🇨🇳 [Analysis] Is China making a crypto comeback?

Chinese buyers may be making their way back into the crypto market via FatBTC, a Chinese exchange based out of Belize with a Chinese bank account, according to research from Trust Nodes. FatBTC posted trade volumes of $140 million $BTC/CNY and $60 million $ETH/CNY in the 24 hours analyzed by the site. According to the research, the exchange uses FCNY, a conversion stablecoin similar to stablecoin Tether ($USDT) to get around Chinese central bank controls, though the researchers admit that details on the exchange remain unclear.