Later, FTX founder Sam Bankman-Fried clarified on social media that he did not intend to acquire Huobi. Bloomberg previously reported that Huobi Group founder Li Lin was negotiating with a group of investors.
On March 11, the crime movie "The End of the Night" directed by Wang Tong and starring Wan Qian and Rao Xiaozhi, with a special appearance by Qu Chuxiao and a friendly appearance by Huang Xiaolei, released a finalized poster and trailer. It was officially announced that it will be released on March 21 through the All-China Federation of Art Federation special line.
It is understood that this film is the first film starring the well-known director Rao Xiaozhi. "The End of the Night" focuses on the aging society. It tells the story of the killer nanny Ye Xiaolin (played by Wan Qian) who pretends to enter the elderly's home to carry out murders. During the encounter, she meets the breeder Ma Deyong (played by Rao Xiaozhi), which breaks the original balance of life. The police officer Zhou Ping (played by Qu Chuxiao) is intertwined with their fate in the process of tracing the case... The film arouses the audience's attention and thinking about life and death issues by exploring issues such as the dignity of the elderly, family relationships, and death education.
The first impression given by Ye Xiaolin in the trailer is: meticulous, patient and professional. She wiped the bedridden old man's body gently and perfectly, and she could keep smiling in the face of the old man's unreasonable troubles. The old man's son Ma Deyong saw this and his affection for her grew day by day. But when the camera turned, it was still the same face, the same hands, but holding the knife, and the look in his eyes was so calm that it sent chills down the back, a full sense of contrast.
Rao Xiaozhi also serves as the producer and star of this film. The director's "personal exit" was due to Wan Qian's help. It is reported that she liked the script very much after reading it and asked Rao Xiaozhi to be the producer. After the latter joined, he gave a lot of modification suggestions during the script polishing stage and smoothed out the character logic of the male protagonist Ma Deyong. Wan Qian thought of the stage play "Hello, Madman!" she collaborated with ten years ago. ", Rao Xiaozhi was very talented in acting when he told the actors, so he proposed to director Wang Tong, "Why don't you let Zhi Ge act it himself?" Rao Xiaozhi refused at first, but finally agreed after many persuasion.
Ma Deyong is a zookeeper and the son of an old man. Rao Xiaozhi uses "bluff" to describe him - a middle-aged man who has accomplished nothing, can't find his place in the family and society, and has low self-esteem, so he uses "bluff" to arm himself. When he met Ye Xiaolin, he thought he met Spring, but it was actually a misunderstanding. This tragic color and state of being out of tune with the world make Rao Xiaozhi very interesting.
Director Wang Tong revealed that he has lived with his grandparents since he was a child. In recent years, watching them age and pass away has made him think a lot about life and death. "The End of the Night" wants to explore not only the living conditions of the elderly, but also "how to grow old with dignity" that everyone will eventually face. Judging from the trailer, there are many unbearable scenes in the movie: the old man's festering bedsores, moaning in pain late at night. But the source of this "discomfort" actually comes from reality. Just like Ye Xiaolin's memories: Most of the family members only want to laugh with the old man and are not willing to listen to the old man cry. At the same time, the narrative structure is also very ingenious. The fate of the lion in his twilight years, the sick old man and the "marginal people" forms an intertextuality. The closed space of the zoo and the unfinished building where the old people live form a mirror image. The lion's perspective illuminates the human heart like a "god".
According to observations from Nandu reporters, "The End of the Night" has won many awards at multiple Chinese and foreign film festivals. At the 27th Shanghai International Film Festival Golden Goblet Award, the film won the Jury Award in the main competition unit, and Wan Qian also won the best actress in the main competition unit. At the 19th FIRST Youth Film Festival, the film was not only shortlisted for the feature film section of the main competition, Rao Xiaozhi also won the Best Actor Award, and Wang Tong, Yao Rui, and Shi Yifan won the Best Screenplay Award. At the 20th Rome International Film Festival, Wang Tong also won the best director honor for this film. In addition, "The End of the Night" was selected as the opening film of the "Golden Rooster Domestic Film Exhibition" of the 2025 Golden Rooster and Hundred Flowers Film Festival.
Interview and writing: Nandu N video reporter Chen Zeran
As of the close on March 12, 2026, *ST Huke (600608) closed at 3.13 yuan, down 1.57%, with a turnover rate of 1.11%, a trading volume of 35,300 hands, and a turnover of 11.334 million yuan.
Focus of the day
Transaction information summary fund flow
On March 12, the net inflow of main funds was 1.0085 million yuan, accounting for 8.9% of the total transaction volume; the net outflow of hot money funds was 321,600 yuan, accounting for 2.84% of the total transaction volume; the net outflow of retail funds was 686,900 yuan, accounting for 6.06% of the total transaction volume.
Summary of company announcements
*ST Huke’s Risk Warning Announcement on Stock Trading
Shanghai Broadband Technology Co., Ltd.'s stocks have been subject to delisting risk warnings and other risk warnings. The company will be subject to a delisting risk warning from April 30, 2025. If the audited net profit in 2025, whichever is lower, is negative and the revenue is less than 300 million yuan, the stock will be terminated from listing. The annual audit accountant has not been able to confirm that the company's non-net profit deduction is positive, and the commercial substance of the flower business still needs to be verified. The company has been put on file by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations, and may face administrative penalties. It has not yet accrued estimated liabilities, and any additional provision may result in negative net profits. 89.9% of the prepaid payment for Hong Kong Petrochemical has been provided for bad debts, and there is a risk of further impairment in the future. The problem of capital occupation by the original controlling shareholder has not yet been resolved, and there are still other risk warning situations in the stock.
