Reviews circulating in Chinese language media allege that Zhao Dong, head of the over-the-counter (OTC) crypto lending platform RenrenBit, has been
Reviews circulating in Chinese language media allege that Zhao Dong, head of the over-the-counter (OTC) crypto lending platform RenrenBit, has been detained by native police.
The validity of those experiences shouldn’t be recognized at the moment. Some say Dong is at the moment in a police station in Hangzhou, others declare he’s in Yancheng.
Matthew Graham, chief of Sino International Capital, mentioned by means of Twitter that experiences about Zhao’s present state of affairs appear “confirmed.”
RenrenBit allegedly working “as regular”
Graham clarifies that being detained shouldn’t be the identical as being arrested. He notes that the alleged detention might not have something to do with RenrenBit’s operations.
Quoting RenrenBit staff, Chainnews reported on July 2 that “the entire firm’s workers have turned up for work as regular.”
Along with his function at RenrenBit, Zhao is thought for being an investor behind the crypto change, Bitfinex.
Is Zhao concerned in unlawful crypto buying and selling transactions?
Chainnews alleges that the pinnacle of RenrenBit has been cooperating with the Chinese language authorities associated to suspicions of alleged fraud transactions carried out by the corporate.
Zhao said in 2019 that he believed that the crypto spring will solely are available in 2020. When requested about the way forward for Bitcoin (BTC), Zhao Dong recalled the height of the coin’s reputation in December 2017.
Compared to that point, nobody cares about BTC at the moment, he famous, including that the coin will solely draw consideration when it reaches “many tens of hundreds of {dollars}” as soon as once more.