Binance Weibo Account Blocked

Hey ninjas, how’s the trading going? On the day the majority of the top cryptocurrencies are reporting losses on the day with the largest cryptocurrency Bitcoin trading at $8,464 at press time. 

Chinese microblogging website has blocked the official account of Binace. The official account of Binance was blocked on the 13th of November for violating the site’s policies, news of the development was reported by China times on the 5th of November.

Binance’s official Weibo account is blocked at press time with information such as its posts and followers are unavailable, the account displays a notice explaining that the account violated policies of the Weibo community convention.  

There was speculation on the cause of the blocked page, Zhu Hongbing, the chairman of the Blockchain technology foundation in Singapore reportedly told the China Times that the suspension of the Binance Weibo account is connected to the company’s decision to accept Fiat currencies using Alipay and Wechat.

Changpeng Zhao, the CEO of Binance confirmed on the 9th of October that Binance has officially started accepting Fiat payments through Alipay and Wechat. After the announcement was made Alipay stated on the 10th of October that it will be banning all transactions connected to cryptocurrency. 

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