To what extent has this market been affected? Today, I had a chat with several quantitative teams, and they are all preparing to participate in Binance Wealth Management activities and go for contract hedging. For example, recently A's wealth management was 16.9%, and the contract still has a positive capital fee. After hedging, the capital fee and calendar wealth management are both included... The quantitative team rarely participates in these retail markets, which shows how poor the market is now. Quantitative analysis has no returns at all. Binance's U standard is only 6-8%, and Binance's 1-3%. This is still Binance, and other institutions cannot see it... The core willingness is that there is no market for counterfeit products, and quantification cannot be achieved. It is too difficult.