Crypto Leverage: a Controversial Chinese Export

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In the high-stakes world of cryptocurrency, traders are writing big checks with borrowed funds — a risky investment trend known as leveraging. To understand whether this will help or hurt the industry, The Wire looks back at the trend’s emergence in China.Subscribe nowIn this episode, we are joined by a new guest: journalist Grady McGregor, who discusses his upcoming piece on crypto leverage and its Chinese origins with features editor Tom Mitchell. His cover article will be published this weekend on our website, thewirechina.com.ShareInterested in full access to The Wire China content? Learn more about subscribing: https://www.thewirechina.com/subscriptions/TranscriptTom: Hi, and welcome to The Wire China podcast. I’m Tom Mitchell, The Wire’s feature editor, speaking to you from Singapore.In the podcast, we aim to take you behind the scenes of the stories we cover in our online magazine. This week, I’m joined by Grady McGregor, also in Singapore. He writes about the rise and rise of leverage-fueled investment in the global cryptocurrency industry.It is a phenomenon that has its origins in China, and also a phenomenon that the Chinese government was very wary of. It was a factor leading to Beijing’s decision to ban the industry, after which the country’s most successful crypto entrepreneurs, many of them self-made billionaires, to camp for Hong Kong, Singapore, or other more friendly jurisdictions. As ever, you can read these stories and much more on our website, thewirechina.com. But first, Grady, welcome to your first of many Wire China podcasts.Grady: Thank you so much, …