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X temporarily blocked access to Changpeng Zhao’s account

On November 23, social network X restricted access to the account of former Binance CEO Changpeng Zhao (CZ) without explanation. At the time of writing, the problem has been resolved.

“The whole ‘time limit’ thing was that I was just trying to send a Happy Thanksgiving tweet,” Zhao joked.

He suggested that the ban was an automatic response to his profile name being changed from “CZ Binance” to “CZ BNB.”

“The X-bot detection algorithm needs improvement, Elon Musk. It doesn’t detect bad bots and erroneously targets real people,” added the former head of the exchange.

On November 21, in a deal with the US Department of Justice, Binance agreed to pay fines totaling $4.3 billion amid an ongoing investigation by the department and SEC in relation to the company and CZ.

The agreement involves filing charges against Zhao for money laundering, financial fraud and sanctions violations. He agreed to resign as CEO, pleading guilty to the violations alleged by the authorities, and must personally pay $50 million in fines.

By agreement with FinCEN The crypto exchange will implement a “full exit” from the US and appoint a five-year observer who will oversee the internal sanctions compliance program

CZ also posted a $175 million bail to remain free. However, prosecutors demanded that he be banned from leaving the United States for fear of flight. Sentencing is scheduled for February 23, 2024.

Richard Teng, head of regional markets, became the new head of Binance.


Source: Cryptocurrency

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