China Is Obsessed With Facebook’s Cryptocurrency

Peaked Interest

People in China are obsessed with Facebook’s recently announced cryptocurrency, Libra — which is striking, because both Facebook and cryptocurrency are banned in China.

As Coindesk reports, search trends for “Libra” soared — even a full month after Facebook’s announcement — on China’s biggest web platform Weibo.

It currently ranks as the number one nation in the world for “Facebook Libra” on Google Trends — seemingly outstripping interest in the United States.

Facebook revealed its plans for Libra in June. It’s a huge step for blockchain visibility, because Facebook is by far the biggest online network of people in the world.

Quashing Cryptos

China’s government has tried its best to quash the cryptocurrency market in recent years “to prevent financial risks,” according to the Chinese media. But its attempts have often failed at stopping all cryptocurrency trade.

Facebook and Google are also currently banned in the country — meaning these…