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CZ, Justin Sun, Durov… Every founder of crypto ecosystem is trapped under the huge waves of the market, either calling for wind and rain, being sent to prison, hiding his identity, or leaving his hometown, and the story of capital continues…
The capital market is like a game, and only by mastering the right strategy can you become the final winner.
The subsequent impact of the incident continues to ferment as social media Telegram founder and CEO Durov was arrested at an airport near Paris, France.
The Paris prosecutor in charge of the case said in a statement that France has filed more than a dozen charges against Durov, and relevant French government departments are investigating fraud, drug trafficking, organized crime, child pornography, and publicity on Telegram.Terrorism and the spread of hacking tools and other illegal acts.Durov was accused of failing to take appropriate measures to prevent these crimes.
The TON chain ecology based on Telegram has shown an explosion since 2024, and Telegram’s Web3 soil has given the TON chain ecology a soil for community and ecological fission.After Durov’s arrest, TON network suffered two major interruptions with abnormal load, and Toncoin also suffered a collapse of more than 20%, and has now fallen to the tenth place in the market value of Crypto tokens with a market value of US$13.1 billion.
Coincidentally, in the Crypto circle where money never sleeps, stories like Durov are staged every day.
Many tycoons who have been called for the wind and rain have been imprisoned and become prisoners. SBF, the founder of the American cryptocurrency trading platform FTX, was sentenced to 25 years in the United States for stealing $8 billion in customers.Incarceration; the founder of Terra, who was the first in the Korean currency circle, was detained in Montenegro waiting for subsequent trials; affected by the Terra case, the Terra case, threeZhu Su, co-founder of Arrow Capital, was arrested while trying to leave Singapore; Zhao Changpeng (CZ), a founder of Binance, known as the largest exchange, was sentenced to 4 for money laundering violations and violations of US sanctions regulations.Months in prison and is still serving a sentence in the United States.
In addition to these big shots, the FBI has been committed to unearthing the true identity of Satoshi Nakamoto, the founder of BTC network. XRP just ushered in a phased “victory” some time ago before the century-old lawsuit with SEC, but the SEC’s silent attitude seems to indicate this.The storm has not yet ended completely.Justin Sun, who has always stood in the spotlight and is known as the richest man born in the 1990s in the currency circle, and his Tron are like an exquisite puppet master, trying hard to weave his own story under the scrutiny and investigation of China-US regulatory gaze.
Recently, OpenSea received a notice from SEC Wells – an informal reminder issued by the US SEC before a civil lawsuit against listed companies in the US, becoming another SEC targeted by the SEC after CoinBase, Li-do, Bittex, Uniswap, and Robinhood.Encryption projects.
It seems that every crypto star will be involved in the gray area of regulation and law, and is under the hammer of strong regulation.On the one hand, the entire crypto industry is thriving, and the public chain ecosystem is blooming like mushrooms after a rain. The GameFI ecosystem has become a lifesaver for the people at the bottom of Southeast Asia. The crypto power has begun to penetrate and affect the US election. BTC is expected to become the strategic reserve of the United States after Trump enters the White House.On the other hand, crypto companies and exchanges dancing on the wire, waiting for the trial of fate under the sword of compliance, money laundering and counter-terrorism. The same majority of cryptocurrency developers, whether in securityMost people choose to hide their names when considering or practicing decentralization.
Since the birth of the Bitcoin White Paper in 2008, in the 16-year dimension, the Crypto industry has been surging with people, and the changes in technology and the rise and fall of business stories are like crucian carp washing over the reefs of the times.When we look back, we see vivid characters behind the mark of the times are trapped in the quagmire of fate.
The ancestor of Ton Ecology: “Will the strongly rising TON Ecology be affected by the arrest of the Internet Robin Hood Durov?
Unlike many Web3 tycoons who are trapped in the quagmire, Durov, the founder of Telegram, known as “Internet Robin Hood” and “Russian Zuckerberg”, and his Telegram have become famous in the traditional business world.This genius developer who is away from the regulatory system is a rebel in the eyes of governments, while Durov is just a liberal. In his opinion, wealth and obedience to regulation have never been more important.
“I am not fighting for freedom, I am just using my own existence to prove that freedom has not disappeared.” – Durov once said.
As early as 2006, relying on Zuckerberg FaceBook’s inspiration, Durov and his brother created the VK social platform in Russia and achieved great success in the Russian-speaking world. Although VK gave him financial freedom, he was in supervision.However, there are many frictions with the Russian government on the issue.The Russian Federal Security Bureau asked VK to submit some personal information that took the lead in inciting the Kiev issue on the Internet, but was severely rejected by Durov.The outcome of using commercial individuals to fight against national power can be imagined.
