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News

CZ X Account Suddenly Restricted After Confiding With The Community

November 23, 2023 - Around 2 mins mins to read

Key Points:

  • CZ X account was suddenly restricted for legal violations after he resigned from Binance in a $4.3 billion settlement.
  • Despite legal challenges, CZ expressed stability and gratitude for support.
Former Binance CEO Changpeng Zhao, widely known as CZ, faced a sudden restriction on his X account, citing a violation of the platform rules.
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CZ X Account Suddenly Restricted After Confiding With The Community 3

CZ X Account Faces Restriction Amidst Legal Turmoil

The change of the CZ X account follows CZ’s recent guilty plea to money laundering charges and subsequent resignation from the helm of the world’s largest cryptocurrency exchange. The plea was part of a substantial $4.3 billion settlement with the US Department of Justice.

Screenshot 2023 11 24 at 01.43.10
Source: X

Despite legal turmoil, CZ maintains his mental stability and expresses gratitude for the overwhelming support from the public and Binance users. He acknowledged challenges in responding to most messages amid the ongoing legal proceedings.

Known for his past jokes about early retirement, CZ found the reality unfolding sooner and in an unexpected manner. The legal actions against him involved money laundering and Know-Your-Customer rule violations, leading to a guilty plea for defaulting on anti-money laundering systems.

CZ is currently on a $175 million personal recognition bond, with restrictions prohibiting him from breaking the law or traveling abroad until his sentence is heard in February.

X-Musk Dynamics: Speculation Surrounds CZ’s Platform Restriction

The restriction on the CZ X account, owned by Elon Musk’s social networking platform X, raises questions about the possible connection between CZ’s recent statements and the action taken by the platform.

Notably, CZ once expressed a willingness to assist Musk during the latter’s interest in acquiring Twitter, which was subsequently rebranded as X. The intricacies surrounding CZ’s legal troubles continue to capture attention and speculation within the cryptocurrency community.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Binance CEO

Changpeng Zhao

CZ X Account

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.