Zou Shiming, who has been trending on hot searches every day recently, was actually trading crypto. He lost 4000w—what exactly did he buy?

In 2017, after Zou Shiming retired from boxing, he had a fortune of hundreds of millions in hand and launched a high-profile business. He poured over 100 million into renovations, paid 50 million in annual rent to open a high-end boxing gym, and also followed the trend by branching into hot pot, milk tea, and an MCN network—along with a whole stack of side businesses;

In 2018, the boxing gym continued to suffer massive losses. Ran Yingying took risky measures, investing 80 million into high-interest P2P loans and trading crypto to patch the holes;

From 2019 to 2021, his wealth-management plan blew up across the board, and he ran away. His original capital of tens of millions was gone for good, and all his side businesses shut down;

In 2022, the boxing gym in Shanghai was shut down for 4 months with zero income. High rent and salaries still had to be paid on schedule. The capital chain completely collapsed, triggering large-scale refund requests and employees demanding back pay;

In 2023, the boxing gym was shut down for good and went bankrupt;

In just seven years, he racked up cumulative losses of nearly 200 million. With no other choice, he sold off his luxury home and luxury goods to repay debts.
$BTC ‌