In the VK incident, Durov angrily denounced the Russian government and the big capital that was preparing to acquire VK. Although his personal wealth was enough to reach the top of the wealth circle, Durov was like a poor programmer who shouted for technology and freedom.Likewise, in the fight against the entire world of power.The final chapter of the story comes to an abrupt end after the armed forces attacked the Durov family at night. Durov lost control of VK and was eventually acquired by Mail.ru, a close Kremlin company.
This spirit of not fearing power and advocating liberalism will evolve into the cultural core of Telegram in the future and is praised by the Crypto circle.
In 2013, Durov and his elder brother Nikola founded the instant messaging software Telegram, a top social software with more than 1 billion users worldwide. This time Durov has only one goal: to create a free softwareand put the defense of personal freedom and privacy first.
In order to achieve this goal, Durov cleared his real estate in Russia after selling his VK shares, and then left Russia and moved to Dubai. From then on, Dubai became the base camp of Telegram, and Durov also started his ownWandering life.Learned from the lessons of the VK incident, in addition to Russian nationality, Durov also won the nationality of the United Arab Emirates, France, St. Kitts and Nevis.Like the icon of a paper plane, it can fly in all directions.
Telegram, a social software with over 1 billion users worldwide, is known as the world’s most secure and anonymous chat platform with end-to-end encryption. The encryption mode of its application is based on 256-bit symmetric AES encryption, RSA 2048 encryption and Diffie-HellmanThe secure key exchange protocol uses two-point direct transmission and uses key encryption. It cannot be deciphered without a third-party server. The software provides a function of burning after reading.
Durov’s attitude of unwilling to include Telegram in the regulatory system of content review in various countries. This extremely romantic liberalism quickly attracted countless users for Telegram, but it was like a double-edged sword, becoming the preferred social network in the crypto world.Software also provides a convenient breeding ground for terrorism, allowing mainstream countries to thorn in their backs, like thorns in their throats.
The ecological development of TON blockchain is a very important part of monetization in the Telegram business model. On the one hand, Durov, as a technology resident, is a supporter of Crypto.At the same time, Telegram’s privacy protection almost ruined the path of monetization of commercial advertisements, and the huge user base and the prosperity of community culture are simply a nourishing place for Crypto public chains.The strategic significance of TON is to provide Telegram users with fast and secure decentralized payments and digital identities.Based on this attribute, TON must be a high-performance public chain, and scalable and shardable have become the path of TON development, which is also the reason why the TON ecosystem finally chose an asynchronous architecture – although it will be restricted in some fields, it is large-scale.The user application is the problem that TON needs to solve.
What’s more interesting is that the advertising traffic monetization of Telegram’s public channels is ultimately achieved through TON.
Currently, TON ecosystem relies on Telegram’s huge user base based exposure, viral marketing and TON technical support. Ecological payment and wallet are the underlying layer. GameFi, NFT, and MeMe projects have obtained user base and rapid growth that exceeds the general Crypto’s general Crypto.For example, DOGS and Notcoin projects have accumulated millions of users in a short period of time.It can be said that the beginning of the bull market in 2024 is Bitcoin ETF, and the hot spots of the narrative are MeMe and DePIN, so the strongest public chain is definitely the popular TON.
But after Durov was arrested, the development of the TON ecosystem would slowly raise a question mark.
In fact, Telegram’s legal risks have always revolved around Durov. As early as after the 2015 Paris attack, Telegram was accused by France of not fulfilling its obligations on counter-terrorism issues.This time Durov was arrested, the French government accused Telegram of refusing to respond when the authorities asked for illegal actions on the platform. Durov also did not act even though he knew there were criminal activities on the platform.
Against the backdrop of countries’ counterattacks on terrorism, political disputes and “participants” in local wars, Telegram has become a thorn in the side of governments, especially in this Russian-Ukrainian conflict, which has become a communication tool for both sides of the war.The Western camp has wanted to obtain Russian communication content more than once.Many experts analyzed that Durov’s arrest was also due to geopolitical needs.
At present, Durov has provided a deposit of 5 million euros and has been banned from leaving French territory.He faces a maximum sentence of 20 years. Under such high pressure, it is probably difficult to maintain his pursuit of the bottom line of freedom.
As for the direct impact of the TON ecosystem, Durov was arrested. With two major interruptions in the blockchain network, block production stagnated, which triggered local panic and caused an earthquake with a drop of more than 20%.After the brief retracement of liquidity, the next serious problem is that it has been attacked by Western countries. The user community of the TON ecosystem has attracted exchanges in the past, but now it is necessary to consider risk control, and the expectations of several heavyweight projects in the pastThey are all online Binance, and now similar expectations are probably going to be disappointed.
