‘Panic buying’ of Chinese stocks weighs on Crypto’s most-traded token
One of the best measures for gauging demand for cryptocurrencies suggests that some Chinese investors are shifting away from digital assets and back to the nation’s surging stock market.
While China banned crypto trading in 2021, many mainland residents have continued to use overseas accounts and exchanges to buy and sell digital currencies, in part to avoid capital controls and move assets offshore.
Tether’s USDT stablecoin, the world’s most used cryptocurrency, has…
