Dourgun proved that a remarried woman cannot be used as a “replacement” who can be taken on;

Sun Yuchen proved that a secondhand exchange absolutely cannot be used as a “replacement” either.

When it was late at night and everything was quiet, Brother Sun asked himself: why did I spend so much money on Huobi, but still didn’t manage to make it?

Because Huobi’s UI lags like a tractor, and the trading depth is as bad as PDD cutting a steak. For small coins, there are only buy orders of a few hundredths. If you want to sell, it’s like Soviet people lining up to buy a big loaf of bread.

Marketing and running an exchange are two different things. When V God’s socks have a hole, Xu Mingxing wears a watch worth tens of thousands of yuan, and CZ wears old canvas shoes—people just bury themselves in doing the work.

While other exchanges were developing major clients at TOKEN2049, Brother Sun, however, chose “Huobi’s number one lady” in Singapore. So Brother Sun’s marketing is like a boomerang.

After spending $6.24 million to buy a banana, he used about $21.9 million worth of TRUMP to get to the top spot on the Trump dinner rankings, and then spent another $28 million to go to space. If he wants to climb socially upward, it turns out he ends up getting dealt with by Americans instead.

The money on marketing wasn’t less, and the topics weren’t fewer—but what does that do for Huobi? The page still lags; the small coins still can’t be sold.

Crypto is the most damn realistic—here, we don’t box. If you tell them to respect women, they’ll dare to say “fuck your mom”; but if you give them U.S. dollars, they’ll call you “dad.”

And Brother Sun’s playing is too mixed—whatever the market is hot about, he wants a piece of it. Huobi’s own pages and trading depth aren’t done well, and its market share keeps getting squeezed, yet it still expands blindly, and in the end it can only manage to do nothing well.

It’s like Xu Jiayin putting 600 billion to build cars: the money was spent, but in the end it didn’t produce a good car.

My impression of Brother Sun is that he’s been acting like an absentee landlord all along. When there’s nothing to do, he checks KPIs; then his subordinates use a few “good news” crumbs to get by. He casually forwards it: not bad—Huobi is back in the top ten again today.

“Top ten,” really—that’s just the bottom of the mainstream exchanges.

Brother Sun still never figured out that marketing and running an exchange are two different things. Marketing is short-lived; an exchange lasts a lifetime. Do it personally—learn from Binance Yi!