Binance CEO Says This Recent Event May Signal a Bull Market

Binance CEO Changpeng Zhao (CZ) published a tweet on Wednesday noting that China Central Television (CCTV) recently aired a broadcast related to digital assets.

The executive claimed that similar coverage has served as a catalyst for crypto bull runs in the past.

• CZ provided a link to broadcast which aired on May 23, and included a 98-second segment about Hong Kong regulators “enforcing a compulsory licensing system for virtual asset trading platforms,” ​​which began on June 1.
• The news itself wasn’t entirely positive for the industry. SFC Guidelines including rules not encouraging retail trading through stablecoins, and other explicitly banning crypto “gifts” (including airdrops).
• Still, CZ sees the act of circulating crypto as a massive rapid development, calling it a “big deal.”
• “The Chinese-speaking community is buzzing,” he said. “Historically, this kind of coverage led to bull runs.”
• The CEO clarified that his tweet was not “financial advice” and that the past does not predict the future.
• Mainland China Has Banned Crypto Completely, But Hong Kong Has Picked Up press With the ambition of becoming a regional crypto hub. Despite China’s Ban, a Large Part of Bitcoin Mining Activity Is Still Going On thrive In area.
• In his answer, CZ Agreed With one commenter saying that a bull market cannot effectively happen without the Chinese people being involved.
• CZ was born in China, but has been a Canadian citizen since the age of 12. he is emphasis on On many occasions that Binance is not a Chinese company.