Tencent News reported on the biggest financial regulatory storm in Hong Kong in recent years, mentioning an anonymous whistleblower letter about IPO cornering circulating in Central recently. I took a look—raising retail investor funds to manipulate IPOs, taking company stocks, then splitting 70% of the money from selling the stocks, leaving only 30% for investors. In the end, half of that 70% profit goes directly to the chairman. This tactic feels way too familiar. Could it be that the crypto whales have moved to Hong Kong stocks? Haha.