Social media platform X, formerly known as Twitter, has raised eyebrows by restricting the account of former Binance CEO Changpeng Zhao, commonly referred to as “CZ.” The move, executed on November 23, left X users perplexed as they could only access CZ’s account after acknowledging a temporary restriction.
The platform offered little explanation for this action, merely alluding to a potential violation of X Rules. CZ’s resignation as Binance CEO on November 21, following a settlement with U.S. authorities where he pleaded guilty to a felony charge, adds a layer of complexity to the situation.
In a post-event update on November 23, CZ speculated that the restriction might be linked to an automated response triggered by his alteration of the profile name from “CZ Binance” to “CZ BNB.” He took to the platform, humorously noting, “The X bot detection algo needs some work, [Elon Musk]. It doesn’t detect the bad bots and wrongly targets the real humans.”
The lingering uncertainty raises questions about CZ’s future engagement on the platform. Known for his active presence, it remains to be seen if he will curtail his posts following his resignation from Binance. Meanwhile, the reins of the cryptocurrency exchange have been handed over to Richard Teng, the global head of regional markets. However, Teng’s relatively modest 231,600 followers on X pale in comparison to CZ’s substantial 8.7 million.
The timing of these events aligns with the U.S. Department of Justice’s announcement of a substantial $4.3 billion settlement with Binance on November 21. As part of the civil cases with regulators, CZ agreed to pay $150 million and pleaded guilty to a felony count related to the failure to maintain an effective Anti-Money Laundering program at Binance. This confluence of legal and social media developments adds a layer of intrigue to CZ’s digital presence amidst his evolving professional circumstances.