The above content is compiled by Securities Star based on public information and generated by an AI algorithm (Network Information No. 310104345710301240019) and does not constitute investment advice.
Wealth in the currency world always comes and goes quickly. After months of rapid growth, virtual currencies have collapsed across the board in recent days, and the price of Bitcoin has also been on a roller coaster. It once fell to around US$30,000, then returned to US$40,000, and plunged again on the evening of May 21.
At the same time, a number of virtual currency exchanges were once again revealed to be unable to conduct trading operations. 590,000 investors were forced to liquidate their positions, and 44.2 billion yuan was wiped out in one day. In this darkest moment of "massacre", the risks brought about by leveraged funds participating in currency speculation are fully exposed. Under the huge market fluctuations, long positions suffered heavy losses, and short positions also suffered liquidation.
The dream of wealth of novice speculators has been shattered, and there are many people crying, defending their rights, and claiming compensation. Various rights protection groups that "huddle together for warmth" are extremely active. After all, in the currency circle, traders have a hundred ways to harvest "leeks". Bankers manipulate currency prices, server downtime restricts trading... Investors will fall into this pit or that pit.
Senior speculators are more calm in comparison. They have become accustomed to sudden rises and falls. They have brushed against the "god of death" time and time again, playing with heartbeats and competing with speed. They enjoy escaping from the trader's hundreds of "deaths", enjoying dancing on the tightrope, and enjoying dodging the bullet in Russian roulette. In the end, they did not forget to sigh, "This is more addictive than drugs."
If you are still shocked by the liquidation, it only means that you have not seen the essence of virtual currency clearly.
"I have lingering fears." The big V of virtual currency Weibo said while reviewing the trading. On the night of the 19th, many virtual currency exchanges collectively "unplugged the network cable", and 44.2 billion yuan evaporated in 24 hours.
Unplugging the network cable is the currency circle’s nickname for the “ghost-like” operation of virtual currency exchanges that prevents buying and selling. In the eyes of traders in the currency circle, a “dog village” is always a “dog village”, and leeks cannot beat the dealer.
"I actually lost 1 million US dollars. Binance only made a little profit by copying the bottom, otherwise I would have recovered my capital by now." Big V said with fear but a trace of regret. He had done a good job in risk control and expected the liquidation market, but he didn't expect it to come so fast. It came on the night of the 19th, and the momentum was beyond imagination.
"Fortunately, I didn't increase my position when it fell, otherwise I would have been knocked down by the contract at 28,000~30,000. Huobi lost 12 million yuan and was left with only 5.5 million yuan. If we stop losing money, we might lose nothing." In his view, saving 5.5 million yuan is already a great blessing in misfortune.
On the 19th, the virtual currency market plummeted, and bulls liquidated their positions, causing a further selling stampede, and the futures contract market was bleeding. According to Coin data, about 590,000 people liquidated their positions within 24 hours, with the liquidation amount reaching 44.2 billion yuan. The largest liquidation order occurred in Huobi-BTC worth 430 million yuan.
Liquidations often happen in the secondary market of the currency circle. This kind of thing has become commonplace. If you are still shocked by this kind of thing, it only means that you have not seen the nature of virtual currency exchanges or bookmakers clearly. Those videos circulating on the Internet of people crying because of liquidation may have existed a long time ago.
Investor Xiao Li said this. Although liquidations happen from time to time, Xiao Li has also tasted the benefits of being in the currency circle. On the first day he entered the currency circle, he successfully raised US$100 to US$978 through short selling. His one-night return was close to the sum of his returns in the stock market in the six years from 2015 to 2020.
"No wonder the currency circle is so attractive to young people. The trading volume in one day is more than that of a stock account in several years. At the same time, you can experience 10 to 100 times leverage and liquidate your position in one minute." Xiao Li said that under the premise of ten times leverage, if the market is unfavorable, it will liquidate as long as it rises or falls by 10%. For retail investors chasing Bitcoin with 50 to 100 times capital leverage, as long as Bitcoin adjusts slightly by 1% to 2% during the rise, the liquidation will be triggered.
The reporter learned that leverage trading is actually a gambling behavior that magnifies the principal several times and makes large investments with small funds. If investors are bullish on a certain currency, they can borrow money from a virtual currency exchange (referring to currencies such as USDT that are considered stable currencies) by the amount of funds in hand * leverage multiple, and buy the bullish currency. Regardless of whether the currency rises or falls later, the borrowed money must be returned to the exchange. Before borrowing money, investors need to pay a certain margin on the exchange to prevent investors from losing money and having no money to repay the debt.
If an investor is bearish on a certain currency, he or she can borrow the currency from a virtual currency exchange based on the amount of capital*leverage and then sell it. Regardless of whether the borrowed currency will rise or fall in the future, investors must inject a margin before borrowing the currency to avoid running out of money to repay the debt.
It is understood that different exchanges and different currencies have different leverage ratios that investors can achieve, and the "interest" stipulated in lending is also different. In addition, investors can choose cross-margin or isolated-margin trading. Cross-margin trading means that investors can conduct leveraged trading in multiple currencies in one account. If one currency is liquidated, other currencies will also be liquidated. Isolated-margin trading means that investors divide their funds into several parts for leverage trading, and liquidation does not affect each other. At the same time, different virtual currency exchanges also have different margin requirements.
Taking Huobi Exchange as an example, cross-margin traders can operate BTC/USDT with 3x leverage, and ETH/USDT can also operate with 3x leverage; isolated traders can operate with 5x leverage.
