Despite having a blanket ban on cryptocurrencies, many investors in mainland China were able to earn significant profits, making them achieve some of the biggest gains in the global cryptocurrency market. The analysis was done by a New York-based blockchain research firm called Chainalysis and reported by SCMP.
A new survey indicates that Chinese cryptocurrency investors earned US$ 1.15 billion in profits during 2023, making themselves the fourth biggest cryptocurrency earners, behind those in the USA, UK, and Vietnam. One of the exchanges that allowed trading in China was Binance, though users were warned for such activity as China banned cryptocurrency trading.
