Cryptocurrency giant Binance finds itself in hot soup. According to Forbes, Binance has been falsely accused of having ties to the Chinese Communist Party. These allegations arose after someone weaponized ChatGPT, an OpenAI AI bot, to spread false information regarding Binance Chief Changpeng Zhao.
Congressional offices sent messages to Binance to determine if CZ had worked on a social media platform for the China National Petroleum Corporation (CNPC), a majority-state owned enterprise. The firm was further put under scrutiny to establish whether CZ was an official in the Chinese Communist Party or not.
In its efforts to find the truth, Binance came across a fabricated LinkedIn profile pretending to be CZ as well as an old Forbes article that has been deleted. When ChatGPT was asked about CZ’s relation to CNPC or whether he is a member of the Chinese Communist Party, it couldn’t give a straight answer. Instead, the AI alluded to the fact that CZ may have had exposure to or supported Communist ideals.
To authenticate its claims, Binance US asked the same questions to Sensei, an AI chatbot by the firm, which suggested that to find out more, users should speak to CZ himself. After all, Binance had long denied that the firm has any ties to China even though its co-founder, who was born in the country, back returned to it as an adult, and built a career in the tech industry here. In 2021, the firm finally delisted all Chinese Yuan-based trading pairs, though the white paper of its own Binance Coin (BNB) was published in English and Chinese.
Binance, the world’s largest cryptocurrency exchange by trading volume and users, was founded in 2017 by Changpeng Zhao, commonly known as CZ. CZ has built a formidable global product, tightening the grip of the platform over the crypto markets. He is a self-made technology billionaire, having risen from humble beginnings to becoming one of the influential people in the world of blockchain technology.