Fortunately, the TON ecosystem is decentralized enough. The bridges of Web 2 and Web 3 built by Telegram and TON do not seem to be affected by the Durov incident for a long time. The real test for TON is that if the Telegram ecosystem isCan his ecosystem continue to flourish if it is really included in supervision and left behind?
The founder of Binance Ecology: Former “richest Chinese” CZ serves sentence in the United States
In the Crypto industry where wealth effects gather and money never sleeps, on the edge of money and power, in the center of real and virtual worlds, this former “richest Chinese” who once topped the Forbes list, even looking at human history, BinanceThe story of CZ, the founder, is legendary.
Even the most determined believers of Bitcoin rarely have the courage and courage of CZ. When Bitcoin soared and reached the position of more than 200 US dollars, CZ, who had just come into contact with the Bitcoin white paper, had the courage to come in – he sold it.I lost my house in Shanghai and took all my Bitcoins.It also kicked off for my legendary life.
CZ has been dealing with securities trading for the first half of his life. When he came into contact with the Crypto industry, CZ, who has transaction sensitivity, soon discovered that this industry is not only full of primitive opportunities, but also full of wildness and fraud.Even the main trading scenario of Bitcoin at that time was the dark web.It is precisely such illegal transactions that are rampant, which is also rapidly driving the price of Bitcoin.
After only one year of contact with the industry, Mt. Gox, the world’s largest Bitcoin exchange, burst, and its suspected custody and theft caused 750,000 Bitcoins to be lost.CZ, who saw the opportunity, launched its own exchange – Binance in 2017, an exchange that was safe enough to hear the name. This was also the most simple hope for everyone in the market at that time.
The turning point of the matter came after the issuance of the 94 document. After the ICO was cleared out, Binance ushered in a rapid accumulation of registration volume due to the full clearance at the price after the increase.Under the increasingly strict domestic regulatory system, CZ and his Binance began to go overseas, opening up the curtain of his digital vagrants.
Unlike the domestic market that has been baptized by the market and is highly inclined, Binance is in the overseas market. Five months after it was launched, Binance attracted 6 million users with its efficient performance, covering more than 180 countries, and has a single-day trading volume.More than $3 billion.It also became the world’s largest Crypto exchange.
But the friction between Binance and the traditional world began to expand from the moment his size began to expand, and the earliest conflict was with the investment giant Sequoia Capital.Sequoia Capital is known as the number one equity investment industry in Classical Investment. Because Sequoia Capital’s process from valuation to later back adjustment and then to investment is too long, CZ said bluntly: The valuation you gave is too low now.Turning around and engaging in IDG’s negotiations.
Although CZ said that she was talking to IDG about a Series B financing, IDG’s investment was eventually ruined due to the high pressure from Sequoia Capital and the intervention of the court.After Binance’s complete rise, CZ started a counterattack, and all projects related to Sequoia Capital could not be on Binance.
However, Binance’s globalization strategy soon ushered in the first problem: due to the intricacies of the KYC process and the wild growth of the world, many money from unknown sources began to be traded through Binance.Especially in countries and regions on the U.S. Treasury’s high-risk area list, the U.S. government suspects that there are drugs, terrorism, child abuse, etc. that can be involved.
In May 2021, Bloomberg released a report saying that Binance is facing investigations on money laundering and tax evasion from the United States.In August 2021, Binance began to ask customers to provide KYC information.
Binance’s real trouble comes from the struggle with FTX and the high-pressure control of the global Crypto market behind it.In this commercial war, the FTX business empire collapsed overnight in less than 10 days, and CZ was the one who nailed the last nail to the coffin with his own hands.After Alameda Research liquidity problems were exposed, SBF began to put out the fire urgently, but CZ said it was worried about the Luna-style collapse and would sell FTT, which was more than tit-for-tat.After SBF failed to make a comeback plan with Binance, Binance tore up the agreement and said it would give up the acquisition of FTX.
The last straw that broke the camel’s back finally completed the destruction of FTX.But Binance’s attitude may really annoy people from Wall Street and the White House.It’s not just that Binance failed to complete the rescue of FTX that led to a systemic financial crisis in the US market, but more importantly, the United States cannot tolerate the world’s top digital currency exchanges being out of control.
