CCTV reports Hong Kong regulation has been deleted, Zhao Changpeng optimistic about the bull market, Bitcoin briefly drops below 26K

The founder of Binance, Zhao Changpeng, also known as CZ, tweeted last night that China's state broadcaster, CCTV, aired news related to cryptocurrency, sparking excitement in the Chinese community as similar reports in the past have led to bull markets. However, Zhao Changpeng also emphasized that the past does not necessarily predict the future, and this is not investment advice.

CCTV Reports Hong Kong Regulators Have Deleted

When the news was reported on the evening of May 24, the link provided by Zhao Changpeng was still valid. The content is about CCTV's report on the recent finalized regulatory framework titled "Hong Kong Securities and Futures Commission: Mandatory Licensing for Virtual Asset Trading Platforms to Be Implemented from June 1st."

However, on May 25, the link was no longer accessible and was replaced by another new video link.

To understand the key points of the Hong Kong regulations, please refer to: Exchanges are responsible for protecting retail investors and are temporarily not allowed to buy or sell stablecoins.

Bitcoin Dips Below 26K at One Point

Zhao Changpeng posted at 23:19 on May 24 that the price of Bitcoin had dropped from the 27K level in the morning to 26K, but the price continued to decline further below 26K in the early hours. The lowest point reached by Binance was 25,871, and by the time of writing, it had recovered to 26K. It seems that CCTV not only deleted the report but also did not bring any relief to the coin price.