Hashkey earns 700 million and loses 1 billion annually, becoming the largest OTC in Hong Kong. After three months of listing, the stock price dropped from a high of 7.98 yuan to 3.88 yuan. Last Friday's annual report was released, but today it plummeted by over 10%. It's really tragic. I roughly checked the data growth of institutions, to be honest, most of them are tired of it. There is a data that is quite interesting and worth mentioning separately. The trading volume of stablecoins has already accounted for 48% of HashKey. Almost halfway, comrades. That is to say, people who come to HashKey, Half of them are either here to speculate or to exchange money. USDT to Hong Kong dollars, Hong Kong dollars to USDT. Import and export channels, compliant currency exchange. So, HashKey has clearly become a crypto version of a forex exchange, not an exchange. After all, the retail transaction volume plummeted from HKD 353 billion to HKD 73.4 billion, I cut 80% in a year, but I can't blame it either. HashKey may be the most hardworking crypto company in Hong Kong. The RWA scheme, fund license, Hong Kong stock listing, and stablecoins are already the most comprehensive. It can do it on its own, basically achieving the head. The rest depends on the overall environment.