"Although most of the people who liquidated their positions were bullish, some people bought 10 times small leverage short contracts on Binance and their positions were liquidated." Xiao Li lamented that in the sharp rise and fall of the market, no matter whether you are long or short, there is a risk of liquidation.
"Yesterday (19th), when many currencies fell by more than 20%, low leverage still could not escape the fate of being affected." As a senior Leek, Xiao Li has a deep understanding of this. He told the reporter of "Daily Economic News" that judging from the exchanges, many speculators around him suffered heavy losses. In terms of contracts, during this round of market collapse, many coins' positions with 2x leverage were also liquidated. Some speculators’ DeFi loans have also been liquidated, but these cannot be fully counted.
DeFi is a decentralized application automatically executed by smart contracts. Maker, Compound, and Aave rank among the top DeFi lending platforms, and their main businesses are mortgage loans. In order to prevent risks, DeFi lending platforms will set mortgage rates and liquidation thresholds.
For example: on Compound and Aave, the maximum mortgage rate of ETH is 75%. That is, if you mortgage ETH worth $100 on Compound or Aave, you can lend up to $75 worth of other virtual currency assets; once the liquidation threshold is reached, the system will sell the mortgaged assets to repay the debt.
This is similar to going to a bank for a loan in real life. Xiao Li told reporters that if you cannot repay the bank loan, the bank will auction your collateral, such as houses and cars, and use the auction money to repay your debt. The same goes for DeFi lending platforms. If you cannot repay, the platform will sell your mortgaged virtual currency assets to repay the debt.
The above-mentioned market participants pointed out that the price of virtual currency assets fluctuates violently, and many people simply do not have time to increase asset mortgages to continue "gaming", and the only result they face is to be liquidated.
The futures market is bleak, but what about the spot market? During this round of virtual currency slump, investor Zhang Ning (pseudonym), who claimed that he did not play with contracts, said that he lost hundreds of thousands of dollars in spot money. Although he was eliminated from the game, compared to investors who often lost millions of dollars, he can really be regarded as a survivor in this round of "massacre".
The sharp drop did not make Zhang Ning feel anxious about fighting in the currency circle. On the contrary, in his opinion, Bitcoin is currently in a bull market. He laughed and said that it is not surprising for "leeks" to chase the rise and fall and be harvested by institutions. Looking at the market rationally, this wave of short-selling and profit-making does indeed exist.
But compared to the stock market, Zhang Ning still advises "newbies" to avoid entering the currency circle. There are hundreds of "ways to die" in it, which are more addictive than drugs.
As we all know, drugs are addictive because of dopamine. The excitement that the currency circle enjoys from skyrocketing rises and falls is not due to this substance. In fact, for speculators who are wandering between "instant wealth" and "instant loss" in the currency circle, currency speculation is more like a kind of gambling, and dopamine, a neurotransmitter, is the key to making people "obsessed" and addicted.
When gambling and gambling-like investment activities, the human brain will secrete a large amount of dopamine. It is these neural substances that make gamblers such as speculators very fascinated by the process of winning and losing, and also make the excitement and pleasure at that time soar.
According to big data surveys, ordinary jokes can cause dopamine secretion by 30%, delicious food can reach 70%, and smoking methamphetamine can instantly increase dopamine secretion by more than 500%, up to 1000%. Gambling and gambling-like investment activities can easily exceed 500% and 1000%. It can be seen that gambling is no less addictive and exciting than taking drugs.
After this round of slump, many people in the industry reminded ordinary consumers to pay attention to risk avoidance and avoid eventual financial losses due to luck.
Han Haiting, a researcher at the Electronic Market Center of the University of Copenhagen, publicly stated that as a type of immature asset, it is normal for virtual currencies to fluctuate in price; in particular, virtual currencies are not anchored by actual value, and their price fluctuations are entirely determined by the speculation of market speculators and investor confidence. It is easy to understand the malicious operations of large Vs in the current market, the heightened risks of regulatory policies, and the sudden rise and fall in prices.
However, in Han Haiting’s view, in the face of strong supervision, the short-term popularity may decline, but when a new speculative tool is not produced, the virtual currency market will create new false prosperity again and again.
Claiming to be guaranteed to make money without losing money, ICO projects took advantage of the plummeting to attract people
While the secondary market is experiencing liquidation and countless investors have lost all their money, project developers in the primary market are having a carnival.
"Participating in the primary market to purchase new coins is the best way out now." Xiao Wang, a virtual currency project manager, enthusiastically described his envisioned project blueprint to a reporter who was an investor. According to his explanation, the project in his hands has great potential for development. The offline market is blooming across the country, and major teams are grabbing stalls.
"The entire market is falling, and there are fewer people buying the bottom. Are you feeling panicked? Just come to me. The most stable way is to participate in new currency subscriptions in the primary market." If it weren't for the screen, Xiao Wang was so sincere that he would even want to shake hands with investors.
It was also an accident for Xiao Wang to enter the virtual currency market. When he was a stock speculator, his path "went astray" under the leadership of a stock recommendation teacher, and the stock trading group turned into a currency speculating group. After Xiao Wang, who was just starting out, was defrauded of hundreds of thousands, he decided to study the virtual currency industry in depth after "learning from the painful experience".
"I was playing leveraged contracts at that time, and my teacher taught me very seriously. Spot trading, leveraged contracts, and hedging transactions were all leftover from my playing. People who have experienced them tell you not to touch them. Only by coming to the primary market can you make money."
"Teacher" Xiao Wang gave reporters six major investment strategies: don't play with contracts; hold the leading currency in the sector for the long term; dare to buy early high-quality projects; do not operate frequently; do not invest money that affects your life; keep the principal and let profits run.
