How did Binance's Zhao Changpeng, who left Shanghai, get pardoned by Trump? — A decade of memories and industry puzzles from an old cryptocurrency person.
From the grass-roots era of Beijing's Xierqi in 2014 to Trump's pardon in 2025, Zhao Changpeng's ten-year trajectory is like a mirror, reflecting the barbaric growth of the cryptocurrency world, regulatory storms, and power struggles. Those details scattered throughout time have become the keys to unlocking the 'pardon puzzle.' 1. First Encounter: The Smoke and Fire of Xierqi and the 'Grass-Roots Era' of Cryptocurrency 1. The 'Trio' in the Beijing Yiquanhui Office In 2010, I worked as a senior product operator at the open platform of Shanda Online, owned by Chen Tianqiao. At that time, Shanda Group had invested in hundreds of companies, including Moji Weather co-founded by Zhao Dong (【人物志】Zhao Dong: The Passive Lock-in Under Iron Bars) and Douding Network where Xu Mingxing served as CTO. My job responsibility was to integrate all the products invested by Shanda into our Shanda open platform. It was during that time, when I still didn't know about Bitcoin, that I met Xu Mingxing, who was in charge of connecting their Douding Network to Shanda's open platform. On November 22, 2013, after I bought Bitcoin for the first time, I posted it on WeChat Moments, receiving hundreds of likes and comments.
Color metals rise: The underlying logic revealed㊙️ Color metals are taking off across the board! With over 20 varieties rising one after another, is it still too late to get on board? Price increase overview 🔥 "King Group" annual growth astonishing - Tungsten +184%|Industrial "strong teeth" - Silver +119%|Photovoltaic + risk-averse dual drive - Cobalt +109%|Key material for high-end batteries - Antimony +104%|Photovoltaic glass essential + concentrated supply - Lithium +89% |Electric vehicle cycle turning point expectation 🔥 "Strength Group" trend clear - Copper +33%|AI computing power + power grid construction new growth pole - Titanium +30%|Aerospace upgrade demand - Manganese +26%|New battery star lithium manganese iron phosphate breakthrough - Vanadium +23%|Long-duration energy storage policy support - Aluminum +13%|Energy transition "universal solution" …… Why is industrial non-ferrous the better solution currently? ✅ Great elasticity: Copper, aluminum, cobalt, and antimony supply-demand tight balance + emerging demand double hit ✅ Government support: Breakthroughs in domestic mining + support for recycled metal imports ✅ Green bonus: Recycled aluminum energy consumption is only 5% of primary aluminum, significant low-carbon advantage ✅ Performance support: Nearly 90% of companies in the industry are profitable, leading concentration improves 🔥 Which "Industrial Non-ferrous ETF" is strong? Method 1: On-market Suitable for those who already have a stock account and enjoy real-time trading ➡ Search in the stock market: Industrial🈶Non-ferrous ETF WanJia Trading is flexible, with relatively low rates Method 2: Off-market Suitable for those who are used to operating in banks/financial platforms and want to invest regularly ➡ Search on platforms like China Merchants Bank: WanJia Zhongzheng Industrial🈶Non-ferrous Class A WanJia Zhongzheng Industrial🈶Non-ferrous Class C
1 Minute Understanding: The Sequence of Price Increases in Commodities There is a "fixed roadmap" for the price increases in commodities: first precious metals rise, then industrial metals, followed by energy, and finally agricultural products. Precious metals (like gold) are the "pioneers" and are most sensitive to monetary policy and geopolitical risks. For example, when the US dollar weakens or during geopolitical conflicts, gold will rise first, followed by silver. Industrial metals (like copper and aluminum) follow closely behind; during an economic recovery, demand for manufacturing and infrastructure surges, and copper, as the "industrial barometer," rises first, with aluminum following due to the demand for new energy. Energy (crude oil, natural gas) then rises, as the expansion of industrial production will increase energy demand, and rising energy prices will drive up costs across the entire industry chain, such as chemicals and transportation fees. Finally, it is the turn of agricultural products (soybeans, corn); rising energy prices increase fertilizer and transportation costs, along with economic recovery boosting consumer demand (such as increased meat demand). Extreme weather and export restrictions can also accelerate price increases. This sequence has been repeatedly validated through multiple economic cycles, but special factors like geopolitical conflicts and policy interventions may disrupt the rhythm in the short term.
Don't Rely on AI! Is Clawdbot's Cryptocurrency Trading Ability Still Lacking?
Summary Text / Jay Zhou In the beginning of 2026, Clawdbot (later renamed Moltbot due to trademark infringement) exploded in popularity within the AI and cryptocurrency circles. It garnered over 70,000 stars on GitHub in just a few days, and the Mac Mini compatible with it sold out. Countless people exclaimed, 'The era of AI labor has arrived'—it can help you book restaurants, write code, clean your email, and even form agent teams, becoming the 'Jarvis in your hard drive.' However, when this enthusiasm spread to the cryptocurrency space, the situation took a turn: some hoped it could monitor the market 24/7 and accurately capture trends, laying back to achieve freedom in trading cryptocurrencies; but the reality is that either they fell victim to scams using borrowed names and lost everything, or they were wiped out by its 'mysterious operations,' with even the developers urgently stating, 'Don't use it for trading cryptocurrencies, I never designed this feature.'
