Cryptocurrencies
China’s Shadowy Crypto Brokers Lure $75 Billion as Economy Toils
- Study signals a record streak of demand for China OTC traders
- Figures add to evidence of Beijing’s crypto ban being flouted
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China’s over-the-counter cryptocurrency brokers are attracting unprecedented inflows, a study shows, reflecting a hunger for alternative investments amid weak equity and property markets in a struggling economy.
The inflows topped $20 billion in each of the three quarters through June — a record streak in data going back to 2021 — for a cumulative total of $75.4 billion over the nine-month span, according to estimates from Chainalysis Inc.