Beijing, China – Na wah o! For 2017, China colled their eyes for cryptocurrency matter as dem ban ICOs, and since then na so e dey go. Trading platforms? Off the table! Plus, dem even put a nationwide crackdown on crypto mining for 2021.
But you know say wahala no dey finish for Naija! Despite this strict control, plenty powerful crypto ventures jinx up by Chinese entrepreneurs dey make waves around the world. Talk about a paradox! How China go ban crypto, yet their people dey take control of global crypto landscape?
You see, while China dey push crypto businesses outside their border, dem entrepreneurs and their state-linked investors don find way to channel their money offshore, managing to still solidify their presence in places like Singapore, Dubai, and even the British Virgin Islands. Who go believe say the country wey ban crypto fit be the same one wey dey control everything inside e?
Let’s take Binance for example. Founded by Changpeng Zhao, a Chinese-Canadian guru born in Jiangsu, this crypto exchange juggle over $2.2 trillion for spot trading volume (imagine the kind money wey dey pass under ground!). Despite moving from country to country based on pressure, dem still show strong resilience with 270 million users worldwide as of 2025. Na serious matter!
And no forget TRON, wey Justin Sun carry come from Alibaba’s background. Although na Singapore be home to TRON now, no be small matter say Sun still dey do strong business connection back for China, proving said the influence no go just fade away.
Another big player na Bitmain, wey na the king for Bitcoin mining hardware. These guys don relocate from Beijing to Kazakhstan and the U.S., but even as dem scatter, their influence still dey reign supreme globally. If you doubt am, just check the stats for their mining pools!
Cobo, Matrixport, Huobi, and plenty other crypto platforms wey Chinese entrepreneurs start don also find foreign grounds to operate without the choking bans. Cobo dey provide high-security solutions for digital wallet clients while Matrixport dey do crypto banking work, lending and trading through Chinese connections anywhere but at home.
As we dey watch am, e clear say while China may lock down on crypto trading and mining, them don set their people up for global success. These entrepreneurs dey sit down for the top table to dictate terms, play big roles in decentralized finance, and even control liquidity flows! Shocking right?
The real question wey dey ground now be: if cryptocurrency na the future of money and finance, who get the upper hand? As e be, e be like say the future dey run for Chinese hand, and di paradox don turn ordinary eyes wide!
