Social Platform X Restricts Former Binance CEO's Account Amidst Profile Name Change

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2023/11/24 14:20

Social media platform X, formerly known as Twitter, has restricted the account of ex-Binance CEO Changpeng "CZ" Zhao. The platform hinted at a potential violation of X Rules, leaving users in the dark about the specific breach. On Nov. 23, users could access CZ's account only after acknowledging its "temporary restriction." This move followed Zhao's resignation from Binance on Nov. 21, linked to a $4.3 billion settlement with the U.S. Department of Justice, where he admitted guilt to a felony charge.

In a post-event update on Nov. 23, Zhao speculated that the platform's bot detection algorithm was flawed, attributing the restriction to his change from "CZ Binance" to "CZ BNB" in his profile name. He stated,

"The X bot detection algo needs some work, [Elon Musk]. It doesn’t detect the bad bots, and wrongly targets the real humans."

Uncertainty arises regarding CZ's future activity on the platform, known for his active presence. Despite stepping down, it remains unclear whether he will reduce his posts. Richard Teng, Binance's global head of regional markets, has assumed the leadership role, albeit with a more modest following of 231,600 compared to Zhao's 8.7 million.

I want to get even more connected with the #Binance community on 𝕏.

Who should I follow?
— Richard Teng (@_RichardTeng) November 23, 2023

The U.S. Department of Justice's settlement required CZ to pay $150 million as part of civil cases with regulators, coupled with a guilty plea to a felony count related to the lack of an effective Anti-Money Laundering program at Binance. The repercussions of this settlement and the impact on Zhao's online presence will unfold in the wake of these transformative developments.

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