When regulatory issues in various countries come, Zhao Changpeng came one after another. The problems left by the era of wild growth forced Binance to frequently face inquiries from traditional regulatory authorities. Singapore police forces launched financial crime investigations on Binance, and Dubai virtual asset supervisionThe bureau asked Binance to provide more information about its audit procedures, and in March 2023, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Treasury Department sued CZ and Binance for multiple violations of the Commodity Trading Act and related regulations.At the same time, the U.S. Department of Justice also filed several criminal charges against CZ and Binance was charged with three counts, including violation of money laundering regulations, conspiracy to conduct unlicensed transfer business and violation of U.S. sanctions, and the core of the charges Binance faces is focused onViolating anti-money laundering regulations.
U.S. Attorney General Merrick B. Garland said that the Binance platform is filled with criminals from all over the world, using Binance to transfer various types of illegal funds and other criminal proceeds through cryptocurrencies.The U.S. Treasury Department said Binance’s violations include failure to prevent and report suspicious transactions with terrorists, including Hamas, Palestinian Islamic Jihad, al-Qaeda and the Islamic State in Iraq and Syria.Court documents show that Binance has allowed at least 1.1 million related transactions, with a total amount of more than $898 million, involving Iranian clients.
After repeated trade-offs and negotiations, Binance and its CEO CZ have admitted several criminal charges from the U.S. Department of Justice.In addition, Binance will pay a criminal fine of $1.8 billion and be confiscated $2.5 billion.The total fine is $4.3 billion, of which $3.4 billion will be paid to the U.S. Treasury Department’s Financial Crime Enforcement Network Bureau, and another $968 million will be paid to the Treasury Department’s sanctions unit.This is the largest fine for the U.S. Treasury Department to date.
Binance will also completely withdraw from the U.S. market, Binance.US’s Binance U.S. subsidiary will continue to operate in the U.S., and CZ agrees to resign as Binance CEO and is banned from holding any leadership position at Binance.
On April 30, U.S. District Judge Richard Jones sentenced CZ to four months in Seattle prison, and his current release date is scheduled for September 29.There is no doubt that if CZ Jinben retires in the end, he will become a life winner in this industry.Even if they are sent to jail now, even such a judgment may affect Binance’s long-term low in the future – after all, Binance was able to rise because of market opportunities, and now they leave the opportunity to latecomers.
It is still unknown how long it can be held in Binance’s leading position. Binance has always performed well in the spot and derivatives trading markets.However, recently, its trading volume has been declining.According to The Block, Binance’s share in the spot market has dropped to 37% from more than 62% earlier this year.In the futures market, Binance’s leading position in open contracts has also been surpassed by CME.
On the other hand, BNB’s performance and BSC have also shown weakness. In the face of the impact of the new public chain and the decline in transaction share, it is not only a question mark to see how long Binance can maintain its current leading low.
But at least, CZ’s Crypto has been full of legendary colors for ten years.
Tron Ecology Ancestor: Controversial Justin Sun and his Tron Field
If the most famous Chinese entrepreneur in Crypto is the first to be a Chinese entrepreneur, except CZ.
Speaking of Justin Sun, this talented man who founded Tron with the most top marketing methods and the sense of opportunity is full of controversial labels – a talented boy from Peking University, a plagiarist, an entrepreneur, a newcomer in the currency circle, and a rich overnight, hype master, 10 billion yuan worth, Jia Yueting in the currency circle, Buffett’s lunch terminator, Grenada ambassador, etc.
The time when Justin Sun founded Tron was the hottest ICO in 2017. In Tron’s white paper, Justin Sun conceived “a globally decentralized free content entertainment system.”However, the Tron White Paper at that time was criticized by many industry insiders for not having technological innovation and was full of plagiarism about Ethereum.This later caused V God and Justin Sun to argue with each other on social media.
But in 2017, full of bubbles, under the promotion of marketing expert Justin Sun, the names of Wu Jihan, Li Feng, Shuai Chu, Dai Wei and others appeared on Tron’s private equity list, with the “air coin”It is questioned that Tron issued 100 billion Tron coins and raised about 400 million yuan through ICO.Tron also took off successfully under this wave, and Justin Sun truly achieved his wealth goal.
By 2018, Tron TRON successfully ranked among the top ten virtual currencies in the world.
In addition to the success of Tron, Justin Sun seems to have a ability to weigh heavily on high returns every time and cash out without hesitation.There has always been a joke saying on social media: Brother Sun smiles and lives are unpredictable.
When Tron’s rise was the craziest, Justin Sun sent 200 million TRXs to the exchange for Ethereum for 19 consecutive days, which invisibly formed a cash-out.Xu Zijing has been silent on the investment interest dispute story between Justin Sun and Xu Zijing, a Martian man.
