- X bot detection algorithms need work, they target actual human beings, not bots
- CZ added BNB to new name, he has hope for Binance Coin
- Binance reached a $4.3 billion settlement with the DoJ
Social media platform X put a temporary ban on former Binance CEO Changpeng “CZ” Zhao’s account without a proper explanation except over suspicions he might have violated its rules, Cointelegraph reported.
A bot restricted his account
X users could not see his account on Nov. 23 or could do so only briefly, after which a message appeared that the account had been “temporarily restricted.”
Zhao posted an update after the ban, expressing the assumption that it had been an automated response by a bot to him changing his profile name from “CZ Binance” to “CZ BNB”. He addressed Elon Musk directly in a tweet, saying his bot detection algorithms needed work because they targeted actual human beings instead of malicious bots.
Will he remain active on X?
At this time, it’s not clear whether CZ will be less active on X moving forward. He was very active before his legal troubles, boasting a following of 8.7 million. It can be assumed he will, at least based on the name change, and his choice of adding BNB to his name in particular seems to indicate he has hopes for Binance Coin despite everything. Binance’s legal woes have also impacted Coinbase stock prices.
CZ stepped down as CEO of Binance
After pleading guilty on a felony charge in a settlement with the US Department of Justice on Nov. 21, Zhao resigned as CEO of the world’s leading crypto exchange. The role of Binance CEO has been assumed by Richard Teng, Binance’s head of regional markets. Teng has fewer than 250,000 followers on X.
The settlement, amounting to $4.3 billion, was among the most massive in history. CZ also had to pay regulators a fine of $150 million. The felony count involved failing to maintain an effective Anti-Money Laundering (AML) program at Binance.
Released on bond, but poses “flight risk”
At the time, Bankless Times reported that Changpeng Zhao had been released on a bond of $175 million after pleading guilty to violations of the Bank Secrecy Act.
He posted bond of $15 million held in a trust account and agreed to lose this money if he violates the terms of his release. According to initial terms, he could leave the country, but a higher court later ruled he might pose a flight risk.
