China has been working on hacking crypto. Since the block chain is obviously the most secure part, they've been working on decoding the public key to extrapolate the private key for each transaction. At this time, a crypto transaction takes between 8 and 15 minutes. Using their quantum computer systems, the Chinese government has been able to decrypt the private key in just under 8hrs. That seems like a ways off. However, just 3 months ago, that same computation was taking 36 hours or more. This being said, those working on the project expect to drop the decryption time to 5 minutes by the end of 2025. If, and when, this occurs, all crypto will be basically worthless. No transaction of any significant value will be able to be done without it possibly being intercepted by the Chinese government controlled data centers. Large holders of crypto are well aware of this eventual devaluation and are slowly dumping their holdings. They can't do it quickly without dropping the price. So they're doing multiple transactions through multiple wallets to slowly cash out.