Overnight last night, the Twitter accounts of many crypto influencers and top Bitcoin supporters were mysteriously banned without warning.
Speculation suggested that accounts that had previously tweeted about the popularity of NFTs were targeted, causing conspiracy theories to circulate and other key accounts to go private. Here’s what’s really going on behind the strange incident.
The Mysterious Crypto Twitter Suspension Saga
Cryptocurrencies like Bitcoin have shown over the past year how strong their fundamentals are and how far they have come in ten years. And the technology’s disruptive potential has never been denied.
However, the asset class remains more speculative than currently applicable to the company. As with the internet before, this will eventually change and a real benefit will be created. Part of the fascination with crypto for now is speculation itself.
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It attracts angel investors, entrepreneurs, evangelists, anarchists, researchers, economists, and pseudonymous personalities, all of whom participate in predicting future price promotions and industry outcomes.
This speculation takes place on Reddit, internet forums, and social media platforms like Twitter. However, last night some key crypto industry figures and influencers suddenly banned their accounts without warning.
Among the numbers whose accounts were unexpectedly suspended included Bitcoin expert Willy Woo, stock-to-flow model developer Plan B, and the popular Crypto Dog account.
Total market capitalization for cryptocurrencies is approaching $ 2 trillion Source: CRYPTOCAP-TOTAL on TradingView.com
It became known that the suspensions were related to the NFT discussion, although there is no evidence to support the theory of the spread of the conspiracy. In response to this, several other influencer accounts were privatized by “Crypto Twitter” in order to avoid being blocked. However, when the accounts were restored, those accounts have since been unlocked.
Under Plan B, affected users received letters of apology from Twitter explaining the situation as a comprehensive spam removal measure that incorrectly affected some innocent users.
Plan B’s account and all of its followers were restored after tweeting directly on Jack Dorsey – the CEO of Twitter and well-known bitcoin bulls.
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Suspensions related to NFTs are unlikely as Dorsey himself recently auctioned his first tweet as an NFT. Dorsey is also the CEO of payment company Square Inc., which is on the growing list of companies buying BTC as part of their corporate treasury strategy.
Twitter and Dorsey himself were recently scrutinized for censorship, which likely resulted in the community’s jerky reactions to banning accounts, fearing the worst. But Dorsey is a crypto supporter and supporter of innovation, and given his previous involvement with Bitcoin, the last thing his company would do is quell the chatter about innovation in the industry.
Featured image from deposit photos, charts from TradingView.com
