CZs Crypto Footage Retweeted by China CCTV Removed

CZs Crypto Footage Retweeted by China CCTV Removed

CCTV's recent video segment on cryptocurrency compliance in Hong Kong caught the attention of the crypto community and Binance CEO, but was surprisingly removed, raising concerns about its credibility and authenticity.

Chi­na Cen­tral Tele­vi­sion (CCTV), the nation­al tele­vi­sion broad­cast­er of Chi­na, recent­ly aired a video seg­ment dis­cussing dig­i­tal cur­ren­cy com­pli­ance in Hong Kong. The seg­ment caught the atten­tion of the cryp­tocur­ren­cy com­mu­ni­ty, includ­ing Binance Cryp­to exchange CEO, but surpis­ing­ly the video is removed by CCTV.

CCTV Cryptocurrency Coverage

The con­tro­ver­sial video came into the spot­light when Chang­peng Zhao, the CEO of Binance Cryp­to exchange, retweet­ed it. CZ implied that media cov­er­age of dig­i­tal cur­ren­cies has his­tor­i­cal­ly trig­gered pos­i­tive mar­ket trends. He said:

“Cov­er­ages like these led to bull runs.”

Nonethe­less, he was quick to clar­i­fy that past per­for­mance doesn’t guar­an­tee future results. Giv­en the present state of the dig­i­tal cur­ren­cy eco­log­i­cal sys­tem, CZ believed that such pos­i­tive  ten­den­cy events could serve as a much- required cat­a­lyst for mar­ket recov­ery.

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Adding to the intrigue is the rev­e­la­tion that the Solana (SOL) Meme­coin SAMO, fea­tured in the removed video, was involved in pump and dump activ­i­ties. This dis­cov­ery rais­es con­cerns about the authen­tic­i­ty and inten­tions behind the seg­ment, cast­ing doubt on its cred­i­bil­i­ty.

Read More About Cryp­tocur­ren­cy Rug Pulls..

China And Crypto

CCTV’s deci­sion to air a seg­ment on dig­i­tal cur­ren­cy com­pli­ance in Hong Kong was sur­pris­ing giv­en the nation’s strict stance on cryp­tocur­ren­cy. It seemed to indi­cate a poten­tial shift in China’s reg­u­la­to­ry approach and inti­mat­ed at a recon­sid­er­a­tion of its views on dig­i­tal cur­ren­cies.

China’s ban on cryp­tocur­ren­cy trans­ac­tions in 2021, includ­ing the pro­hi­bi­tion on finan­cial insti­tu­tions sup­port­ing dig­i­tal cur­ren­cies and the exo­dus of Bit­coin (BTC) min­ers, has pro­found­ly influ­enced the country’s rela­tion­ship with dig­i­tal cur­ren­cies. This has caused a notable decline in the min­ing hashrate.

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Read About Cryp­tocur­ren­cy Ban In Chi­na..

Regard­less of the rea­sons behind CCTV’s deci­sion, this inci­dent under­scores the whole lot of role that media cov­er­age plays in the dig­i­tal cur­ren­cy mar­ket. News and infor­ma­tion have a sub­stan­tial impact on investor sen­ti­ment and mar­ket trends, par­tic­u­lar­ly in an indus­try as sen­si­tive to exter­nal fac­tors as cryp­to.


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