Social media platform X — formerly Twitter — restricted the account of former Binance CEO Changpeng “CZ” Zhao without explanation other than suggesting “they may have potentially violated the X Rules.”
On Nov. 23, X users could briefly view CZ’s account only after clicking on a button to acknowledge it was “temporarily restricted.” Zhao resigned as CEO of crypto exchange Binance on Nov. 21 as part of a settlement with U.S. authorities in which he pleaded guilty to one felony charge.
According to a Nov. 23 update from Zhao following the event, the former Binance CEO speculated that the restriction was an automated response to him changing his profile name from “CZ Binance” to “CZ BNB”:
“The X bot detection algo needs some work, [Elon Musk]. It doesn’t detect the bad bots, and wrongly targets the real humans.”
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It’s unclear whether CZ, known for being an active user on the social media platform, will cut back on posts after stepping down as Binance CEO. The crypto exchange’s global head of regional markets, Richard Teng, has assumed the leadership role, though he boasts a modest 231,600 followers on X compared to Zhao’s 8.7 million.
I want to get even more connected with the #Binance community on .
Who should I follow?
— Richard Teng (@_RichardTeng) November 23, 2023
On Nov. 21, the United States Department of Justice announced a $4.3 billion settlement with Binance, requiring CZ to pay $150 million as part of civil cases with regulators. The former CEO also pleaded guilty to one felony count related to a failure to maintain an effective Anti-Money Laundering program at Binance.
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