Chinese social media platform Weibo has deactivated the accounts of Bitcoin trading exchanges Huobi, OKEx, Binance, and MXC, according to a report.
- Weibo said Huobi’s account was deactivated due to “abnormal practices” and was a safety risk. There was no clear indication provided for the decision. Huobi said it is in communication with Weibo on the matter.
- Parties involved have yet to release official statements on the matter.
- Weibo in 2019 banned Binance Holdings ltd. and Tron when watchdogs called for a cleanup of firms involved in crypto trading. Binance appealed for a reversal and may have to do so again.
- The government earlier shut down Bitcoin and other crypto mining farms. It also banned mining projects in Inner Mongolia in efforts to meet energy efficiency targets.
- Twitter also suspended at least six crypto-related accounts, including Willy Woo and Plan B. The accounts were recovered, but the suspension led to Woo losing most followers.