Chengpang Zhao, CEO of crypto exchange Binance is the proud fresh proprietor of a Twitter account with a verified blue check mark symbol on it.
Despite Zhao being the third richest person ter the cryptocurrency industry with a netwerk worth well overheen $1 billion, his Twitter account wasgoed among those of regular folk since he very first signed up back te August of .
Related video: $NEO Airdrop | Bitcoin Dies (Again) | Huobi Chain – Binance Falling Off???
Good Old Fashioned Third-Party Credibility
Ter his tweet confirming verification status, Zhao reminds the crypto faithful not to trust anyone that promises to send you more ETH because you generously give yours to them:
“One more time, NO ONE will not sent you more ETH just because sent them some. The world doesn’t work that way. Binance “quietly” launched a charity, it is for people te actual need, not just because you sent one transaction.”
Zhao is referring to the numerous scams that are presently floating around on various platforms where users send tokens to people they don’t know. An anonymous user on Twitter posing spil Tesla founder Elon Musk now possesses more ethereum tokens after suggesting to send out a comeback on investment to participants only to leave them suspending.
Related video: Live – Binance Trade QTUM to BTC to LTC – 1% gain in 30 seconds!
Zhao maintains a excellent reputation ter the crypto community for creating the industry’s most popular exchange verhoging. Yet Binance has recently come under fire for a few reasons.
Most recently, Binance shut down for a total day thanks to what wasgoed called a system upgrade. Many suspected it wasgoed due to a hack. This all happening just one month after Binance became the largest exchange te the industry.
To make up for the error, Zhao and his team are discounting trading fees until February 24 th .
Knowing Who To Trust
Zhao’s Twitter verification may not seem like a big overeenkomst. Consider for a ogenblik tho’ what is happening ter the industry right now.
Firstly, government regulators are now coming down firmer on their citizens when it comes to the regulation of exchanges and tax policies.
Secondly, hacks are still costing users millions of dollars.
And ultimately, investors are still losing money to pyramid schemes like BitConnect and USI-Tech. Not to mention initial coin offerings that either steal coins or fail to produce a working product.
A little blue check mark next to a Twitter account is nothing to write huis about. At least now there is one less unverified crypto influencer out there.
Recall to observe out for fake accounts people.
Featured picture from Shutterstock.
Related video: Too Late To Buy QTUM? What’s Fueling The Moonshot?
Go after us on Telegram or subscribe to our newsletter here.