In 2019, Justin Sun spent $4.56 million to buy Buffett’s lunch.At that time, Justin Sun was deeply trapped in the controversial quagmire of the scam of the Super Tron Community. During the entire publicity process, the Super Tron Community has always emphasized that it is closely connected with the tron, but the tron and Justin Sun have not yet made a strong refutation..It was not until after the Tron Super Community ran away that Justin Sun came forward to clarify that the project had nothing to do with Tron.Obviously, such a remark cannot convince everyone.Even when Justin Sun posted on Weibo to refute the rumors, the name Tron Super Community was not mentioned throughout the whole process.
Shortly after the Super Tron Community Incident, Caixin News suddenly broke the news: After investigation and confirmation, since June 2018, the regulatory authorities have issued border control instructions on some sensitive groups in the Crypto industry such as Justin Sun.The Office of the National Internet Financial Risk Special Rectification Group has recommended that the public security organs investigate Sun Yuchen’s suspected illegal fundraising, money laundering, pornography, and gambling.
In response to this, Justin Sun’s report was false immediately.”Caixin.com’s report is completely untrue. I’m safe. When my condition recovers and improves, I will meet with the outside world, which will make everyone worry.”
At the same time, Justin Sun posted two tweets on his Twitter, both showing his home in San Francisco and the Bay Bridge, the iconic San Francisco building behind it.
However, it is rare that on the next day, Justin Sun posted an apology statement on Weibo.In the full text, Justin Sun feels deeply guilty about his over-marketing and keen on hype.He also said that Caixin is a well-known journal that he has subscribed to and studied repeatedly in college. Ms. Hu Shuli is also her senior teacher whom she respects very much.At the same time, he also expressed his apology to Wang Xiaochuan and expressed his active cooperation with regulatory agencies in their research and guidance.
It is worth mentioning that the “regulatory authority” appeared nine times in the apology letter, and so far, Justin Sun has not appeared in mainland China in public.
After that, Justin Sun, who had been silent for a while, was in a prevalent GameFi track, Tron launched the first GameFi project, Win NFT Horse, in the ecosystem.In Sun Yuchen’s view, GameFI will become the next blockchain burst point, just like DeFi.Win NFT Horse is a GameFI+NFT project jointly launched by Tron, APENFT Foundation and Winklink.
Thanks to Brother Sun’s call and the influence of popularity, horse racing not only added fuel to the GameFI track, but also pushed Win NFT Horse to the top of the popularity of the entire chain game.Players can get NFT token rewards through the game, and obviously, Tron’s goal is to snipe Axie Infinity.WIN tokens have also become the second TRON token listed on Binance after BTT.
However, under the Huatuan Jin Clan, in less than two months, players of Win NFT Horse began to report on the withdrawal of problems.The official silence soon gathered into a swearing sound on Twitter.
Not long after, Justin Sun finally posted a message to respond: It is untrue that horse racing cannot withdraw cash on the Internet. The real situation is that horse racing games are particularly popular, reflecting the surge in demand. The original system cannot carry such a large-scale withdrawal request. Automatic withdrawal and risk control systems have been developed., strive to deal with all backlog problems after 48 hours.
Facts have proved that the withdrawal problem of horse racing games was indeed solved in the end, but the popularity of horse racing games has also made many players lose patience after this battle, resulting in a huge spill.As the hottest GamrFi project at that time, the fever of horse racing even cooled down to a certain extent, and even the entire market experienced a period of cold winter after GameFi cooled down.
So far, although Tron Ecosystem is developing in full swing, Tron Ecosystem’s project tokens, JST, BTT, and WIN, have not escaped the fate of plunging after the popularity.
Justin Sun, who has been in the whirlpool, quickly found himself a brand new identity, Grenada’s permanent ambassador to the WTO and ambassador to the special and plenipotentiary.In return, multiple tokens, including Tron created by Justin Sun, have become Grenada’s legal digital currency.Tron TRON will also provide blockchain infrastructure for Dominic and is authorized to issue the national token Dominic Coin (DMC).
Although Grenada is one of the poorest countries in the Caribbean, the identity of a permanent WTO ambassador is obviously able to become a powerful shelter when some troubles come to your door.
With his official identity, Justin Sun quickly targeted the exchange, and Huobi, one of the three major exchanges, was included in the capital.Not long after that, the exchange, which was renamed Huobi, cooperated with the Dominic government to launch the Dominic Digital Citizen Gameplay.What is more interesting is that mainland citizens can receive Dominic digital identity and then conduct virtual currency trading activities on Huobi and other platforms, which invisibly bypasses the exchange’s KYC supervision.
