As a seasoned crypto investor with a knack for staying informed about the latest developments in the blockchain industry, I find myself constantly reminded of the importance of vigilance and critical thinking. The recent warning by Changpeng Zhao (CZ), a figure I have long admired for his contributions to the crypto space, serves as yet another stark reminder of this truth.
Changpeng Zhao, one of the founders and previous leaders at Binance, the biggest cryptocurrency trading platform globally, recently sounded a significant alert to the entire digital currency community.
The warning is about deepfake videos, in which CZ promotes crypto. Zhao urged users to beware and not fall for them. CZ specified that he found these deepfakes videos are circulating other social media platforms, but not on X.
“There are deepfake videos of me on other social media platforms. Please beware!” he tweeted.
If someone playfully questioned whether in those deepfakes it appeared that CZ was seen consuming a six-pack of beer, the cryptocurrency influencer clarified that such videos feature his AI-created likeness promoting a cryptocurrency he’s never even come across before.
With advancements in artificial intelligence, fraudsters are increasingly leveraging its capabilities. By the year 2024, as per Charles Hoskinson, the founder of Cardano, it might become challenging to distinguish AI-generated deepfakes from authentic videos featuring genuine influencers.
According to U.Today’s report, approximately two weeks ago, Changpeng Zhao was freed from prison following a four-month term that commenced in May. Last November, the United States Department of Justice indicted Changpeng Zhao and Binance for alleged violations of US securities law. Specifically, CZ faced charges for assisting certain exchange users in laundering money through trading activities.
In a significant turn of events, Binance consented to pay a massive penalty exceeding $4 billion, and its CEO, Changpeng Zhao (CZ), relinquished his role at the helm. Richard Teng, a top-tier executive within Binance, was chosen as CZ’s replacement. Following his release from prison, Teng imposed a permanent ban on Zhao from managing Binance again, which was essentially the primary prerequisite for CZ stepping down initially.
Prior to his incarceration, CZ initiated an online educational platform named Giggle Academy, aimed at underprivileged kids, offering them lessons in subjects such as blockchain, English, and math – all free of cost. Additionally, he explored the biotechnology sector with ambitions to merge cryptocurrency into it. CZ’s release occurred concurrently with the anticipated “Uptober” period, leading many to speculate that Bitcoin would surge to a new record high after these events and the Federal Reserve’s reduction of the interest rate by 50 basis points. However, contrary to predictions, this bull run has yet to materialize.
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2024-10-12 11:04