These aren’t limited to China:

- fewer people can afford a home, let alone multiple = less wall space for premium art

- it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

I'm not convinced that the first point has necessarily affected the premium art space unless you're referring to the spill in effects. TFA talks about a space in Art Basel costing 100k - the target clientele for all intents and purposes are completely unaffected by the recent economic problems. Some have gotten even richer if anything

> - it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

Sure art sales can be used to launder money, but that can't be the majority of sales. Doesn't laundering rely on being masked by a larger legitimate cash flow?

I think a much more significant portion of the art market is people speculating on prices and people collecting to look cool. Both of which are highly sensitive to changes in mood and sentiment as described in the section of the article talking about Beth Rudin DeWoody .

> it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

Art was always a favorite way to launder money. This is a good point.