Changpeng Zhao (CZ), CEO of Binance, the world's largest cryptocurrency exchange, made a suggestion to Elon Musk for the improvement of Twitter.
Binance CEO CZ Presents His Proposal To Elon Musk To Reduce Bots
CZ suggested on Twitter that people should have the option to charge as little as $0.X to allow non-followers to comment on their own posts.
According to CZ, this way, Twitter will be purged of bot accounts due to its high cost, and it will also provide Twitter with another source of income. In addition, a portion of the proceeds will go to the owner of the Twitter address.
CZ also said that this payment feature can be easily implemented with cryptocurrencies:
“Another way to reduce bots and increase revenues could be to add the option “people you don’t follow must pay $0.x to comment”. This would make the case expensive for bots and could easily be implemented with crypto as well. Twitter can take a share, increase its revenue. I will donate all my proceeds to charities.”
Another way to reduce bots and increase revenue is to add an option “people you don’t follow need to pay $0.x to comment”. This will make it expensive for bots, and can be easily implemented with crypto. Twitter can take a cut, increased revenue. I will donate all my proceeds to… https://t.co/a2iETArO91
— CZ 🔶 Binance (@cz_binance) April 22, 2023
However, CZ recently said that he started to follow some of the people who commented on his Twitter posts randomly. After that, some of the people CZ followed started selling their accounts to scammers, and some scam meme tokens were advertised from these accounts.
Since these accounts were followed by CZ, a perception of trust was created, so that fraudsters could more easily deceive their victims.
CZ said that he unfollowed the accounts in question and also blocked them. CZ also warned crypto users not to lose money in such meme tokens:
“Apparently there are groups of people trying to buy accounts I follow and then trying to mine meme tokens. I unfollow them and block them.
Don't mess with those meme coins either. Understand the risks.”
*Not investment advice.