According to Xiao Wang, if you want to subscribe for new coins for his project, you need to obtain membership first, and he introduced the reporter to the method of becoming a member.
The reporter noticed that the ultimate goal of this method is for the project party to exchange the virtual currency with no consensus in the hands of investors for the virtual currency with consensus in the hands of investors.
Take Xiao Wang’s project as an example:
Investors need to transfer a certain amount of USDT (a currency called "stable currency" in virtual currencies) at one time to become a member and obtain new coins. After the transfer, if the total subscription amount exceeds 12 million USDT, new coins will be given as a unit of "total USDT/16 million"; if the total subscription amount is less than 12 million USDT, new coins will be given as a unit of "0.75 USDT". That is to say, it is based on a certain amount. If the amount is lower than the amount, new coins will be given in units of "0.75USDT". If the amount is higher than the amount, the more you subscribe, the more you will get.
Xiao Wang told reporters that there are currently close to 900 people participating in this project, and the total subscription volume exceeds 4 million USDT.
So, is the primary market really as beautiful as Xiao Wang described? The reporter’s investigation revealed that virtual currency ICO projects have long been banned in China. Many projects ran away after making a lot of money, and their existence was very short. The project team achieved the purpose of promoting and attracting traffic by designing high-end white papers and finding celebrity platforms that did not exist.
When investors exchange their consensus-based virtual coins for these non-consensus virtual coins, the price trend of new coins will first rise slightly, then decline sharply and plummet. At this time, the new coins in the hands of investors will become "zero coins."
How does virtual currency trading bypass foreign exchange regulations? Replace USD with USDT
A senior person from a virtual currency exchange told reporters that among virtual currencies, the main players in the virtual currency industry are those born in the 1990s or even the post-2000s generation. They are young, and some are already worth over 100 million yuan, but most of them are still unwilling to be abused and cheated. They are still unwilling to become cannon fodder and continue to fight.
Generally speaking, people who enter the currency circle are attracted by the wealth-making myths that flood the Internet. Brother Zheng is one of them. He came into contact with Bitcoin in 2014. He had always wanted to find a part-time job. He heard that mining can make money, so he came into contact with Bitcoin through mining.
After 2017, Bitcoin’s rise by dozens of times has inspired more people’s imagination, and many highly educated people are also ready to take action. In the eyes of "April Facebook", Bitcoin was just a legend before. What really stimulated me was when I learned that Fa Xiao, a top student who graduated from the computer department of 985 School, had a monthly salary of tens of thousands, and all the money he left for takeout was bought in Bitcoin and Ethereum. Under the influence of the "inspirational brother" around him, he "was not willing to lag behind" and also ran to join the game.
Even the “big guys” in people’s eyes simply jumped onto the ship of the currency circle. A Hong Kong person who is engaged in global shipping has been involved in the currency circle for several years when the reporter contacted him again. He no longer misses the past because he came into contact with the blockchain.
After entering the currency circle, most people think that this is a world completely different from daily society. A senior person from the above-mentioned virtual currency exchange told the reporter of "Daily Economic News": In the past ten years, the currency circle has blinked in the blink of an eye.
Many people's lives changed from the moment they downloaded the virtual currency exchange APP. Apps such as Huobi, Binance, OKEx, etc., after downloading, fill in the information step by step according to the requirements, real name but not necessarily directly tied to the bank card. Similar to shopping platforms, you can choose Alipay or QQ Music.
The problem is that virtual currencies are all denominated in US dollars. Can they be traded in US dollars? Contrary to common belief, to enter a virtual currency exchange for trading, you do not exchange for US dollars, but for a token called USDT, which means that it can replace the US dollar as the international currency in the exchange. You can use USDT to buy various virtual currencies, or you can sell virtual currencies to get USDT, which can then be converted into any kind of legal currency.
Why go to all the trouble? The core is that this way, traders can avoid regulatory controls for exchanging U.S. dollars.
Industry insiders told reporters that the currency circle has completely established an independent ecosystem.
In this ecosystem, USDT plays an important role. So what is USDT? USDT, also called Tether, is in principle exchangeable with the U.S. dollar on a 1:1 basis. Tether has gained wide recognition in the virtual currency market and is therefore able to circulate. In the eyes of virtual currency traders, it is a stable currency against the US dollar.
Domestic lawyers have analyzed that exchanging legal tender for U.S. dollars will be subject to foreign exchange supervision, but exchanging USDT will not constitute the crime of illegal foreign exchange trading.
When doing virtual currency transactions, the first key step after entering the exchange is to exchange USDT. At this point, it is not considered a virtual currency investment, it is just an exchange for general currency for investment.
Only when you use USDT to buy virtual currencies such as Bitcoin and Dogecoin can you officially enter the investment transaction stage. The subsequent transactions are somewhat similar in mechanism to stock transactions.
For Bitcoins, you don’t just have to buy them one by one. The starting quantity can be 0.001, and some exchanges even split them into smaller pieces.
According to the above logic, after selling virtual currencies such as Bitcoin, you will also get USDT, which can be exchanged for legal currency to withdraw cash.
Virtual currency trading, in terms of methods, can be either spot trading or futures contract trading. The latter is leveraged trading, but there is a risk of forced liquidation, that is, the margin is forced to be withdrawn by the system, so the risk of capital loss is greater. This is where many traders have learned a bloody lesson.
