Binance Launchpad banned in China
Reports are coming in that Binance Launchpad has been banned to all users in China. Binance exchange other features are working normally. It shall be noted that Binance Launchpad is accessible to rest of world just fine.
Interestingly, someone shorted more than $1 million dollars worth of BNB on BNB-USDT pair on Binance few minutes before we posted this. Is it yet another example of insider trading? You decide.
So if you want to participate on Binance Launchpad, the only way to do is by using an IP address of country that supports it and you can do it by using a VPN.
Binance has been a lot in news lately, unfortunately for all the bad reasons. A lot of regulatory actions are being taken against Binance and many countries are on verge of banning it. UK, for instance, has already asked its banks to stop processing deposits to Binance.
📉💳$1,037,580 $BNB SHORTED @$314.5 [13/07/21 04:24:38]
🏣Binance | $BNBUSDT🗣️Give a very warm applause for the new generation of involuntary community members – cryptodepp
— WhaleTrades 🐳 (@WhaleTrades) July 13, 2021
This has stopped UK’s Binance users to from sending funds to the exchange, creating a liquidity problem and drop in Bitcoin’s and cryptocurrencies price.