Binance’s CZ Clarifies His Follows Aren’t Endorsements and Unfollows Accounts

TLDR

CZ unfollowed over 380 accounts to protect against scams in the crypto space.
Users were trading accounts CZ follows for up to $20,000, thinking they had value.
CZ emphasizes his follows are random and have no commercial endorsement.
Reports show CZ’s follower count on X increased from 10.1M to 10.47M since September.

Changpeng “CZ” Zhao, the founder of Binance, has issued a strong warning against buying social media accounts that he follows. He clarified that his follow on X (formerly Twitter) does not equate to endorsement and holds no commercial value. In response to reports of these accounts being sold for thousands of dollars, CZ vowed to unfollow any accounts found to be involved in such transactions.

CZ’s Warning to Buyers of Social Media Accounts

CZ’s message to the crypto community was clear: accounts he follows should not be viewed as valuable or as a business asset. On X, he stated, “Don’t buy handles that I follow. I will unfollow any sold accounts.” This statement followed growing concerns that certain accounts followed by CZ were being traded for high sums, ranging from $3,000 to $20,000. Users believed these accounts were more valuable because of the perceived endorsement by CZ.

The Binance CEO explained that his decision to follow an account is often random, and he prioritizes individuals who share positive energy and offer useful information. He clarified that the action of following someone is not intended to signal financial or business backing. He also encouraged users to report any accounts that are being sold. “If you see an account for sale, let me know. DM, tweet, notify interns,” he added.

Mass Unfollowing Sparks Reactions in Crypto Community

CZ’s recent decision to unfollow over 380 accounts has sparked widespread discussion. Many in the crypto space noticed the wave of unfollows after some accounts he followed began rebranding, launching new tokens, or disappearing with investor funds. These actions raised concerns that some accounts were sold to scammers or misused to promote fraudulent activities.

As part of his cleanup, CZ emphasized the need to prevent scams within the crypto industry. “I follow accounts randomly. If I see something suspicious, I will unfollow,” he explained. Many in the Binance community expressed their respect for CZ’s move, noting that it would help protect the reputation of his social media presence. However, some users also recalled times when accounts followed by CZ were seen as a valuable asset, with some even admitting to purchasing such accounts in the past.

A Shift in CZ’s Social Media Strategy

The mass unfollowing by CZ also raised questions about his broader strategy on social media. Many of the accounts unfollowed were linked to former Binance partners, media figures, or investment firms that had distanced themselves from the exchange. This shift may reflect CZ’s effort to clean up his digital presence as he adjusts to new ventures and potentially a cleaner branding approach.

Despite these changes, CZ’s follower count on X has continued to grow. Since September, his followers have increased from 10.1 million to 10.47 million. Speculation about his future involvement with Binance after legal restrictions ease may also be contributing to this increase in followers.

Community Reactions to CZ’s Move

The reaction from the crypto community to CZ’s actions has been a mix of humor and respect. Some users joked about CZ being the “Oprah of follows,” with one tweet reading, “You get a follow! But don’t sell it or you’re dead to me.” Others expressed admiration for CZ’s move, seeing it as a necessary step to protect users from scams and to maintain the integrity of the crypto space.

Even as the debate about the value of being followed by CZ continues, his message remains clear. Reputation in the crypto space cannot be bought, and traders should not treat a follow from a major figure as a financial asset.

The post Binance’s CZ Clarifies His Follows Aren’t Endorsements and Unfollows Accounts appeared first on CoinCentral.

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