Odaily Planet Daily News Recently, a piece of news that "alumni failed to honor the 11 million yuan donation and was sued by his alma mater (China University of Mining and Technology)" has attracted attention. On the evening of March 14, the person involved, Wu You, responded to the "promise but not donation" incident. Wu You said that he first proposed to donate 11 million yuan worth of Bitcoin to his alma mater, but the school said that it could not accept Bitcoin, and digital currency could not be used as a quantitative standard for donations. So Wu You decided to donate 11 million yuan to the school and signed an agreement at the school on the eve of the school anniversary. As for the reason for not fulfilling the donation later, Wu You said that in mid-April 2019, shortly after signing the donation agreement, his Bitcoin contract exploded, suffered heavy losses, and his digital assets almost returned to zero. At the same time, in the few years after making the donation decision, the equity projects invested by Jinghu Fund under his name had a serious liquidity crisis and could not be withdrawn. Jinghu Capital's business was difficult to maintain, and he personally fell into great difficulties. However, Wu You said that he would implement the 11 million donation. (Beijing News)