Binance CEO Changpeng Zhao has advised Elon Musk to solve the problems of spam and bots on X (Twitter) before removing the block option.
CZ said this in response to Musk’s announcement that the social media platform would remove the block option except for Direct Messages.
According to Zhao, blocking has been the only way to forget about bots. So, removing it will lead to more problems if the bots are not eradicated from the platform first.
He also shared a screenshot of several bot accounts impersonating him, which he has blocked, noting that he does not know the exact number of blocked bots, but they are a lot.
Meanwhile, CZ also added that he would love to see X add crypto as a payment option for the verified badge. Binance is an investor in X.
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Although Twitter has rebranded to X, some of the social media platform’s problems persist, and the prevalence of spamming is notable. Bots have become especially problematic in Crypto Twitter, where they spam users with various scams.
The bot problem has continued despite Musk’s attempts and claims that it has reduced. This has led many to conclude that the social media platform is likely benefiting from the existence of these bots.
Before taking over Twitter, Musk was a prominent critic of bots and even tried to back out of the deal to hit the company because of the number of bot accounts on it.
According to recent research by Network Contagion Research Institute, bots on Twitter helped to pump the price of several cryptocurrencies, including those traded by Alameda Research and listed on FTX.
The NCRI study analyzed over 3 million tweets about 18 cryptocurrencies between January 1, 2019, and January 27, 2023. It found that Elon Musk mentioning altcoins in his tweet caused the value of these assets to increase by more than 50%.
The research also discovered that Musk’s tweets drove organic online conversations about such tokens and led to increased promotions of the tokens by bots.
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The post Binance’s CZ Urges Elon Musk to Solve X’s Bots Problem Before ‘Blocking’ Removal appeared first on bitcoinlinux.
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