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Alipay Torches Binance CEO as False Bitcoin Rumors Fester

Alipay Torches Binance CEO as False Bitcoin Rumors Fester

In what can only be described as a virtual slap in the face, the Chinese mobile payment platform, Alipay, strongly rebuked bitcoin exchange giant Binance for attempting to implement Alipay as a fiat on-ramp. New payment options for peer-to-peer (P2P) crypto trading on Binance’s mobile app came to fruition yesterday, as exchange boss Changpeng “CZ” Zhao emphatically unveiled the news on Twitter.

The new function allows for mobile users to engage in P2P trading of cryptocurrencies such as bitcoin, ethereum, and tether, against the Chinese yuan. Much to the elation of investors, it was reported that major Chinese payment processors Alipay and WeChat Pay would be used as fiat on-ramps. However, this seemingly got lost in translation, with some believing there to be a partnership with the major firms.

“There’re several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations.”  “There’re several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations.” The company said that any and all crypto transactions would be stopped.

It wasn’t too long until WeChat caught wind of the uproar, reaffirming their own stubborn stance on cryptocurrencies. Crypto venture capitalist Dovey Wan took a snapshot of the WeChat announcement, translating it to reveal its seemingly tyrannical nature: However, none of this should come as a shock.

Alipay Torches Binance CEO as False Bitcoin Rumors Fester, CCN, Oct 10
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