Despite crypto ban, China’s tech talent rides the global web3 wave

Over the past few years, scores of Chinese web3 startups have moved their entities overseas in the wake of the country’s crypto crackdown, but they are not outright giving China up. They follow a playbook proven by previous generations of tech firms: domicile offshore, keep some operations in China, and go after foreign markets. “Where else are you gonna find thousands of capable engineers?” says one China-based employee of a crypto exchange, asking not to be named.