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Justin Sun Denies Arrest Rumors in Hong Kong; Crypto Community Reacts

• Justin Sun, the founder of TRON and former diplomatic representative for Grenada to the World Trade Organization, denied rumors of his arrest.
• Crypto_Bitlord triggered a reaction from the crypto community after sharing a tweet claiming Sun’s arrest in Hong Kong.
• Binance CEO Chanpeng “CZ” Zhao urged people to focus on education, compliance, product, and service instead of responding to FUD.

Justin Sun Denies Arrest Rumors

Former diplomatic representative for Grenada to the World Trade Organization and TRON Founder Justin Sun replied to the rumors about his alleged arrest. The crypto entrepreneur arrived in Hong Kong in the past 24 hours to participate in one of his company’s event, the crypto exchange Huobi. Related Reading: Most People Purchase NFTs For Utility And Profits, Coingecko Study Crypto Community Reacts To Justin Sun’s Arrest Rumors Following Sun’s arrival, influencer Crypto_Bitlord shared a tweet claiming that he had been arrested by authorities at Michinawanamun Station. This caused much speculation among members of the crypto industry who have become increasingly subject to regulatory scrutiny over alleged violations of U.S. securities laws.

Crypto Community Reacts

Binance CEO Chanpeng “CZ” Zhao responded with a tweet popularizing using “4” as an answer to news surrounding the crypto industry in 2023; calling for people to ignore FUD (Fear, Uncertainty, Doubt) and fake news and instead focus on education, compliance product and service. CZ also expressed sadness at seeing people spreading FUD in this space and confirmed that he unfollowed or blocked them accordingly.

Regulators Take Action

The Securities and Exchange Commission (SEC) has been investigating both CZ and Sun as well as other companies friendly towards cryptocurrencies – leading regulators worldwide launching actions against them all.

“Four” Response Trend Grows

The trend of using “four” as a response has grown amongst cryptocurrency users who are looking for ways to respond without getting into too much detail regarding what is being said or done by those being investigated or accused of wrongdoing by regulatory bodies like the SEC. This is seen as a way for people within this space to ignore FUD (Fear Uncertainty Doubt) stories circulating online while still expressing solidarity with those being targeted by regulators around the world without actually taking sides on any particular issue or conflict between these parties.

Conclusion

Despite rumors about him being arrested circulating following his visit to Hong Kong for a company event hosted by Huobi , Justin Sun denied these allegations via Twitter . Regulatory bodies have been increasing their scrutiny over cryptocurrencies but many within this space have found solace through responding with “four”, signifying that they will ignore FUD ( Fear Uncertainty Doubt ) stories while focusing more on education , compliance , products & services .