It is difficult to monetize virtual currency transactions under the high pressure of the card-breaking operation
A senior person in the currency circle told reporters that the current "coin withdrawal" (that is, the sale of virtual currency into legal currency) of major exchanges is mainly realized through the C2C method, that is, the currency buyer directly transfers money to the currency seller's receiving bank account. Once there is a problem with the buyer's source of funds, such as suspected fraud, money laundering, etc., the seller's receiving bank account will be frozen. Once this happens, the exchange will not bear any responsibility, and all risks need to be borne by the participants.
According to the above-mentioned senior people in the currency circle, this has truly become a "faith recharge" game. Once you spend money to buy virtual currency and participate in currency speculation, it is actually difficult to convert it into legal currency unless you lose all your money.
Many people in the currency circle interviewed believe that the high pressure of the "Card Disconnection Operation" combined with the risk warnings of the three major associations may become the "last straw" that crushes this Bitcoin bull market.
"Whether it is a small exchange or a large exchange, there is a risk of running away." Some investors told reporters that when buying and selling in the secondary market, they have heard of accounts being restricted, accounts frozen, and assets missing.
In December 2020, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Public Security, the Ministry of Industry and Information Technology, and the People's Bank of China jointly issued the "Notice on Strictly Cracking Down, Punishing, and Controlling the Illegal Trading of Phone Cards and Bank Cards in accordance with the Law" to "zero tolerance" "Strictly crack down on illegal and criminal activities of illegal buying and selling of "two cards", further strengthen industry supervision, punish criminals involved in "two cards" nationwide, further promote the "cut off cards" operation, and make every effort to cut off the black and gray industrial chain of illegal buying and selling of "two cards".
On May 18, in order to further implement the "Notice on Preventing Bitcoin Risks" and "Announcement on Preventing Financing Risks of Token Issuance" issued by the central bank and other departments, and prevent the risk of speculation in virtual currency transactions, the China Internet Finance Association, China Banking Association, and China Payment and Clearing Association jointly He issued an announcement on relevant matters: Financial institutions, payment institutions and other member units shall not use virtual currency to price products and services, shall not underwrite insurance business related to virtual currency or include virtual currency in the scope of insurance liability, and shall not directly or indirectly provide customers with other services related to virtual currency.
In addition to difficulty in cashing out, currency speculators often face exchange "downtime". That is to say, once the price of virtual currency rises and falls sharply, due to the surge in the number of people participating in transactions, the servers of major exchanges cannot operate normally, and currency speculators will not be able to log in to their accounts to operate transactions. Among the people speculating on virtual currencies, there are many who use leveraged trading contracts. Once they encounter a big market situation and the exchange goes down, they often have no time to close their positions and replenish their margins, and many people lose all their money.
The reporter noticed that on May 19, a number of virtual currency exchanges went down, causing investors to liquidate their positions. This phenomenon has actually happened frequently in the past. Although virtual currency exchanges often explain it with "surge in user and visit volume", "technical failure", "system delay", etc., the market is still full of voices of malicious liquidation of virtual currency exchanges and bookmakers taking all.
On the day of the big market on the 19th that just passed, Coinbase, the largest digital virtual currency exchange in the United States, experienced an outage. In response, Coinbase said in a statement: "We have discovered some issues with Coinbase and Coinbase Pro, and some features may not be fully functional. We are currently investigating these issues and will provide an update as soon as possible."
Some users expressed their frustration on social networks regarding the downtime of the Coinbase website and APP, because they wanted to take the opportunity to buy when the price of digital virtual currencies was plummeting. Affected by this, Coinbase's stock price fell by about 11% in early trading on the 19th, and still recorded a drop of 5.94% as of the close.
In addition to Coinbase, another virtual currency trading platform, Binance, also announced on the morning of the 19th that it would suspend the withdrawal of some virtual currencies. Its announcement stated that it has suspended the trading of all leveraged tokens except BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and BNBDOWN, and suspended the subscription and redemption functions of all leveraged tokens.
Su Xiaorui, a senior commentator on financial technology, said in an interview with reporters that in the current virtual currency trading model, virtual currency exchanges established overseas bypass supervision through the C2C model. Banks and payment institutions inadvertently provide payment channels, making it difficult to identify the true source and flow of funds in personal accounts. After the supervision further subdivided the prohibited items, the platform was put forward with higher control requirements. Various illegal activities that have emerged based on the hot market of virtual currencies will also have no way to hide.
"In the currency circle, I have a hundred ways to harvest you."
"A day in the currency world is a year in the world" is a very popular saying, which describes that the funds in the currency world can be doubled several times in one day, and all the funds can be reduced to nothing in one day, and you can experience "the world and the earth" back and forth in a short period of time.
As for the extent of the risk, this can be seen from the "Three members of a family jumping off the Xinghai Bay Bridge" incident that shocked the country in June 2020. The parties involved had lost more than 20 million yuan by the beginning of June that year precisely because they used leveraged funds to participate in the hype. The wealth they had accumulated over many years of hard work quickly disappeared into thin air.
A trader wrote a record of Bitcoin’s pitfalls, which mentioned: “I just want to remind all my friends that Bitcoin is a thing where a few people make money and the majority of people run with it. Your illusion of wealth is blinded by the beautiful rising curve.”
The more naked reality is that in this area that is not protected by supervision, chaos abounds, and phenomena such as "cutting leeks" by dealers appear from time to time, and new entrants are targets waiting to be harvested in the eyes of traders.
As people in the industry say, "In the currency circle, I have a hundred ways to harvest you." Pulling the market and smashing the market are common trading techniques.
