Justin Sun’s Weibo Account Banned: TRX Slumps Mildly

The Weibo account of the founder and CEO of a popular blockchain company TRON was recently banned for unknown reasons. Justin SUN, who is known for sometimes dirty marketing tactics, has been silent on Chinese Social Media known as Twitter of the Mainland and some people are very happy about it.

Regardless of what the reason was for Sun to have his account shut down, it was pretty obvious that TRX would suffer from it greatly. As of today’s metrics, the TRX/USD pair has lost around 1% of its valuation which may not seem much for most. But considering the relatively “cheap” price of TRX, many people have significant sums invested in the coin, thus having the 1% affect them on an extreme level.

TRON CEO has already addressed the issue via an official announcement and asked his Weibo followers to switch over to Twitter. Although it’s best to keep all of the info on one platform, it’s important to note that the majority of TRON investors are Chinese nationals without English knowledge, meaning that Weibo was their only source of information on their investment.

As already mentioned though, many people are happy with this event considering the drama and controversy that Sun spiked earlier this year when he promised to have lunch with billionaire Warren Buffet. Needless to say, lunch never happened and TRX remained stagnant.

Image courtesy of Pandaily