Suddenly realizing that the ecology of this crypto exchange is simply a real-life version of 'The Legend of Zhen Huan'. The tactics of those exchange bosses are even more thrilling than palace intrigue dramas—today, a trusted confidant is parachuted in to undermine the old officials, tomorrow the tech team and operations department will expose each other's weaknesses, and backend data falsification can create a 'substitute prince' scenario.
(New Interpretation of Power Games)
In my opinion, the ruling methods of these crypto bosses can be divided into two schools:
The first type is the 'playing dumb' type, who appears to engage in metaphysics and team-building every day, while actually dividing the team into several factions to mutually restrain each other. I know a post-90s boss who deliberately let the tech department and risk control department tear each other apart while he hides behind the scenes to watch the drama. Once, when the system was hacked, the two factions shifted blame and argued fiercely, and he promoted both directors to vice presidents—after all, if you raise dogs, you have to keep a wolf around.
The second type is the 'iron-fisted governance' type, which demands absolute obedience from the team. At the exchange I previously worked at, the boss had a calligraphy hanging in his office that said, 'Only achievements are recognized, not hardships.' Once, a marketing guy reported an extra 500 yuan in promotional expenses and was directly kicked out of the group chat. Now, that company has even made the cleaning lady sign a non-compete agreement, and they are just short of giving the air security guard one.
(Core Department Undercover Battle)
When it comes to the battlefield of power struggles, it always lies in the three critical departments of coin listing review, fund allocation, and investment decision-making. As the saying goes in our crypto circle: every exchange has two sets of books, one for shareholders and one for the retail investors.
Some bosses deliberately let their trusted aides control finance, then let old classmates take charge of technology, and finally let childhood friends handle public relations. In this three-way stalemate, anyone who dares to make small moves will immediately be reported to the boss by the other two groups. The arbitrage scandal that broke out at a certain exchange last year is, to put it bluntly, evidence of a rift between the finance and investment departments.
(Survival Rules in the Gray Area)
Corruption in the crypto world has a fatal temptation: if something goes wrong, the worst-case scenario is just to take the money and run. The most extreme case I’ve seen was a CTO at an exchange who, during the day, acted as a firewall in the tech department, and at night personally led a hacking team to exploit loopholes in his own platform. This guy was eventually caught in the act, but the boss just casually remarked: 'The young man has guts, he’s just a bit too impatient.'
Currently, among those in the industry, nine out of ten hold the mindset of 'if I don't stay here, there will be another place for me.' A post-95 operations director put it bluntly: 'Working in this industry for a year is enough to earn five years' worth in traditional industries. As long as you don't get caught red-handed, taking kickbacks is basically no big deal.'
(The Loneliness at the Peak of Power)
The most surreal thing I’ve seen is the boss of an exchange worth billions yet living like a hermit. At an industry summit, he complained while slightly intoxicated: 'The investment banks offering me the highest bids always want to drain me dry, my most loyal assistant is secretly poaching my clients, and even my dog acts like a sycophant when it sees me—what’s the meaning of this life?'
This comment stunned the old foxes present. Later, I heard that this big shot's computer password was six eights, the safe password was his birthday, and he even used his real name for WeChat transfers—this kind of 'honesty' was so foolish that it became a legendary story in the crypto circle.
(The Closing Touch)
After all, the emperor's tactics in the crypto world are not fundamentally different from haggling in a market. Those flashy power struggles are, to put it bluntly, the bosses calculating: how to use the least amount of real money to get the most people to work for them.
The above statements are all jokes, so everyone can just treat them as stories.
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