Sure enough, Justin Sun seemed to have foreseeable ability, and trouble soon came to him.First, in a report released by the American technology blog The Verge, The Verge posted a long article to Justin Sun, including suspected fraud and avoiding the ICO (initial token issuance) ban during the XN currency exchange Poloniex,Money laundering, evading the law and other charges, and said it is being investigated by the FBI, and the IRS also plans to file a lawsuit.
At that time, Justin Sun posted five tweets in a row to respond toughly.He also said that as Grenada ambassador to the World Trade Organization, he had extensive diplomatic immunity during his tenure, including affirmative maintenance in the civil and criminal fields, which means that the FBI or the IRS and all investigations or prosecutions conducted by the FBI and the IRS areNo legal recognition.This identity not only granted him a special litigation status, but also became the key basis for his refutation.
In June 2022, after the Grenada election, Justin Sun was deprived of his status as an ambassador. The New Kuomintang, which was granted Sun’s position at the time, was removed from the National Democratic Conference.Justin Sun also publicly confirmed that he had stepped down as Grenada’s ambassador to the WTO on March 31, 2023.
According to Coindesk, the SEC announced a complaint against Justin Sun and his three wholly-owned companies, Tron Foundation Limited, BitTorrent Foundation Ltd. and Rainberry Inc. (formerly BitTorrent), accusing Justin Sun of providing and unregisteredSelling crypto-asset securities Tronix (TRX) and BitTorrent (BTT), as well as manipulating TRX’s secondary market through a large number of shuffle trading fraud involves buying and selling securities simultaneously or almost simultaneously making it appear to be trading active, but actuallyBenefit ownership has not changed in actual terms.
Tron responded that the Securities and Exchange Commission’s civil litigation lacked basis.Justin Sun also applied to the court to reject it, emphasizing that the SEC has no jurisdiction over its Tron Foundation in Singapore, and that the BTT on TRX is sold completely overseas, and has taken relevant measures to avoid the US market.The SEC counterattack believes that from 2017 to 2019, Justin Sun stayed in the United States for more than 380 days.The case has been rejected by the court and the judge chose to stand on Tron’s side.
Among the SEC’s allegations, Justin Sun’s Bittrex is suspected of money laundering transactions and selling unregistered securities. The SEC filed such a charge undoubtedly because Justin Sun has touched the bottom line of his supervision. I wonder if the SEC will give up easily?You should know that the SEC has almost zero tolerance for Crypto’s issue involving the sale of unregistered securities, and the allegations of suspected money laundering transactions are obviously more serious.
Having said that, if we face the pressure of investigation between China and the United States, nationality and law enforcement boundaries are not shields. Only when there is no problem in our personal situation can we be safe and sound amidst the troubles.
At the moment of MeMe wave, Justin Sun and Tron once again targeted the MeMe track.As soon as SunPump is launched, it announced a series of stimulus subsidies, 10 million ecological incentive plans, and free gas fees.When facing the media, Justin Sun publicly stated that the current MeMe Launchpad is a stock game, and the platform must have low launch costs, deep liquidity and flexibility.And hope to inject fresh vitality into the quiet market through SunPump.
In the process of promoting the MeMe platform and tokens, Justin Sun once again demonstrated his top methods.Justin Sun even replaced the avatar of X account with the image of the Black Myth Wukong, and said that he would send you a wave of benefits of the Black Myth Wukong.The related MeMe token Sun WuKong soared overnight, with the highest increase of 391 times.
Shortly after SunPump went online, its market value exceeded US$1.1 billion, with more than 20,000 active users per day.
Recently, there have been many rumors about Justin Sun on the X platform, and there are discussions related to the constant appearance of black U on the stablecoin on Tron.Obviously, the hot topics, topics and controversies have never stopped.
The ancestor of the BTC ecosystem: Bitcoin with global consensus and the missing Satoshi Nakamoto
Who is Satoshi Nakamoto?This is a difficult problem that has plagued the FBI for many years.It is also the answer that the encryption circle wants to know the most.There is no doubt that Satoshi Nakamoto, known as the father of Bitcoin, is the top cryptographer geek, regardless of whether his real identity is an individual or a team.
In 2008, Satoshi Nakamoto published a paper titled “Bitcoin: A peer-to-peer electronic cash system” and described an electronic currency and algorithm called “Bitcoin”. In 2009, the networkThe official launch has opened up the great journey of the Crypto era.
After the first Bitcoin client program is released, according to the set algorithm, the computer solves the computing problem through large CPU computing power. People who provide computing power in the same block have the probability of obtaining Bitcoin.Satoshi Nakamoto was the first to run a Bitcoin network and also obtained the first batch of 50 Bitcoins in the world.
