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Shenzhen's crypto enthusiasts have all switched to Hong Kong stocks for IPOs.
Title: Shenzhen’s Crypto Enthusiasts Are Now Focusing on Hong Kong Stocks for IPOs
Author: Jaleel Plus Six
Source:
Repost: Mars Finance
A vibrant city always attracts ambitious people, and Shenzhen is just such a city.
More than forty years ago, Shenzhen was just a patch of rice fields and a few fishing villages on the east bank of the Pearl River Delta. But over the next forty years, it transformed Huaqiangbei into the world’s largest electronics component distribution hub, Dafen Village into a global oil painting factory, and became the birthplace of Huawei, Tencent, DJI, and BYD. In this city, there are too many people who leverage information, liquidity, and regulatory asymmetries to profit from price differences.
Arez is a typical Shenzhen native like that.
He is in his early thirties, and with friends, he opened a crypto “grinding” studio in an office building in Nanshan. He once made a lot of money for his team from the Arbitrum, Starknet, and LayerZero airdrops in 2023. At the peak, he managed over a thousand on-chain addresses, running scripts, IP proxies, KYC resources, and capital rotations.