"Puyin Coin" once harvested a large number of ambitious "leeks" alive. The "Puyin Coin" was actually operated by Puyin Company using investors' investment funds, which once raised the price of the Puyin Coin from 0.5 yuan to 10 yuan that year. In order to attract more investors, the company promised at the press conference to split the common silver coins held by investors twice (one into ten), expanding the common silver coins held by investors 100 times, and claimed to add 10 billion yuan of Tibetan tea as support. In fact, only more than 50 million yuan of investment funds were used to replenish Tibetan tea.
When a large number of investors entered the market, the company maliciously manipulated the price trend of common silver coins and continuously cashed out, resulting in the common silver coins in the hands of investors becoming worthless and causing heavy losses.
Harvesting techniques do not end at the trading level. There are also many scammers who directly start pyramid schemes under the banners of "blockchain" and "virtual currency". In June 2019, the Plustoken wallet, known as the “No. 1 Fund Market in the Currency Circle”, was unable to withdraw coins, and the official website in China was closed. Initially, users could exchange and trade virtual currencies such as Bitcoin, Ethereum, Litecoin, and Dogecoin through exchanges.
In April 2021, CCTV Financial Channel reported under the title "Exposed: 40 Billion 'Coin Circle Scam'", saying that Plus Token, a virtual currency wallet, has swept more than 100 countries and regions around the world in just over a year, with more than 2 million participants and more than 3,000 levels of pyramid schemes.
Using USDT to bypass foreign exchange regulation, competition in the primary and secondary markets to attract customers, and bankers in the industry "knowingly"... Industry insiders told reporters that the currency circle follows the law of the jungle, because this system is outside the scope of national supervision.
Fortunately, regulators are aware of such risks and have taken relevant actions. On May 21, the Financial Stability and Development Committee of the State Council (hereinafter referred to as the "Financial Committee") held its 51st meeting to study and deploy key tasks in the financial field for the next stage. The meeting called for resolute prevention and control of financial risks. Adhere to bottom-line thinking, strengthen all-round scanning and early warning of financial risks, promote the reform of small and medium-sized financial institutions and reduce risks, focus on reducing credit risks, strengthen the supervision of financial activities of platform companies, crack down on Bitcoin mining and trading activities, and resolutely prevent the transmission of individual risks to the social sector.
In addition, today, the Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government also released the "Legislative Proposal on Strengthening Regulation of Combating Money Laundering and Counter-Terrorist Financing in Hong Kong", which proposes to refer to similar empowering provisions in the Securities and Futures Ordinance to give the Securities and Futures Commission the power to intervene and restrict or prohibit the operations of licensed virtual asset service providers and their associated entities when necessary. It is also recommended that any person who conducts regulated virtual asset activities without a license shall commit a criminal offense and be liable to a fine of NT$5 million and seven years' imprisonment upon conviction under public prosecution procedures.
Under strong supervision, on the evening of May 21, virtual currencies once again plunged, with BTC, ETH, BNB, DOGE and other currencies all falling by more than 10% in 24 hours.
Reporter’s Notes: When will the false prosperity of virtual currencies be exposed?
Since the birth of Bitcoin in 2008, virtual currencies represented by Bitcoin have begun to appear frequently in the public eye. After more than ten years of development, virtual currency has gradually established its own ecosystem. However, the virtual currency ecosystem is not healthy, it is abnormal and unfair. Whether it is bookmakers, exchanges, institutional investors, retail investors, or primary and secondary markets, all participants are playing games. Each participant knows that they are playing a game with a "script". Whether it is the downtime of a virtual currency exchange, or a bookmaker secretly manipulating currency prices, or even investors buying new coins in ICO projects, all parties involved in the game are actually "well aware" of it.
Many investors even admitted that "liquidation" is a common occurrence and is expected, and exchange downtime is a common practice. If anyone is still surprised by this, it can only be said that they are too new to the industry.
Chaos, chaos, chaos! How can the virtual currency ecosystem be so messed up? Everyone feels that the development of things is under their own control, trying to win in the chaos and obtain high profits. However, each participant is still "slapped in the face" time and time again and re-enters the market again and again. When will the bubble of false prosperity in the virtual currency market burst?
According to an exclusive disclosure by Radar Online: During his lifetime, the notorious financial tycoon Jeffrey Epstein tried to recruit Paul Burrell, the former confidant of the late Princess Diana, to his staff at all costs, and planned to make him a so-called "senior butler trainer."
Among the millions of confidential Epstein case files officially released by the U.S. Department of Justice in January this year, an email that had long been sealed revealed this secret trend. Burrell, 67, was spotted by Epstein and regarded as an ideal employee because of his outstanding professionalism in a speech at an internal meeting.
Epstein dossier mentions Princess Diana's former butler
The internal document, dated March 2001, was full of praise for the senior valet, praising him as an "absolute role model" in related activities and highlighting his distinguished qualifications for serving the British royal family for 21 years. The document ends with an unquestionable recommendation to senior management: "We hereby strongly recommend that the potential for systematic training for our internal employees must be investigated and evaluated as soon as possible."
Since he began working for the British royal family in the late 1980s, Burrell has been widely hailed as the strongest "emotional rock" around Princess Diana for his unquestionable loyalty and professionalism.
Burrell himself expressed extremely strong anger and condemnation for being accidentally involved in the leak of Epstein's confidential documents. He publicly responded: "The current objective facts have fully proven that it was a mysterious person whose name was deliberately blacked out in the document who mentioned my name without authorization to senior officials of other agencies through internal emails."
“This baseless implication is simply disgusting,” he added emotionally. "Obviously, I have no interaction with this dirty circle in any way - they have never contacted me, and I have never had any verbal conversations with Epstein, let alone a private meeting. But like all ordinary people who pay attention to this matter, when I heard that these fragmented documents full of crimes were made public, I was also extremely eager to know why the names of so many key figures were deliberately blacked out by relevant departments."
