Binance CEO CZ Raises Concerns Over Unauthorized Use of His Image in Project Promotions
In a recent turn of events, Binance CEO Changpeng Zhao, popularly known as CZ, expressed his disapproval of his image being used for project promotions without his consent. The incident raises concerns about the credibility of Fexanium, a cryptocurrency project focused on developing the decentralized finance (DeFi) ecosystem.
The issue came to light on May 21, when a Twitter user named Katherine, with a substantial following of 36,000, posted a selfie with CZ to promote the upcoming token presale of Fexanium. However, CZ swiftly responded to the post, stating, “Please don’t use a selfie with me in project promotions. I really don’t like it. I have nothing to do with the project. This is a big red flag for the project, in my opinion. 🙏”
Please don’t use a selfie with me in project promotions. I really don’t like it. I have nothing to do with the project.
This is a big red flag for the project, in my opinion. 🙏
— CZ 🔶 Binance (@cz_binance) May 21, 2023
The CEO’s response hints at a potential problem within the project, as CZ clearly distances himself from any involvement with Fexanium. The use of his image without permission raises questions about the project’s integrity and credibility. CZ’s explicit statement serves as a warning to potential investors to exercise caution when considering investments in Fexanium or any other project that employs similar tactics.
Although Katherine later removed the promotional post featuring CZ, Fexanium’s official Twitter account still retains a post made on May 11, which proudly highlights the project’s partnership with well-known crypto influencers on the TikTok platform.
We are proud to announce that we have officially partnered with Tiktok Influencer and also a trader who has many whales in his community. He will fully support Fexanium & escort us to Mars. ☀️
Funfact: He had a chance to chat face-to-face with @cz_binance , which means he’s not… pic.twitter.com/KKoCaRIQ1u
— Fexanium (@FexaniumDeFi) May 11, 2023
The tweet claims that these influencers have personally interacted with CZ in the past, suggesting a connection between him and the project. This incident sheds light on a potential practice of leveraging the images of crypto influencers to bolster credibility and attract investors without obtaining proper consent.
The situation serves as a reminder to conduct thorough research and exercise discretion before making any investment decisions. Relying solely on the information provided by projects and influencers can be misleading, as unauthorized use of images may create a false sense of endorsement. It is essential for investors to scrutinize projects, verify partnerships, and gather reliable information from credible sources before committing funds.
The incident involving CZ and Fexanium serves as a cautionary tale for the cryptocurrency community, urging individuals to be vigilant and aware of potential red flags. In an industry that thrives on trust and transparency, it is crucial for both projects and investors to uphold ethical standards and ensure proper consent is obtained when using the images or endorsements of influential figures.
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