Reports circling in Chinese media claim that Zhao Dong, head of the over-the-counter (OTC) crypto loaning platform RenrenBit, has been confined by nearby police.
The legitimacy of these reports isn't known right now. Some state Dong is as of now in a police headquarters in Hangzhou, others guarantee he is in Yancheng.
Matthew Graham, head of Sino Global Capital, said through Twitter that reports about Zhao's present circumstance appear "affirmed."
RenrenBit supposedly working "not surprisingly"
Graham explains that being kept isn't equivalent to being captured. He takes note of that the supposed detainment might not have anything to do with RenrenBit's tasks.
Citing RenrenBit representatives, Chainnews gave an account of July 2 that "the entirety of the organization's staff have turned up for fill in obviously."
Notwithstanding his job at RenrenBit, Zhao is known for being a speculator behind the crypto trade, Bitfinex.
Is Zhao associated with unlawful crypto exchanging exchanges?
Chainnews charges that the head of RenrenBit has been helping out the Chinese specialists identified with doubts of supposed misrepresentation exchanges performed by the organization.
Zhao expressed in 2019 that he accepted that the crypto spring will just come in 2020. When gotten some information about the eventual fate of Bitcoin (BTC), Zhao Dong reviewed the pinnacle of the coin's ubiquity in December 2017.
In contrast with that time, nobody thinks about BTC today, he noted, including that the coin will possibly draw consideration when it comes to "a huge number of thousands of dollars" by and by.
Posted Using LeoFinance
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered fraud and violate the intellectual property rights of the original creator.
Fraud is discouraged by the community and may result in the account being Blacklisted.
If you believe this comment is in error, please contact us in #appeals in Discord.