Burrell further sternly denounced this practice of concealing the truth: "After such a serious and appalling transnational sexual accusation incident, some people involved in the case who have good hands and eyes are still able to receive strict institutional protection. This is simply ridiculous in terms of logic and law."
Epstein allegedly viewed Burrell as valuable asset to royal network
Multiple insider sources revealed to the media that Epstein, the 66-year-old financial tycoon who died of suspected suicide while awaiting trial in New York in 2019, had regarded Burrell as a rare "precious personal network asset" during his lifetime.
The source further delved into the motivations behind this: "In Jeffrey's calculating eyes, this senior butler is undoubtedly another extremely secret channel for him to further penetrate and gain access to the inner circle of the British royal family."
Epstein was also well aware of Burrell's unique social value. He knew that the butler could not only add a touch of nobility to the many extravagant parties he held with his elegant British style, but was also a key figure in possession of many core secrets of the royal family.
"He was deliberately trying to get Burrell to join his core team, but thankfully, Paul was not eventually recruited and swallowed up by this dark network."
It is known that Epstein had a close relationship for several years with Andrew Windsor, 66, who was involved in many scandals. Just last year, in view of Andrew’s scandalous secret relationship with his abuser, the 77-year-old King Charles III of England took decisive action and ruthlessly stripped him of all his distinguished royal titles.
Windsor is currently being arrested by the police on suspicion of serious public misconduct and is currently on bail "during the investigation." There have been multiple serious accusations that he allegedly illegally leaked extremely sensitive state secrets to his close friend Epstein while serving as the UK's special representative for international trade.
Former royal bodyguard calls Andrew Windsor 'arrogant'
In addition to Epstein's shadow, Andrew's reputation within the royal family has already hit rock bottom. Princess Diana's most trusted former bodyguard recently publicly attacked the former Duke of York, mercilessly denouncing him as "one of the most arrogant and arrogant people on the entire planet."
Ken Wolfe, who served as a senior inspector of Scotland Yard and received extremely rigorous military training from the British Special Air Service Regiment, was responsible for protecting Princess Diana from 1988 to 1993. Recently, he unreservedly made the above-mentioned extremely damaging negative remarks on a popular podcast.
Wolff maintained an extremely close working relationship with Princess Diana until the eve of her tragic death in 1997. He admitted that during his long years of dedicated service to the British royal family, he had numerous opportunities to have close contact with the 66-year-old Andrew Windsor (the then Duke of York), and he had an extremely strong negative impression of him when they first met.
The blunt remarks come as Windsor is mired in a legal turmoil over alleged misconduct in public office. Although he has not yet been formally charged with a crime, he has previously firmly denied any form of wrongdoing.
Wolf said frankly that all his experiences with this royal family member who has now completely lost power have made him feel a deep sense of disgust from the bottom of his heart.
He said very frankly in the program: "I have had many unavoidable work negotiations with him in my extremely professional security capacity. The results are deeply regrettable. I desperately found that he is definitely one of the most arrogant and defiant people I have ever encountered in my life."
Royal scandal continues to engulf the monarchy
Wolf also explained to the audience why he chose to break his silence at this time. He admitted that in the past few months, he had tried his best to avoid speaking publicly about the controversies surrounding the Windsor family, but the situation continued to deteriorate like a snowball, making it impossible to remain silent.
He pointed out profoundly: "Since the shock wave of Epstein's bombshell swept the British royal family, I have always maintained an extremely sober personal position on this matter; the serial scandals involved in the Duke of York and the entire Mountbatten-Windsor family behind him have a very devastating poison, and this poison is still spreading everywhere today and is far from dissipating."
The experienced former bodyguard added that the ongoing scandal between Windsor and Epstein has not only dominated the front pages of major media all year round, but has also triggered a serious crisis of public trust in the royal family's crisis public relations and incident handling mechanisms on a global scale.
"For the past six months, the outside world has been exposed to lengthy reports almost every day about the secret relationship between the Duke of York, the Windsor family and Epstein. Now even his ex-wife Sarah Ferguson has been implicated in this fire."
As the outside world knows, Windsor was arrested on February 19th - which happened to be his 66th birthday - on suspicion of serious disciplinary violations. The core accusation points directly to his alleged illegal transfer of core confidential information to Epstein during his sensitive period as Britain's special representative for international trade.
Currently, various investigators are working intensively to verify the details of the relevant accusations, especially trying to find out whether these shady exchanges of information and benefits accurately occurred during the critical period when Epstein was trying to wildly build personal influence and a huge network of contacts among the world's top powerful circles. Although the Duke of Windsor has strenuously denied any form of wrongdoing throughout and has not yet faced formal legal charges, his reputation has been tarnished.
Wolf pointedly pointed out that this seemingly endless ongoing controversy has cast an extremely thick shadow on the entire British royal family, which is particularly detrimental to the current King Charles. The elderly monarch not only has to deal with the catastrophic chain reaction caused by his brother's never-ending legal disputes, but also has to push forward the difficult structural reform of the royal family's modernization. At the same time, he also has to fight against his own cancer disease that ordinary people cannot imagine.
He explained sympathetically: "The king himself is currently going through the most difficult and darkest moment in his long life. He must do his best to make up for the big mistake caused by his younger brother; and in his original grand plan, Prince William and Prince Harry - especially the charismatic Harry - should have become the absolute core force supporting the grand plan of the future royal family."
