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The owner as well as Chief Executive Officer of Tron, Justin Sunlight, saw his account on social media sites system Weibo closed down. While the Chinese variation of Twitter provided no description regarding why his account as well as the account of Binance founder Yi He were gotten rid of, Sunlight guaranteed the crypto area that he had a “straight network” to Weibo which the concern will certainly obtain fixed quickly.
Justin Sunlight’s Weibo account closed down
Weibo closed down the accounts of 2 noticeable crypto numbers—the owner as well as Chief Executive Officer of Tron, Justin Sun, and Yi He, one of the founders of crypto exchange Binance.
Dovey Wan, the founder of venture capital firm Primitive Ventures and a regular source for crypto-related news from China, revealed the information on Twitter. However, Wan noted that the removal of Sun’s profile was not surprising, as the Tron founder was notoriously outspoken on the platform.
The co-founder and CMO of cryptocurrency exchange Binance, Yi He, was also inexplicably removed from the platform. According to screen grabs from both of their profiles, the accounts have been blocked “due to violations of laws and regulations, as well as the relevant provisions of the Weibo Community Convention.”
No other major names in the Chinese crypto industry had their accounts blocks, with Binance CEO Changpeng Zhao, Huobi CEO Leon Li, and OKCoin founder Star Xu all remaining on the platform.
Sun says everything is under control and profile removal was a mistake
The outspoken founder of Tron quickly reacted to the news about his profile getting removed from Weibo. In a reply to Wan, Sun assured his followers that this posed no danger to Tron or its native cryptocurrency TRX. He also added that the company has established a “direct channel” to Weibo and is working on getting the issue resolved as soon as possible.
The news about Sun’s removal from Weibo affected Tron’s price. According to data from CryptoSlate, the coin tanked 7 percent when the news broke, dropping from $0.014 to $0.013 in minutes. At press time, TRX seems upward bound and gearing up for a full recovery.
Weibo’s latest account purge is in line with the crypto crackdown that has been going on in China for the past few months. Earlier in November, the official accounts of Binance and Tron were suspended on Weibo as China’s financial watchdogs clamped down on companies involved in crypto trading.
The Chinese government has focused on pushing blockchain development in the country. The effort, spearheaded by the country’s president Xi Jinping, was supported by the People’s Bank of China, which aims to introduce better regulations to the blockchain and fintech industries.
Posted In: Tron, China, Altcoins, Crypto Exchanges, People of Blockchain, Technology
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Priyeshu is a software application designer that is enthusiastic regarding artificial intelligence as well as blockchain modern technology. He holds a design level in computer technology design as well as is an enthusiastic economic expert. He constructed his very first electronic advertising and marketing start-up when he was a young adult, as well as dealt with numerous Ton of money 500 firms together with smaller sized companies. When he is not fixing transport troubles at his firm (Ola), he can be discovered blogging about the blockchain or roller skating with his buddies.
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