Justin Sun Having Trouble with Weibo Account?
Fears of censorship were raised after reports of Weibo banning the accounts of Sun and Changpeng Zhao were raised in the past days.
Justin Sun, co-founder of TRON, seems to be having troubles with Weibo, one of the best-used chat services in China. Reports also surfaced of Sun attempting to build new profiles on the platform, and it is currently uncertain which one is the real profile.
Dovey Wan, co-founder of Primitive Crypto, has been observing the accounts scandal.
Weibo, known as the “Chinese Twitter”, is one of the platforms where Sun spreads the messages related to TRON popularization. But the platform audience also had a backlash against Sun for his overly-loud self-promotion.
Weibo has also reportedly blocked the accounts of Binance’ CMO He Yi.
Currently, there is no clarity on which hs the real Weibo handle, and caution is advised. Impersonating Justin Sun is one of the latest scams in the crypto space, where fraudulent actors are trying to sell faked TRON-based Tether (USDT).
TRON has been dropping down the charts, after sinking to position 14 based on market capitalization. TRX traded at $0.014, stagnating at a new level of stability. The TRX asset is getting a boost from the attempts of Poloniex to promote TRX-20 tokens and TRON-based USDT.
The Weibo episode re-sparked the idea of censorship and of promoting some projects while censoring others. TRON is among the most prominent Chinese platforms, but its activities related to gambling also mean it is not getting as much support from the Chinese government.
A stance of “blockchain not Bitcoin”, some projects gain support for their underlying protocols, but the usage of actual digital coins is being discouraged.
The TRON network is also observing the expansion of the DDOS token, of which another 1 million tokens were minted in the past day. Now, the supply is above 77 million, with the potential to run for about 14 more months. The knowledge of the DDOS token is spreading relatively slowly, targeting Chinese buyers. So far, DDOS lacks reliable pricing information, unlike EIDOS on the EOS network.