Futu and Tiger both plummeted by over 40% According to a report by Golden Finance, on May 22nd, before the US stock market opened, both Futu and Tiger plummeted by over 40%. On the news front, the China Securities Regulatory Commission announced that the illegal cross-border business activities of Tiger, Futu, and Changqiao violate China's securities, fund, and futures laws and regulations, disrupt market order, and must be resolutely cracked down on. According to relevant regulations, the China Securities Regulatory Commission plans to confiscate all illegal gains of domestic and foreign entities related to Tiger, Futu, and Changqiao, and impose severe penalties in accordance with the law.