Satoshi Nakamoto’s philosophy is to create a decentralized payment system. Without the transaction friction and control of centralized institutions, more direct transactions end-to-end. This emerging concept quickly became popular among programmers.Come.What made Bitcoin break the circle the most was the famous Bitcoin Pizza Day – a programmer used 10,000 Bitcoins to buy two pizza, marking the recognition of the transaction value of Bitcoin.As well as WikiLeaks’ application of Bitcoin in transactions, the concept of Bitcoin began to spread through the circle and gradually became well known to more people.
Since the end of 2010, Satoshi Nakamoto disappeared from the Internet.There is no exact news about him except that he first claimed on the Internet that he was a 37-year-old man living in Japan – and the content he promoted was generally considered fake news, which he never said onlineIn Japanese, his English proficiency is more like his native language.
After the Bitcoin price reached an all-time high of $73,000 this year, it created a miracle about finance and cryptography in human history.It is also a digital currency revolution, providing society with a new way to transmit and store value.Bitcoin has the highest market value and surpasses silver, becoming the eighth largest asset in the world.
Considering asset security and national information security, who is Satoshi Nakamoto, who has millions of Bitcoin in his account, is also the goal that the FBI has been tirelessly seeking. After the Bitcoin ETF was passed, hedge funds, pension funds and banks began to startWith large investments in Bitcoin spot ETFs, traditional investors have also begun to accept this asset class.As of August 15, 701 new funds have reported holdings of Bitcoin spot ETFs to the SEC, with a total holding of nearly 1,950.
Although people have been constantly jumping out and admitting that they are Satoshi Nakamoto, they ultimately cannot prove themselves.The FBI has stated that Satoshi Nakamoto may be “one or more third-party individuals” and neither acknowledges nor denies the knowledge of Satoshi Nakamoto.
Australian computer scientist Craig Wright has been insisting that he is Satoshi Nakamoto, but later a British judge ruled that Craig Wright was not Satoshi Nakamoto or the author of the Bitcoin White Paper, and he encountered it many times.After police raids, investigations and assets freeze.Satoshi O also officially stated on his personal website that he is not Satoshi Nakamoto.
Musk once tweeted that the name of Nakamoto Satoshi comes from the combination of NAKAmichi, MOTOrola, SAMSung, and Toshiba.
The general consensus in the crypto circle is that this is a crypto punk with decentralized ideals and anarchism. Unless it is caught by the FBI, he is afraid he will never show up.After all, without a firm belief, it is impossible to create this cryptographic miracle that is rare in human history. Or if you have some selfishness, it is difficult for so many years to remain unmoved in the face of such a wealth explosion.
As of 18 pm on September 9th, Beijing time, the price of Bitcoin was $55,130, which is more dreamy than the story of the tulip scam that people talk about, but it is a real business story.
The founder of Dogecoin Ecology: The founder left sadly without holdings, Musk became the newest caller king
There is always the craziest focus in every financial market, and this year’s focus of Crypto must be MeMe coins.Looking at the Crypto industry, the most successful MeMe is Dogecoin that Musk called for.But looking back at the history of Dogecoin, it is full of absurdity and ridicule.
When Bitcoin began to show its strength and the price was getting higher and higher – the friction between Bitcoin transactions at that time was huge and it was not suitable for small payments at all.
Dogecoin is a digital currency created by programmer Billy Marcus in 2013. He and a friend researcher Jackson Palmer think about creating a small-scale digital firebike similar to tip payment.The reason why it is called Dogecoin is because it uses the Internet emoticon package that is popular all over the world – the Shiba Inu emoticon package of Doge meme.Jackson Palmer, who was working at Adobe at the time, said on Twitter that he was “investing Dogecoin and firmly believed it was the next hit.”
What’s more interesting is that the origin of Dogecoin is indeed an imitation and ridicule of Bitcoin. Under the news of Bitcoin’s rapid growth, this hottest emoticon package on the Internet at that time will appear, representing the poster’s comment on Bitcoin.Marcus also admitted that he wanted to use this method to express his contempt for the rising speculative atmosphere in the currency circle.
But because of its interesting patterns and unconventional distribution method – the first year of issuance was 100 billion, and the annual issuance of 5 billion will be issued every year without a ceiling, and it will always expand.After its release, it quickly gained the favor of the community. This project, which is not very technical but has great communication, quickly became a dark horse in the market.Billy Marcus also made his mark in the digital currency community and was hailed as the “father of Dogecoin”.
