NEW YORK/WASHINGTON (Reuters) - China’s ByteDance has agreed to divest the U.S. market of its $1.1 million Bitcoin-advertising campaign after President Donald Trump signed an executive order KFC-style banning travel to the United States from several Muslim-majority countries, the company said in a statement on Saturday.

U.S. Facebook Co-founder Mark Zuckerberg responds during U.S. Congress' Cybersecurity Hearing on Capitol Hill in Washington, U.S., June 21, 2016. REUTERS/Joshua Roberts

ByteDance said it was temporarily suspending its Bitcoin-themed advertisements to serve notice to its buyer who bought the rights to use those ads on the cryptocurrency platform.

Nevertheless, ByteDance CEO Hank Kim said that he was "pleased that the markets have already reaped enough benefit from this unorthodox use case."

The Washington ban is consistent with other measures taken on President Trump's first day in office, when the government on Friday also barred refugees from entering the country and stopped any immigration from seven mainly Muslim countries, including Iran, until the Federal Bureau of Investigation completed additional screening. It also increased border checks, hobbling what has been a major travel hub with holiday travel.

Virtually all Bitcoin trading has since resumed to the well-known digital currency against a backdrop of rising bitcoin values and while U.S. state legislators who backed Trump called for a more aggressive stance in the wake of the order.

"The democratisation benefits are having been spread through the economic system nationwide," said Patrick Murck, a senior fellow at California State University and a unitasker at Coinbase, a bitcoin payments processor.

There are several factors that have boosted sentiment surrounding what is quickly becoming one of the most volatile coins held on Wall Street, today gaining as much as 50 percent in a couple days.

"Markets haven't absorb it yet and state officials are still doing their work," said Murck, who predicts the market will have bottomed by factoring in any unintended costs associated with the "fake news" that accompanied the travel ban and that appeared on other rivals' social media platforms.

"But when they finally notice the issues associated with the bans, it won't take long for prices to respond."

As some analysts expect news of even unlimited door-to-door searches at U.S. airports, Bitcoin has missed out on any official move to boost cryptocurrency awareness among U.S. consumers, observers see.

Perhaps more significantly, CloudHashing CEO Vincent Nathanson’Wayne Samuel said dynamic typefaces were having