2026-01-13 21:20:25

The crackdown on illicit activities is accelerating. From the rapid freezing of Chen Zhi's assets in multiple countries, it is clear that Cambodia's de-ill-gotten gains efforts have moved from paper to reality.

Think about it over the years—how many project teams, market-making teams, and fund schemes have set up their operational headquarters in Cambodia or Dubai? These places have a high tolerance for gray-area businesses, making them safe havens for crypto enterprises. But once regulations tighten, these groups will have to make a choice—either completely disappear or go deeper underground.

What is the most immediate consequence? Market liquidity is already tight. When the forces responsible for market-making, wash trading, and price stabilization shrink, trading depth will inevitably decline. You will notice that projects previously artificially inflated start to bleed out, and counterparties become scarce. This is not a minor issue; it will reshape the microstructure of the entire market.

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BankruptcyArtist

· 21h ago

This wave of regulation in Cambodia has truly arrived. The former safe havens have now become leaky ones. The project teams and whales hiding overseas are getting anxious. Once liquidity dries up, how will those junk coins supported by wash trading survive? Their true nature will be exposed directly.

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AirdropFatigue

· 21h ago

Chen Zhi's wave of frozen assets really exposed the entire gray industry chain. Cambodia's operations should have been dealt with long ago. Market-making teams are fleeing underground, liquidity shrinks, and the crypto circle's depth was already fragile. Let's see who can still hold on. Now thinking back to those projects that were hyped up, behind them are all these people colluding. It's really out of line. With counterparties being scarce, how can we continue to play? It feels like the market needs a thorough cleanse.

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WalletDoomsDay

· 21h ago

Cambodia, this round is really unplayable anymore. How did those projects hiding there run away? Now no one is providing market making for you, and the coin price will probably plummet straight down… A crackdown on illicit activities, retail investors' blood flows like a river Oh my goodness, how much capital is still hidden over there? Once liquidity dries up, there's really no hope. This time, regulation is not just a crackdown but a reshuffle Cambodia's safe haven has completely fallen, where can the people escape to next? This is the true underlying震动, the trading depth that seems invisible on the surface is evaporating

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ChainWatcher

· 21h ago

This wave in Cambodia really can't be stopped anymore. I used to think it was just loud thunder with little rain... Now I understand what a liquidity crisis is. The market makers who were just making a living have fled. Can the project still rise? Dream on.

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WhaleWatcher

· 21h ago

Cambodia's crackdown has truly arrived, and market-making teams are finding it increasingly difficult to operate. The incident with Chen Zhi is probably just the beginning; there's more to come. Speaking of which, this will definitely cause trading depth to collapse, and no one will want to buy the trash coins anymore.

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