There has been a big event in the cryptocurrency industry these days, which is that the former OKX boss, Xu Mingxing, publicly told everyone to review the funding situation and clear out loan speculators. I received the news two months ago, and today Xu Mingxing posted, which further confirmed my intelligence. In the future, no one will be able to borrow money for cryptocurrency speculation. China needs to strictly investigate Chinese users on exchanges to avoid capital outflows. Because Sun Yuchen had dinner with Trump, it attracted the attention of the higher ups, who are worried about capital outflows. After all, a large number of virtual currency loans have gone bankrupt, so it is likely that the government department requires OKX to conduct relevant reviews Who is Xu Mingxing? He is never taken advantage of. The people around him have embezzled millions, and he has been ruthless in sending them in. In recent years, he has been worth tens of billions of dollars by opening an exchange. The biggest source of income for the exchange is contract players, many of whom take out loans to speculate. Xu Mingxing is eager for you to take out loans to speculate, so he can continue to make money. He came forward to say this issue, and it is obvious that this matter was not decided by Xu Mingxing. In the future, domestic exchanges will have to review funds In addition, Sun Yuchen was close to the Trump family. He cooperated with Trump to issue coins and became the focus of the world. In addition, Sun Yuchen was a Chinese. At that time, many senior domestic officials noticed Sun Yuchen and the currency circle, so they planned to further standardize the currency circle I personally think that this domestic policy is very good. This kind of thing should have been implemented a long time ago. Most of the contract traders in the cryptocurrency circle are heavily in debt and have gone bankrupt. Exchanges eat people without throwing up their bones. Controlling exchanges to review user funds indirectly protects people from losing money. This will also reduce people's debt and prevent bank loan funds from flowing into the cryptocurrency circle, which is a win-win situation Why is there currently only an issue with OKx? At the end of 2020, Xu Mingxing was detained by the national security and police in Shanxi. He had already declared OKX as a state-owned enterprise, and Xu Mingxing admitted that OKX could donate to the country at any time. Therefore, OKX has always had a deep political background. The strongest relationship among these domestic exchanges is OKX, and other exchanges should follow OKX's control over Chinese users in the future All exchanges and governments of various countries can obtain the information of their own residents. It is necessary for exchanges to cooperate with the government to obtain compliant licenses. This is a rule in any country, and often requires exchange cooperation. For example, government departments cracking down on money laundering require OTC information provided by exchanges Binance is no exception. Binance also has information on Chinese relatives, who have been marked as "pep" by internal employees according to Bloomberg, meaning relatives of political figures. As a result, many exchanges gradually conduct fund reviews Unknown people are criticizing Okx and Xu Mingxing. Xu Mingxing would love for you to go to the casino and play. He is eager for you to take out a loan, so that you will lose everything and he will make a fortune. Xu Mingxing is not a fool. He will be very rigorous in his words when he stands in this position. As a casino owner, he said he wants to review customer loan funds. Is this just a show of seeking criticism? This indicates that Xu Mingxing also does not want this, and the current policy is like this The intelligence I have come into contact with in the cryptocurrency industry is top-notch. I have been a top tier player in this market for five years, and I can directly confront the old versions of the exchange. I don't need to be afraid of them. I am different from those KOLs, and I don't need to praise the bad feet of the exchange. Therefore, as a top tier player, I have been in contact with billions and billions of people over the years, including those who have been politically persecuted in China, and all kinds of people I know The United Arab Emirates invested 2 billion dollars in March. On February 1, I was discussing with my friends. I told my friend that Yuan An would soon get the investment from the United Arab Emirates. At the end of May, my friend told me that Sun Yuchen's appearance at the Trump dinner party had attracted the attention of domestic executives. They were afraid of capital outflow, protecting the assets of the Chinese people, avoiding everyone from being reaped by the exchange and losing their money, so they decided to review the funds. In July, Xu Mingxing publicly said this matter. The cool information had known the domestic trend before the old version of the exchange Financial review is a good thing, which shows that the country also attaches importance to the safety of people's property and prevents everyone from losing everything due to loans. I am quite supportive of this approach, and I don't think anything has been done wrong. Everyone should be mentally prepared this year, and many exchanges will conduct financial reviews in the future