Crypto in China is in a weird state of affairs where there are short boosts such as the recent Bitcoin rush after the Chinese President Xi’s statement. The misunderstanding soon turned into a bubble when the clarification came following shortly. Within the last week, multiple events in China’s crypto-world took place which includes Weibo, a Chinese website similar to twitter, suspending official accounts of Tron and Binance; an issuance of a statement in Shanghai related to the cleanup of people and companies involved in Initial Coin Offerings (ICOs); and the raiding Binance’s Shanghai office which was supposed to have been
