Binance founder Changpeng Zhao (CZ) has warned X users not to buy accounts that he follows, threatening to unfollow “any sold accounts.” This Monday, CZ called the practice of using his social media interactions as a “digital status currency” and asked the community to notify him if they saw accounts for sale, explaining that he follows people for being “informative” or having “positive energy.”
CZ’s warning responds to reports that these accounts have become a speculative market. An influencer noted that in 2022, an account “followed by CZ” could cost 20,000 USDT, with recent sales around 3,000 USDT. The main risk of “followed by CZ” accounts is that they “fall into the hands of criminals, being used for scams and rug pulls,” leveraging the Binance founder’s credibility.
This action coincides with a “systematic purge” of Zhao’s following list. On November 8, CZ unfollowed 384 accounts, an action that comes after his recent U.S. presidential pardon. The purge included former Binance projects like CommEX, investment fund managers like Polychain Capital, and media figures who had reportedly criticized Binance or advocated for reduced dependence on the exchange.
Source: https://x.com/cz_binance/status/1987786698538012685
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