Today, two thoughts on the Gate explosion $LA incident:

1. In the current monkey market, the vast majority of small alpha opportunities are not suitable for sharing in the public domain. It has almost become a consensus to short on Binance, especially yesterday's $BDXN where there were no restrictions on short positions on Gate. Many people made tens of thousands of USDT on Gate yesterday, and I also saw many KOLs posting about this money-making opportunity on Twitter. The intention was good, but as a result, many big players directly shorted tens of thousands to hundreds of thousands of USDT today, and the outcome was disastrous. If this opportunity had remained within a small circle, and everyone just had a bit of fun, perhaps we wouldn't have seen today's problems.

2. Major exchanges can be seen as major banks. Today in the group, there was a discussion that Binance has the security and service of the four major state-owned banks, while OK is roughly at the level of China Merchants and Industrial Bank. BYBIT can be seen as Minsheng and Guangda. Then everyone should think carefully about which small exchanges meet the standards of rural banks in Henan.

Lastly, @Gateio_zh hopes to properly handle this $LA contract incident and compensate where necessary. The contract has already been delisted, and the losses should be manageable. I hope Gate can be magnanimous.