U.Today Franchise
F2Pool
0
📰 News
1166 views

Tron and Binance Get Banned on Weibo as China Cracks Down on Crypto

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    The accounts of Tron and Binance get shut down on China's Twitter

Tron and Binance Get Banned on Weibo as China Cracks Down on Crypto
Cover image via u.today

According to Dovey Wan of Primite Ventures, the official account of the Tron Foundation has been banned on Weibo, the biggest social media network in China with more than 400 mln active monthly users. This comes after Binance, the number one exchange in the world, suffered the same fate. 

👉MUST READ

Tron Price ‘Ready to Fly’ as Justin Sun Gives Away 50 Mln TRX to SRs

Tron Price ‘Ready to Fly’ as Justin Sun Gives Away 50 Mln TRX to SRs

Notably, the accounts Huobi and OKEx, two huge exchanges of Chinese origin, are so far up and running.     

Weibo claims "violation of law and regulation" is the reason for the ban, but "China's Twitter" failed to give any addition information on recent account suspension. 

Wan suggests that this clampdown serves as yet another confirmation of China's' "Blockchain, not Bitcoin" narrative. 

China has been dominating cryptocurrency headlines after President Xi Jinping officially embraced the blockchain technology despite banning Bitcoin back in September 2017. However, many falsely assumed that the communist state would also be ready to open its arms for cryptocurrencies that it is not able to control.

👉MUST READ

Bitcoin Called "First Successful Application of Blockchain" by State-Run Chinese Newspaper

Bitcoin Called

Earlier today, Changpeng Zhao, the CEO of Binance, confirmed that they had no plans for a Beijing office, dismissing numerous news reports as rumors. The Malta-based exchange left China in the wake of the Bitcoin ban, and it is yet to celebrate its homecoming. 

Back in October, Binance launched P2P trading in China, which might have drawn the ire of local regulators. Meanwhile, Tron has fallen out of China's good grace after local authorities allegedly started investigation into Tron CEO Justin Sun in July.  

Notably, both CZ and Sun can still use their personal Weibo accounts.   

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted
0
📰 News
1463 views

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted