Chinese Internet Firms Allegedly Exit Cryptocurrency Ventures

According to ChainCatcher via Caixin, major Chinese internet firms like Alibaba and Tencent may exit cryptocurrency sectors, with Chinese banks in Hong Kong absent from stablecoin license applications.

This potential withdrawal could impact cryptocurrency investment strategies and market dynamics, highlighting a shift towards a focus on developing the real economy in China.

Unconfirmed Reports of Major Chinese Firms Exiting Crypto

Reports allege that major domestic internet companies in China might gradually exit cryptocurrency-related activities. This includes absences from stablecoin licensing activities in Hong Kong. Key players like Ant Group and Baidu have not issued statements. The reports feature claims without direct evidence.

No direct policy changes have been publicly announced. The alleged actions may prioritize real economy developments over cryptocurrency engagements. Market speculation continues due to these unverified claims, but effects remain unseen.

The market has not observed abnormal capital outflows or on-chain shifts linked to these allegations. No reactions or statements from key figures like executives at major exchanges have been publicly recorded. The situation remains fluid with cryptocurrency stakeholders watching closely.

“Both parties will leverage artificial intelligence, Internet of Things technology, and blockchain technology to provide digital services for new energy assets.” – Xu Changjun, Chairman, Longxin Technology Group

Market Reaction and Historical Context of Chinese Crypto Involvement

Did you know? In past regulatory actions, Chinese firms had reduced crypto exposure, but not without notable market ripples indicating regional policy influence.

Based on CoinMarketCap data, Ethereum’s price stands at $4,476.26 with a market cap of $540.31 billion. Its recent 24-hour trading volume is reported as $36.36 billion, reflecting a minor decrease. Ethereum has experienced a 3.02% increase over the last 24 hours and a 3.86% rise over the past week, as of September 12, 2025.

The Coincu research team cautions that while these reports remain unverified, they could signify a shift away from crypto in favor of boosting real-world economic activities. Market opinions are varied, with a wait-and-see approach prevailing in the absence of concrete data.