Binance CEO Slams 5ireChain for Misusing Selfie

2024-12-19

Binance CEO Changpeng Zhao (CZ) has publicly criticized blockchain company 5ireChain for inappropriately using a selfie with him on social media platform X.

The incident unfolded when 5ireChain, a Dubai-based software development company, shared a photo of CZ and its Indian founder and CEO Pratik Gauri on X, accompanied by a cryptic caption “What’s cooking?” and a handshake emoji. This implied a potential collaboration between the two companies.

However, CZ swiftly took to X to clarify that the selfie was taken during a chance encounter and that no discussions or agreements regarding any collaboration had taken place. He expressed his disapproval of 5ireChain’s attempt to leverage the image for promotional purposes.

CZ emphasized that while sharing selfies with admired individuals is common, he would never endorse a project without explicit permission. He further questioned the ethics of using such a selfie for promotional purposes, suggesting that it should raise concerns among the community.

Following the backlash, 5ireChain deleted the tweet.

What Undercode Says:

CZ’s response highlights the importance of transparency and ethical conduct in the cryptocurrency industry. The incident underscores the potential for misuse of social media and the need for careful consideration when sharing content involving influential figures.

It’s crucial for projects to build genuine partnerships and avoid misleading the community through such tactics. By leveraging the influence of prominent individuals without proper authorization, 5ireChain not only damaged its reputation but also undermined the trust of the cryptocurrency community.

This incident serves as a reminder for both individuals and organizations to be mindful of their online presence and to prioritize ethical practices. As the cryptocurrency industry continues to evolve, maintaining a strong ethical foundation is essential for long-term success and community trust.