RenrenBit founder, Zhao Dong, who is famously known as the “OTC King,” has been sentenced to seven years in prison by the Chinese authorities following a thorough investigation. This decision comes as a significant blow to the cryptocurrency industry, as Zhao Dong has played a prominent role in the sector. RenrenBit, a popular cryptocurrency lending platform, has garnered a significant user base under his leadership. The reasons behind Zhao Dong’s sentencing and the details of the investigation remain undisclosed. This development underscores the increasing regulatory scrutiny faced by the cryptocurrency market in China.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinChina Reveals Information on Zhao Dong's 7-Year Prison Term as 'OTC King'