China Holds $6 Billion Worth Of Crypto, Could ‘Kill’ Crypto Markets If It Wishes: Analyst

The Chinese government is a “crypto whale” having forfeited digital currencies to the tune of $6 billion to the national treasury in 2019, according to the founder and chief executive officer of blockchain data analytics firm Cyptoquant, Ki Young Ju. Young Ju stated that Chinese authorities seized 194,000 Bitcoin (CRYPTO: BTC), 833,000 Ethereum (CRYPTO: ETH), and other cryptocurrencies from the PlusToken scam in 2019.