I am an old Huobi user, shorting, participating in activities, indeed actively participating and earning quite a bit, also actively returning complaints, the way Binance handles returns is unpleasant.

The current situation of Binance inevitably reminds people of Huobi from 2019-2021, when Huobi was Binance's biggest competitor. Initially, Huobi was crushing Binance. When Huobi was at its peak, it started to leverage its reputation to launch projects for profit (similar to Binance's current approach of launching up to 4 projects a day), and the projects launched were almost all experiencing a "high opening and low closing" harvesting trend. In contrast, Binance at that time could be described as a pure stream in the industry, with quality projects like CHZ, MATIC, SAND, AXS launched on its Launchpad generating hundreds of times returns. However, with changes in the listing team, all of this came to a halt, and now Binance is filled with questionable projects like the "familiar faces section" and "best friend section." The listing standards have clearly declined, and combined with contract leverage, it has seemingly devolved into "Huobi 2.0," ultimately leaving the pitiful retail investors to pick up the pieces.
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