Binance CEO Changpeng Zhao (CZ) tweeted on Wednesday about China Central Television (CCTV) broadcasting news related to digital assets, which has historically led to crypto bull runs.
- CZ provided a link to the broadcast, which discussed Hong Kong’s mandatory licensing system for virtual asset trading platforms starting from June 1.
- Although the news included some negative regulations, CZ still believed the coverage alone was a bullish development for the crypto industry.
- CZ emphasized that his tweet was not financial advice and that the past does not predict the future.
- Despite China’s ban on crypto, Hong Kong continues to pursue its ambitions to become a regional crypto hub.
- In his replies, CZ agreed that Chinese involvement is essential for a bull market to occur.
- CZ, who was born in China but is a Canadian citizen, has stated multiple times that Binance is not a Chinese company.
