- Tron CEO Justin Sun Account barred on Chinese Twitter
- Failed marketing stunts
Tron’s CEO Justin Sun gets expelled from the largest Chinese microblogging website. According to Dovey Wan of Primitive Ventures, Tron CEO Justin Sun was banned from Weibo, the biggest microblogging platform in China. This is the second time Weibo is expelling accounts linked to Tron and Binance. In November, Binance’s channel and Tron Foundation was blocked.
In a tweet by DoveyWan, he stated: “BREAKING and FINALLY … @justinsuntron’s Weibo (Chinese Twitter) account is now officially SHUT DOWN, I’m not surprised given how loud he has been on Weibo even after the Buffet Lunch/kidney stone drama… “Blockchain, not crypto”, and of course, not TRON.”
Failed Marketing Stunts
Sun got in trouble in his territory after being overly loud about his lunch with Warren Buffett that, sadly for Tron fans, never materialized. Wan stated that Sun did not learn from his past mistakes after that drama and continued to be “loud” on Weibo but the platform finally decided to shut him down. Sun faced a lot of criticism of his aggressive marketing strategies that include the popular failed Tesla giveaway.
TRON (TRX) Price Today – TRX / USD
On November 15, 2019, Weibo expelled the official accounts of Tron and Binance for “violation of law and regulation”. Wan states that the account of Binance and its CEO Changpeng Zhao are still active. Binance CEO was quick to weigh in on Weibo banishing Sun, stated that it approves a need for a decentralized social media protocol that was recently projected by Jack Dorsey.
Replying to Wan’s Tweet, @cz_binance stated: “I don’t use Weibo much anyway. Guess we are going to need that protocol-based social media sooner than we think. Were we just talking about it today?” In his defense, Sun states that Tron is “super safu” while vowing to resolve the sad situation quickly. China has decided to double down on its cryptocurrency restriction after President Xi Jinping’s approval of the blockchain technology. A new wave of interest in the projected asset class. Currently, China still controls 66% of the share of Bitcoin’s global hash rate despite banning the top cryptocurrency in September 2017.
Tron Price Update – As we near the end of the year, TRON is currently ranked in the 14th position by market cap. On Thursday, the value of TRX coins declines to $0.013536, making it a 4.3% decline which occurred in the space of thirty minutes. The stumble in TRX’s fortunes seemed to correspond with the Weibo news.