China’s Crypto Market Didn’t Disappear
China banned crypto exchanges, but users shifted to P2P and self-custody wallets.
• $104.1B in stablecoin transfers
• 18.1M transactions
• 33.2x annual stablecoin turnover vs 9.3x globally
The ban changed the infrastructure — it didn’t stop the activity.
#DriftHackVictimsBeginClaims
$NIGHT
China banned crypto exchanges, but users shifted to P2P and self-custody wallets.
• $104.1B in stablecoin transfers
• 18.1M transactions
• 33.2x annual stablecoin turnover vs 9.3x globally
The ban changed the infrastructure — it didn’t stop the activity.
#DriftHackVictimsBeginClaims
$NIGHT