Active Twitter user Changpeng Zhao, or CZ, CEO of the giant crypto-currency exchange Binance, explained his use of social networks, which has played a key role in engaging his exchange with the community.
CZ said that his Twitter activity is not part of any general objective. „It’s really a way to interact with our community, which I spend about 20% of my time on,“ CZ told Cointelegraph.
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The role of CZ enTwitter has been strong since the beginning of Binance
CZ said it has given social networks this kind of attention since the early days of the exchange. Binance started its initial offer of coins, or ICO, in 2017, becoming one of the major players in cryptomonics in the following years.
Binance actually used the Chinese messaging platform WeChat at first, CZ said. When group restrictions of 500 people on the platform became a problem, CZ switched to Slack.
After leaving Slack due to security problems, Binance switched to Telegram, where the exchange now hosts hundreds of thousands of participants. „Today, if I go in there, it immediately becomes an AMA session,“ CZ said, adding:
„With a lot of users chatting together, what I say only stays on the screen for two seconds. It just moves too fast. It’s very difficult to see the chat history.
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The CEO sees Twitter as an effective way
CZ noted that Twitter is effective for its commitment to the community today, as the platform allows for a wide audience. „Personally I don’t have a strategic goal by tweeting,“ said CZ. „I’m only myself when I tweet,“ he explained.
Binance has a large presence in social networks, which, according to CZ, is the result of its interaction and that of the company with industry participants.
„Part of that is also my unfiltered expressions that can also come with some criticism, and my intention is never to hurt anyone, even when Twitterverse tries to stir up the hornet’s nest. Nobody’s perfect and we’ve all had our share of mistakes. I think it’s important for the community to know who we are, how we think, etc.“
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The CEO said he puts significant effort into listening to the community as well as the fellowship through interviews and other formats, leading to the ultimate improvement of Binance.
Binance has become a giant company, not only by industry standard, but in general, as it recently surpassed 1,000 employees, counting an astonishing 2,000% increase in less than three years.