The release of Zhao Dong, founder of RenrenBit, is drawing attention but is not leading to significant market changes.
Zhao Dong's Release: Symbolism and Community Reactions
Zhao Dong, known as the 'OTC King', has been freed after serving seven years in prison for charges related to illegal crypto activities. His release was reported by investor Guo Hongcai in a Twitter post on September 10, 2025. However, there has been no official comment from Zhao or RenrenBit. The market impact remains largely symbolic, with no notable shifts in liquidity or reactions from institutional players.
Current Performance of Bitcoin
Currently, Bitcoin (BTC) is trading at $113,754.07, with a market cap of $2.27 trillion, accounting for 57.46% of the market. Over the last 24 hours, trading volume reached $53.46 billion, marking a 15.35% change. Notably, BTC's price has decreased by 5.76% over 30 days and increased by 5.95% over 90 days. The circulating supply is approaching the maximum limit of 21 million.
Future of the Crypto Market After Release
According to the Coincu research team, Zhao's release may bring little immediate financial or regulatory shifts, but caution is advised. Historical patterns indicate that similar cases often lead to temporary market disruptions rather than systemic failures.
Zhao Dong's release has attracted attention to the crypto market, but its influence on financial and regulatory aspects remains unclear.
