Liquid Capital founder Yi Lihua said on X that many projects lack contractual integrity, citing cases where users are unable to withdraw BTC, investor tokens are deducted at will, and terms are changed under pressure. According to Odaily, he said this creates reputational risk for VCs, KOLs, and secondary investors, and urged exchanges to make project credibility a key review criterion. He added that companies involved in fraud in the traditional stock market face penalties or delisting rules.