Market News- Justin Sun denies arrest rumours amidst FUD spread in the crypto community.
- Binance CEO CZ emphasizes compliance and education amid regulatory investigations.
- TRX experiences bearish sentiment following FUD reports and drops in price
Recently, Justin Sun, the creator of Tron (TRX), spoke out to the public following a rumour circulating within the cryptocurrency community claiming he had been arrested. The speculation emerged after a tweet from the ex-diplomatic representative for Grenada to the World Trade Organization (WTO), which contained the number “4” – a symbol used by Binance CEO Changpeng Zhao to denote fear, uncertainty, and doubt (FUD).
BREAKING 🚨
****JUSTIN SUN ARRESTED IN HONG KONG ****
-SOURCE AT LOCATION
AUTHORITIES HOLDING SUN AT MICHINAWANAMUN STATION 🚨🚨🚨
-MORE TO COME.
— Crypto Bitlord (@crypto_bitlord7) April 11, 2023
Binance’s CEO, Chanpeng “CZ” Zhao, has been quite vocal about the status of the cryptocurrency market on his personal Twitter account. Moreover, CZ has promoted the use of “4” as a response to reports of regulatory steps taken targeting crypto-friendly organizations throughout the globe.
4
Not for myself. Just really sad to see people spreading FUD in the industry. I unfollow / block them.
— CZ 🔶 Binance (@cz_binance) April 11, 2023
His use of “4” calls to ignore fear, uncertainty, doubt, fake news, and attacks and focus on education, compliance, product, and service. According to the Binance executive, it is crucial to prioritize these aspects of the industry rather than being distracted by negative news.
CZ Prioritizes Compliance and Education Amid Ongoing Regulatory Investigations
CZ’s active participation in the ongoing discussion highlights the importance of staying-focused on the fundamental aspects of the crypto industry. As a result, it majorly includes compliance and education. Despite regulatory actions, CZ emphasizes prioritizing delivering high-quality products and services to customers while remaining compliant with regulations.
Recently, rumours spread in the media that the cryptocurrency mogul was in talks with CZ to take over the acquisition of Huobi Global by Binance.
In the past 24 hours, TRX has experienced bearish sentiment in response to FUD reports. Additionally, the digital token’s price decreased by 0.91% and was traded at $0.06642.
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Source: https://thenewscrypto.com/justin-sun-breaks-silence-on-arrest-rumours-its-just-fud/