I suggest everyone watch the AFC U23 Championship final between China and Japan tonight, or it may be another 20 years before the Chinese team reaches the final again.
Now there are very few places in the country like Vietnam to watch the game on a big screen. In Ho Chi Minh City, Vietnam, they set up a giant screen just to broadcast this match. Before the game, fans danced around the field to celebrate. No one in the whole country thought they would lose to China. They gathered together, waving national flags and beating drums to cheer for the team. Whenever the Vietnam team took a shot, they would stand up in a frenzy! Unexpectedly, Vietnam U23 shrank back on defense right after the kickoff, hoping that their tight defense would wear down the Chinese team. In the second half, they planned to exert themselves, but their strategy was the same as China's. All the attacking players for China were newcomers with good stamina who weren’t afraid of being pushed around, and in the end, Vietnam lost 0 to 3 to China. After the match, the celebrations that the Vietnamese fans had prepared were gone. The fire trucks that were supposed to spray water on the streets returned to their stations, and everyone rode home in an orderly fashion! The streets were littered with discarded drink bottles, and they probably couldn’t understand why they lost to China. Meanwhile, many Vietnamese fans left comments online saying they lost the game and lost face! Looking at their current state, it reminds me of the nights during the World Cup qualifiers a few years ago. Now, it’s hard to find such big screens in the country, and there isn't that much passion to go out and watch the game!
【Trading Rules】Have you learned them? This trade might be wrong. Consider risk first. 1. Money management: divide funds into 10 parts, never risk more than 10% per trade. 2. Set stop-loss immediately after opening a position. Create a table and record it. 3. Avoid overtrading. Be patient and wait for the best opportunity. 4. Don't let floating profit turn into floating loss. After entering a long position and price rises, set a breakeven stop-loss. 5. Don't go against the trend. Don't trade if the trend is uncertain. 6. If in doubt, step back and observe. 7. Don't trade low-liquidity instruments. 8. Diversify risk. Never go all-in. 9. Don't always use limit orders. Sometimes, market entry is necessary. 10. Don't open or close trades without solid reasons. 11. Partially take profit and move profits to a backup account. 12. Never average down. Don't keep adding to losing positions. 13. Don't rush. Don't exit due to impatience. 14. Avoid small gains and large losses. Once a stop-loss is set, don't cancel it. 15. Avoid frequent entries and exits. 16. If strongly bullish, go long—trade in line with the trend. 17. Don't buy just because the price is low. Don't sell just because the price is high. 18. Use pyramid scaling carefully: only add to positions after breaking through resistance levels. 19. For long positions, choose small-cap; for short positions, choose large-cap. 20. If position size is wrong, don't hedge—exit with a stop-loss and wait for the next opportunity.
Did former Xunlei CEO Chen Lei use part of the embezzled funds to speculate in cryptocurrencies?
Summary In 2026, a corruption case involving a major internet company that spans five years has once again attracted attention. A relevant court in Shenzhen has officially accepted the civil lawsuit filed by Xunlei against former CEO Chen Lei. This case, which involves more than 200 million yuan in damages to the company, not only exposes the chaotic phenomenon of 'soft power rent-seeking' in the traditional internet industry due to complex asset transfer paths and a long-standing deadlock in cross-border pursuit, but also reflects the new risks of corrupt individuals evading regulation under the guise of emerging technologies in the wave of Web3, pushing the deeper challenges of anti-corruption in the industry into the public eye.
【Chen Lei, former CEO of Xunlei, allegedly misappropriated tens of millions of yuan from the company for illegal cryptocurrency trading】 According to a report by The Paper, Xunlei has filed a lawsuit against its former CEO Chen Lei and his core team, accusing them of infringing on the company's interests and seeking compensation of up to 200 million yuan. The case has been accepted and registered by relevant courts in Shenzhen. Chen Lei recruited his relatives and close friends through Dong Xue, a former senior vice president of Xunlei, placing them in key positions within the company. He then used illegal means such as fabricating transaction procedures and falsifying contracts to siphon off company funds, involving a massive amount of money. The new management team has since carried out cleanup and reorganization of Xunlei's business operations and personnel. Additionally, Chen Lei is suspected of misappropriating tens of millions of yuan from the company for illegal cryptocurrency trading, which is strictly prohibited by the state. Chen Lei joined Xunlei in 2014 as Chief Technology Officer and was promoted to CEO in 2017. In 2020, Xunlei dismissed him on suspicion of embezzlement. Subsequently, the Shenzhen Public Security Bureau initiated an investigation into Chen Lei and others suspected of embezzlement. To avoid investigation, Chen Lei and Dong Xue, former senior vice president of Xunlei, have fled overseas.