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Tongtong Bee 🐝
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Cofounder & Editor-in-Chief @PANONYgroup @panewsCN，PANews招聘记者/运营/商务，私信简历。
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Tongtong Bee 🐝
Bithumb accepted the loss, acknowledging it was unrecoverable, with actual losses around $10 million USD. However, a user of another exchange wasn't so lucky. In May 2021, an Australian woman only wanted a refund of 100 AUD, but an employee accidentally entered her bank account number into the "amount" field, directly transferring 10.5 million AUD to her. She and her partner thought they had won the lottery and went on a buying spree, purchasing luxury homes, cars, and artwork, and even transferring the money to relatives and friends. The platform only discovered the fraud during an audit seven months later and quickly filed a lawsuit to recover the funds. The court froze assets, forced the sale of the property, and recovered most of the money. Ultimately, the man was convicted of theft and sentenced to three years in prison, while the woman was placed under community corrections. A classic example of a "windfall" scheme backfiring: money in hand isn't necessarily yours. But slow risk control is even more fatal 😂 These two exchanges are also showing signs of collapse. Their distribution systems should set limits for different cryptocurrencies and add more automatic verification and alarm mechanisms. Hopefully, all platforms can learn from this experience. twitter.com/tongtongbee/status...
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Tongtong Bee 🐝
Another piece of domestic regulation on virtual currencies has been finalized. Tonight, multiple ministries issued a notice to further prevent the spread of virtual currencies, officially transforming the coordination meeting of November 28th last year into departmental regulations. The notice issued by multiple ministries in 2021 was also repealed. Comparing the two notices, the new regulations mainly increase requirements related to RWA (Real Money Market Funds), strictly prohibiting the provision of any services for unapproved RWA businesses. However, it also leaves room for domestic entities to issue RWA assets overseas, adding approval and regulatory requirements for domestic entities issuing virtual currencies and conducting RWA business overseas, filling a regulatory gap. The industry had anticipated the formal implementation of this notice, previously expecting it to include regulations on OTC (Over-the-Counter) trading, but this has not materialized. Furthermore, there has been no impact on market prices.
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Tongtong Bee 🐝
02-03
Cedric's article went viral, successfully garnering widespread appreciation and recognition. Although we've never met, he sent me information about Flap in May 2024. At that time, it was still in its early stages, and I didn't notice anything particularly special. I politely replied that I'd be notified of any progress. I didn't expect to see Flap again almost two years later with this entrepreneurial reflection. I really like the line in the article: "Code can be forked, but culture cannot; the skeleton can be copied, but the soul cannot." A company's early stages are essentially a reflection of the founder's personality and soul. The long-term development of a product doesn't rely on clinging to resources, but on product-market fit (PMF) and a culture rooted in the community. This kind of entrepreneur gives me even more confidence in the cryptocurrency market. twitter.com/tongtongbee/status...
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Tongtong Bee 🐝
02-01
Surprisingly, Saylor, the owner of MicroStrategy, appeared in Crypto's documents. However, unlike the other people's scandals, Saylor's information seemed like positive publicity. In a 2010 email, Epstein complained that Saylor behaved like a "drug-addicted zombie" at a charity gala, socially awkward, barely speaking, only mentioning his yacht trip to Cannes. It was precisely this cool, "pretentious" demeanor that prevented Saylor from easily getting involved in those complex social networks. Watching Saylor's videos, he seems like a serious person who doesn't smile much. I've also heard that he's not married, so he might not be good at handling relationships. This may be related to his childhood experiences. I heard him tell his story before; he was born into a military family with strict upbringing, and spent his childhood traveling with the military to air force bases around the world. His childhood friends also changed frequently, which made him a bit lonely, but it also fostered his love of reading and calm thinking.
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