Another round of deactivating crypto-related accounts has been witnessed in China. This time around, Weibo has deactivated accounts belonging to Binance BTC, OKEx, and Huobi. Perhaps this is in line with China’s stand to reduce crypto-related activities in the country.
The move is similar to what happened yesterday when accounts of popular personalities with thousands of followers on Twitter were suspended for no reason. Twitter suspended accounts owned by Willy Woo, PLanB, and CarlRunefelt, who are respected crypto analysts, influencers, and enthusiasts. The other account that was suspended is that of Koroush AK, the chairman of WSB and a famous influencer.
Although there is no reason given why the leading Chinese social media Weibo decided to take such an action, it is speculated that the giant social media fears competition and is heading the government’s directives.
But it is difficult to understand why it suspended the Binance account even though the company has no footing in China’s mainland. However, Binance controls a major part of the crypto market, and there is that fear that they may use their popularity to influence the Chinese Nationals.
So, the Chinese government is doing everything it can, including deactivating accounts to stop the influencer’s activities in its markets.