Seeing so many people on the timeline using a compliance incident to bash a leading company, regardless of gender or nationality. This scene seems very familiar.

Thinking back, over the past two years, the entire industry has been in a clear downtrend. At some small industry dinners I attended, when everyone was in a bad mood, the common gripe was also centered on this.

Generally speaking, outsiders have no right to meddle in private enterprises. Use my product if you like it, get lost if you don't. But the problem is that when a company becomes the industry leader, it naturally has an obligation to lead the industry. With great power comes great responsibility. For example, if spacx were to collapse now, the entire world wouldn't think about the Mars industry for the time being.

A year or two ago, this company was the absolute leader in the industry. Countless peers and entrepreneurs would bend over backwards every day to curry favor with the management. At that time, it did not lead the industry to choose the right values, nor did it tell users what kind of projects were worth supporting. Instead, using the excuse of platform neutrality, it listed a bunch of high-FDV, low-liquidity one-shot projects. Among these, there were no shortage of projects from friends and relatives. After playing referee, they then became players themselves.

The result is naturally simple: it fattened the scam founders, made users suffer, and buried the real entrepreneurs. In the end, it brought the entire industry down with it. The whole market now believes all crypto projects are scams, and all industry professionals are humiliated in front of outsiders.

It's not to bash them—I'm even a VIP user. It's just a pity to see an era come to an end.