Wolf finally added regretfully that the decisive absence of Prince Harry, 41, has made the entire monarchy restructuring plan extremely complicated. This rebellious royal member, who in 2020 made a high-profile announcement with his 44-year-old wife Meghan Markle to withdraw from the royal family's core official duties and settle in the United States, was originally the most critical strategic piece in Charles's hands when he intended to restructure the future monarchy.
"This is undoubtedly a huge historical regret. Charles has permanently lost Harry, a key role that could have played a huge role. I always firmly believe that he was an extremely important pillar that could support the future modernization and reconstruction of the entire monarchy." Wolf issued such a profound historical sigh at the end of the interview.
Little Monster had something to do at home and went back to Hunan, so she was two days late. After editing late last night, she went to Shanghai to watch F1.
The Middle East has become a mess again. This time, the United States and Israel killed Iran's number one leader Ayatollah Ali Khamenei. The hatred was so great that even if there were pro-surrender factions in the country, they did not dare to say anything and started fighting.
This time I selected a war movie, the 2001 "Black Hawk Down" directed by Ridley Scott and starring George Hartnett and other Hollywood actors. There was no female character in the all-male cast. At that time, there were no female soldiers participating in the Mogadishu operation, and the screenwriter did not impose anything on it. At that time, political correctness was not very popular, but now it is 80% likely to be criticized.
Halfway through writing the manuscript, I felt a little regretful. It wasn’t that it was difficult to interpret, but that the faces were too difficult to recognize! ! ! ! ! ! !
There are 39 named characters in the film, and they all look the same from a distance even if they are wearing helmets. When I was writing, I had Google, Wikipedia, and IMDB open at the same time, and each face was right for each other. Moreover, it was too easy for the audience to remember their full names. I had to think over which surname and first name to use, and my mind was blown.
The 1993 battle in Mogadishu, Somalia, can be said to be a turning point in the U.S. military's foreign policy. It lasted for 15 hours and nearly a hundred casualties were suffered. The Somali militiamen suffered even more heavy casualties. However, they could not handle the large number of people and consumed the U.S. military to death. From then on, the U.S. military tried not to intervene on the ground, and the trend shifted to the war on terrorism.
The original author Mark Bowden reviewed all the text and video materials he could find, wrote more than 20 detailed reports and compiled them into a book. In addition to battlefield documentaries, it can be said that "Black Hawk Down" is the closest to real war film in film history.
War is a cruel game that is difficult to stop once it is started. No one can predict the direction in advance. War is a monster that inspires the lowest evil and good in human nature.
It is extremely difficult to coordinate so many characters. Lei Gong is really a god. Even the small roles that only show his face are flesh and blood. There are almost no people with such ability in the current film industry.
To serve:
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Israel launched air strikes on Iran, tensions in the Middle East increased, and the cryptocurrency market plummeted.
Cryptocurrency Markets Plunge
On June 13, the price of Bitcoin once fell below $103,000 per coin, with an intraday drop of more than 4%.
Other cryptocurrencies also fell, with Ethereum, Dogecoin, and Adacoin all falling by more than 10%.
CoinGlass data shows that in the past 24 hours, more than 240,000 people around the world have been liquidated, with a total liquidation amount of US$1.159 billion. The largest single liquidation order occurred on Binance - BTCUSDT worth US$201 million.
Israel launches attack on Iran
Iran announces closure of country's airspace
Israel enters state of emergency
On the 13th local time, Israel launched a new round of attacks against Iran. This round of attacks included the Iranian city of Tabriz and Kermanshah province. The head of the Crisis Management Center of Iran's East Azerbaijan Province said that three military areas in the province were attacked by Israel.
On the morning of the 13th local time, IDF spokesperson Effie Devlin issued a video statement stating that the Israeli army dispatched more than 200 fighter planes to participate in the first round of air strikes against Iran in the early morning of that day, during which more than 330 munitions were dropped, killing senior Iranian military leaders and other commanders. He also said that Iran has launched more than 100 drones towards Israel in the past few hours, and the Israeli military is currently working hard to intercept these drones. According to preliminary statistics, six Iranian nuclear scientists were killed in the attack.
On the 13th local time, an Iranian security source revealed that Iran’s Supreme Leader Ayatollah Ali Khamenei received a briefing on the situation after the attack. Khamenei said Israel would be severely punished. A spokesman for the Iranian Armed Forces said that Israel will pay a "heavy price" for its attacks on many places in Iran, including residential areas, and the Iranian Armed Forces will definitely respond.
On June 13, local time, Iran announced the closure of the country’s airspace until further notice. In addition, Israeli Defense Minister Katz said that he had declared a state of emergency in Israel due to Israel's attack on Iran.
On the 13th local time, IAEA Director General Grossi had a phone call with Israeli President Herzog. Grossi said that based on the information he has, Iran's Natanz nuclear facility has been severely damaged.
Geopolitical changes drive price trends in the short term
"Cryptocurrencies reacted negatively to the news of Israel attacking Iran, in line with major risk assets." Carolyn Moren, co-founder of crypto derivatives liquidity provider Orbit Markets, said, "We expect to see technical support around $101,000, but geopolitical news will drive price action in the short term."
"While awaiting more geopolitical news and potential responses from Iran, risk sentiment is likely to deteriorate further as traders choose to significantly reduce exposure to risk assets ahead of the weekend." IG market analyst Tony Sycamore wrote in a report.
Hunter Horsley, CEO of Bitwise, said that most of the recent selling has come from holders who bought Bitcoin at a low price a long time ago, with $100,000 being a key threshold. Once Bitcoin breaks through $130,000, another rise may face less selling pressure.
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