEO of Binance, as well as a holder of BNB and BTC. It is interesting to note that despite his substantial investments in BNB, Zhao has downplayed his involvement by stating that the token “doesn’t need a CEO.”
Zhao also took the opportunity to address X owner, Elon Musk, expressing that X’s bot detection algorithm needs improvement. This incident sheds light on the fact that anti-bot measures sometimes mistakenly target human users instead of bots. It is worth mentioning that Binance, along with Zhao, contributed $500 million towards Musk’s acquisition of Twitter in 2022. Thus, it is ironic that Zhao became a victim of the controversial policies of this very social media platform.
Aside from the social media restriction, Binance faced multi-billion dollar settlements with U.S. agencies and admitted to criminal allegations starting from November 21. Zhao himself pleaded guilty and is currently out on bail after a $175 million bond payment. Prosecutors are now aiming to prevent him from leaving the U.S. before his scheduled sentencing in February 2024. As a result of these charges, Zhao has stepped down from his position at Binance. It is worth mentioning that for the next three years, his involvement with the company will be closely monitored.
However, it is important to note that authorities have not provided any specific terms regarding restrictions on Zhao’s public activities or social media presence. The New York Times also confirms that there is no clarity on the extent to which Zhao’s public engagement will be limited.
The temporary restriction of former Binance CEO Changpeng Zhao’s social media profile on X sparked controversy. The incident occurred after Zhao changed his profile name, reflecting his resignation and continued investment in the BNB token. Zhao seized the moment to criticize X’s bot detection algorithm, which mistakenly targeted his profile. Moreover, Binance’s legal troubles and Zhao’s guilty plea have further complicated the situation. While Zhao has stepped down from his role at Binance and will be monitored for three years, the specific terms regarding his public activities and social media presence remain uncertain. The incident serves as a reminder of the challenges and consequences individuals face in the world of social media and digital platforms.