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Qiao Changpeng, co-founder and former CEO of Binance, the world's largest cryptocurrency exchange, has issued an important warning to the global cryptocurrency community.
This warning concerns a deepfake video in which CZ promotes cryptocurrencies. Zhao urged users to be careful not to be fooled. CZ said he has discovered that these deepfake videos are circulating on other social media platforms, but not on X.
“Other social media platforms have deepfake videos of me. Be careful!” he tweeted.
When someone jokingly asked if CZ was seen drinking a six-pack of beer in these deepfakes, the crypto influencer said they were his AI-generated models that he had never heard of. He said it was a video promoting no virtual currency.
As AI becomes increasingly sophisticated, fraudsters continue to use it more aggressively. As 2024 begins, Cardano founder Charles Hoskinson comments on his deepfake video promoting a fraudulent ADA airdrop, and in a few years AI deepfakes will be distinguishable from real videos by real influencers. He said that it would be difficult to understand.
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As U.Today reported almost two weeks ago, CZ was released from prison after completing a four-month sentence that began in May. Last November, the US Department of Justice indicted Zhao Changpeng and Binance for violating US securities laws, and CZ was personally charged with aiding and abetting money laundering by some of the exchange's customers through trading.
Binance agreed to pay a hefty fine of over $4 billion, and CZ resigned as the platform's CEO. Binance senior executive Richard Teng has been appointed to take over the position from CZ. After Mr. Zhao was released from prison, Mr. Teng prohibited him from running Binance again, which was the main condition for CZ to leave the position in the first place.
Before going to prison, CZ launched a new educational online project called Giggle Academy, which teaches underprivileged children subjects such as blockchain, English, and math for free. He also had his eye on the biotech space and the opportunity to incorporate cryptocurrencies into it. CZ's release coincides with the expected start of the “Uptober,” with many believing Bitcoin will hit a new all-time high after these two events and the Fed cut interest rates by 50 basis points. I expected it to start a bull market. Contrary to many expectations, so far that has not happened.
