Changpeng Zhao (CZ), the founder of Binance has made a direct warning to his followers over those attempting to profit from accounts that CZ follows on his X (once Twitter).
One of the recent posts CZ wrote is, Don’t buy handles that I follow. I will unsubscribe to any of the sold accounts. He encouraged people to report any of such cases to him personally through direct message, tweet or by calling Binance intern.
CZ made it clear that his follows do not presuppose support or collaboration. My followings are random, most of them are supportive, positive energy people. My follow is nothing, not endorsement, he added.
Fake Hype Over “CZ Follow”
This post was in reaction to a conversation initiated by an X user known as EnHeng (@EnHeng456) who wrote that recently there has been a small group of accounts being sold off in the massively large amount because they were followed by CZ.
The common screen shot showed a chatting in Chinese which translates about to:
One time I purchased an account and CZ.
“30 million.”
To be followed is to have struck the jackpot.
“Yes.”
“In the end, he unfollowed too.”
This discussion shows just how much speculative hype there has been over social media influence, where being followed by a big crypto influencer, such as CZ, can drive up the perceived worth of an account.
CZ Draws Line Against Account Trading
On alerting users not to purchase such handles, CZ seeks to deter the increasing black market of selling X accounts depending on the number of followers they have. His message supports the notion that a follow by a high profile should not be regarded as confirmation, collaboration, or monetary support.
This is also indicative of the continued attempts by CZ to foster the spirit of authenticity and transparency in the crypto community, particularly on the social media where fraud and faking identities are becoming an order of the day.
