POPA ReconWhether it's BitMEX or Bitmart, neither is a case of sudden collapse; it's just that these non-tier-one offshore exchanges can't make money…
Whether it's BitMEX or Bitmart, neither is a case of sudden collapse; it's just that these non-tier-one offshore exchanges can't make money and see no hope, so they're proactively shutting down. From the broader environment: No one's trading coins, so the total market size is contracting sharply. From a regional perspective: The three major markets—US, Korea, Europe—have all gone compliant, leaving less and less room for offshore operations; Russia and Iran, continuing would risk people's lives; Chinese-speaking regions are extremely crowded, dominated by tier-one exchanges; other small mark…
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