TL;DR: China-based journalist Cindy Wang is reporting Tron founder Justin Sun and popular cryptocurrency exchange Binance co-founder He Yi have been booted off of Weibo. The platform, formally known as Sina Weibo, is billed as the Chinese version of the microblogging site, Twitter.
Tron, Binance Co-Founders Banned by Sina Weibo
“Breaking news: Chinese twitter ‘Sina Weibo’ just banned @justinsuntron and @binance’s cofounder He Yi’s Weibo accounts,” Wang claimed. “The official weibo account of Binance was already banned last month. Time to dump Tron and BNB?” CoinSpice reached out to both Binance and Tron, as well as Sina Weibo, for comment and will update as details emerge.
In mid-November, Weibo announced of Binance, “The account has been blocked due to violations of laws and regulations and the relevant provisions of the Weibo Community Convention.” It wasn’t immediately clear then, as it isn’t now, why the account was targeted. The Tron Foundation suffered a similar fate not too much before Binance, though exchanges such as OKEx and Huobi appear active and in good standing as of publication.
Sina Weibo is publically traded (NASDAQ: WB), and has been around for slightly over a decade. It boasts nearly 450 million monthly active users, and is considered a massive financial juggernaut with still greater potential. It is among the key ways for businesses to communicate their messages to the giant and very coveted China market. With Weibo’s success have come calls for it to self-regulate, curbing use by minors under 14 and, more recently, to prohibit accounts promoting pornography. How the uneasy relationship between crypto and China plays into such calls is still very much unknown.
In the case of Binance, last month a report surfaced offices in China had been both raided and shut down by authorities. The exchange’s CEO raged against the crypto news outlet article and its assertions, threatening a lawsuit against what he called FUD and false reporting. This summer, both Justin Sun and Tron ran into alleged issues with Chinese authorities as well. Video appeared to show Tron offices being raided, and weeks later local media asserted Sun himself was not allowed to leave the country.
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