Dogecoin’s technology is based on Litecoin and is improved with reference to Bitcoin’s code, which improves transaction speed through different hashing algorithms (Scrypt) and faster block generation time.The generation time of each block of Dogecoin is set to 1 minute, and the transaction rate is significantly improved compared to the 10 minutes of Bitcoin.
Of course, Billy Marcus certainly did not expect that this kind of online meme culture and community communication did not have much sarcasm from the bottom of the technology, but it created a future mainstream track for Crypto.And this communication path rooted in the community has become the core logic for the future development of blockchain projects.
After Dogecoin was launched, it triggered the communities Reddit and Twitter. In less than two weeks, people spontaneously established blogs and forums for Dogecoin, and their followers quickly exceeded 1 million.In everyone’s eyes, Dogecoin is a fun and cool thing.
However, after the initial popularity, Dogecoin was not very successful. At least there was no possibility of the future at that time, and the two founders obviously did not have much patience and expectations for Dogecoin.The two sold their Dogecoin in 2015 and withdrew from the Dogecoin community.Even they and Crypto have no more intersection.After selling all positions, Marcus bought a used Civic.This is his biggest profit in the Dogecoin project.
After they withdrew, Musk’s entry pushed Dogecoin’s carnival to a climax, and also made Dogecoin the top ten tokens in the currency circle with market value overnight and the largest MeMecoin.Everyone is familiar with the following stories. The effect of Dogecoin has promoted the prevalence of many MeMe cultures such as SHIB and PEPE, and has also become the most mainstream cultural symbol in American society.But since then, the two founders of Dogecoin never built bricks and tiles for the construction of Dogecoin.
What are the ancestors of other ecology today
The Ethereum Foundation has not made great progress recently.On the one hand, with the birth of high-performance public chains, the ecological usable performance of Ethereum has been diverted. On the other hand, the Ethereum Foundation has seriously dragged down the economic form in order to expand the second-tier development. With the foundationThe large number of tokens sold, and the deanning of the value of Ethereum and Bitcoin has caused the ETH market to be sluggish.Ethereum co-founder Vitalik Buterin was also accused by the community of selling coins and enjoying life.
V God recently responded to speculation about his profits from selling millions of dollars in ETH assets, saying that the sale of its holdings is just to support various Crypto asset projects and charity projects.
On-chain analysis company Lookonchain revealed that Buterin transferred 800 ETH to a multi-signature wallet.The recipient then exchanged 477,000 USDC with 190 ETH.Lookonchain also reported that the founders of Ethereum transferred 3,000 ETH to the same multi-signature address on August 9.
These transfers have caused speculation that V God sold tokens to fall in love, but this kind of community joke and suspicion can be said to be a happy distress, after all, Ethereum is still full of vitality.However, what makes V God the most headache now is the dispute between L1 and L2, how to solve the problem of expanding L1, which is difficult to return, and the current situation where ETH prices are not optimistic.
Relatively speaking, Ripple’s recent situation is also relatively moist.This XRP Century lawsuit finally won the near future.
The SEC sued Ripple, accusing it of selling XRP through an exchange involving illegal securities issuance, which was once considered a weather vane for regulation, which triggered a controversy over whether cryptocurrencies belong to securities, and his outcome will directly determine Crypto.Where is the boundary for the ultimate development of the world?In fact, before suing XRP, the US SEC also investigated BTC and ETH, the three giants who were also called blockchain cryptocurrencies at the time, but finally determined that BTC and ETH did not belong to securities.
Until July 13, 2023, New York Southern District Magistrate Analisa Torres ruled that Ripple’s programmatic blind sale of XRP through exchanges does not comply with the definition of an investment contract in the Securities Law and is not considered a securities.Although there are still some regulatory uncertainties, the ruling sets a strong precedent and allows companies like XRP to see a clearer legal path and architecture in the future.
Solana, another company with the top 10 market capitalization, represents a typical story of Wall Street’s strong rise.During Solna’s peak period, its token SOL had a market value of more than 540 billion yuan, second only to Bitcoin and Ethereum.However, in the FTX black swan event, SOL once shrank by 97%, and liquidity was exhausted.But as the Black Swan event dissipated, Solana’s core team has the background of high-tech companies such as Qualcomm and Google. The capital behind it represents the will of Wall Street. It has high-quality underlying code, large-scale financial support, and is a public chain in the United StatesIn this way, he succeeded in Nirvana.
Where there are people, there are martial arts and lakes, let alone in a capital Shura field like the currency circle, where talented geniuses bloom and then pass by like a meteor, and there will be countless geniuses rising and blooming here.There is only one thing that is eternal, that is, people’s desires are always unfilled, and wonderful stories will be staged here.
