Hot search keywords

Hot search keywords

Like Binance, Weibo Blocks TRON’s Justin Sun Account

The Weibo account of TRON’s Justin Sun has reportedly been shut down by the social media site. No particular reason was immediately given for the action but there are suggestions that the Weibo account (as well as Binance’s which was shut down last month) could have been used to promote ICOs hence the ban since such is illegal in China.

Sun is a power social media user including on Twitter even though the TRON project which he spearheads has been criticized severally for being centralized and he has been involved in controversial issues like a suspended lunch with one of the richest men in the world, Warren Buffet. His Weibo account being down can hinder access to his Chinese base.

While it didn’t come to some in the crypto space as a surprise considering “how loud” Sun has been on Weibo, others question the element of censorship in the act particularly as the ecosystem claims to support and advocate for decentralisation.

Touching on Binance, its newly-opened Weibo account and that of its CEO, Changpeng Zhao (or CZ), are still active. But Binance co-founder Yi He’s account has been blocked to which she claims a couple other “Chinese crypto influencers’ accounts were also blocked” and such is not new in China.

Another Weibo account registered by Sun after the initial shutdown reportedly got banned too and has led to more accounts associated to him being created. Responding to the development, Sun maintains that “TRON is super #safu!” and that they have “a direct channel to Weibo and will get this resolved asap.” 

Binance’s CZ claims he rarely uses Weibo but that the unfolding situation is a reminder that users “need that protocol-based social media sooner than we think” and it gives him an opportunity to “add that (decentralized social media) to the list of encouraged-ideas.” CZ also indicates his willingness to work in support of the idea of an open and decentralized social media as recently proposed by the founder of Twitter, Jack Dorsey.

This is not the first time the Sun and CZ duo would be roped into an ensuing matter. As estimated that Binance controls approximately 56% of TRON’s voting power based on a staking arrangement, Sun and CZ were targets of criticism after DGB, a UTXO blockchain with a proof of work mining algorithm like Bitcoin, was put up to be delisted from Poloniex crypto exchange for non technical issues earlier this month.

The notice coincides with a claim by the founder of DGB, Jared Tate, that the exchange “has turned into a $TRX (TRON) shill factory after making off w/ US customers sensitive data”. Poloniex’s notice was seen as a response to a complaint or voiced negative criticism of its activities leading to a social media spat aimed at Sun and CZ.

Sun’s involvement stemmed from his rumoured investment in Poloniex after the exchange spin out from Circle into a new company called Polo Digital Assets, Ltd in October. The new company is said to have “the full backing of a major Asian investment group, who plans to spend more than $100M to develop” it.

The delisting episode brought up debates over exchanges being centralized or decentralized, as well as issues of profit and control – exchanges can list or delist any token they like including DGB whose trading volumes have allegedly dropped at the time. Calls were made to boycott Poloniex for the move regardless of whether Sun supports their operation in any way as the exchange struggles to survive in a bearish crypto market like others.

Please sign in first