76932032393 Yesterday early morning, Sun Gua announced that the fdusd issuer has gone bankrupt, causing market panic. The fdusd/usdt pair briefly dropped to $0.87, and retail investors rushed to sell their fdusd at a loss. Little did they expect that Sun Gua himself has made his tokens and exchange infamous, unable to harvest retail investors, he still managed to profit from tokens on other exchanges. Sun Gua is indeed still the same Sun Gua 🤣, impressive! 👍

fdusd is a fiat-collateralized stablecoin, and the amount issued must have corresponding fiat collateral held in a regulated bank. Even if this type of collateralized stablecoin is delisted, it must still fulfill all user fund redemptions. A similar case is the busd, which Binance previously supported. After the news of the U.S. ordering its shutdown, Binance still took two years to allow users to redeem their funds. Even now, after being delisted from the exchange, Binance continues to provide redemption functionality.

39657572884 Some have mentioned that the former stablecoin ust just fell into an unstoppable spiral of death at once. Isn't ust an algorithmic stablecoin? Can it be compared to fiat-collateralized stablecoins? So far, which algorithmic stablecoin in the crypto space hasn't ultimately ended up at zero? It's just a matter of time. Meanwhile, fiat-collateralized stablecoins like usdt and usdc have historically faced rumors of their backing companies being insolvent, leading to brief drops below their pegs, yet each time, like this fdusd, they quickly recovered within hours.

Moreover, the claim that fdusd has gone bankrupt comes from Sun Gua. Has there ever been a public statement from Sun Gua in the crypto space that wasn't a premeditated move to harvest retail investors? This time, it is clear that Sun Gua spread rumors, causing retail investors to panic and endure painful losses, leading to a brief drop in fdusd. Our Big Harvester Sun Gua seized the opportunity to buy up the bloodied fdusd from retail investors (see image 1), making at least a 10% profit in just a few minutes, while Sun Gua tearfully accepted the hard-earned money of retail investors worth thousands to billions of dollars.

Wealth is a reward for understanding. To gain wealth in this dark forest of the crypto world, one must strive to enhance their understanding; otherwise, even when opportunities to profit, like yesterday, are right in front of you, you may overlook them (see images 2 and 3). 😆

You will never earn money beyond your understanding, unless by luck. But money earned by luck is often lost back through lack of skill.