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Shanghai Man: RMB stablecoin in Shanghai, Evergrande FUD, and FTX gains ground

This week, the word “Evergrande” found its way into the vocabulary of every western investor. After years of watching the corporations football team on TV and drinking its bottled water, Crypto Twitter (NYSE:TWTR) was the last place the Man in Shanghai expected to find it. After facing debts of over $300 billion, all types of rumors swirled, leading its Hong Kong-listed shares to drop 80% and a massive crypto sell-off early in the week.

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Source: Cryptocurrency - investing.com

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