Liangxi in the cryptocurrency world suffers a $20 million loss; what absurd reality lies behind it?
On May 22nd at 7:27 AM, under a 'needle' in the cryptocurrency world, Liangxi, who once boldly operated with a $500 million position, was pierced through the last psychological defense line.
> '1000 Bitcoins, a net loss of $5.7 million. There are accounts that lost over $30 million, and I can't even take high-speed trains or planes.'
This is Liangxi's 'collapse statement' shared on social media, but the information revealed is enough to shake the entire cryptocurrency circle.
Top female star, hundreds of millions in funds, heavily in debt
The keywords mentioned by Liangxi are astonishing:
Trading cryptocurrencies for a certain top-tier female celebrity in the country resulted in her account suffering the most losses;
A position of $500 million, leveraged with about 5000 BTC;
A partner stopped losses at 1000 BTC at the peak, directly losing $5.7 million;
Burdened with debts, restricted from high consumption, unable to even take a plane;
Trouble every week from the police and the court.
It looks like the 'Big Short' version of the cryptocurrency circle, but all of this happens in the real world.
The frenzy and liquidation of the cryptocurrency world
The reason Liangxi's account triggered huge controversy is that people in the cryptocurrency world are too familiar with this script:
1. High leverage + emotional trading, liquidation is only a matter of time;
2. Many 'real trades' are actually staged, used to attract followers and exploit retail investors;
3. Utilizing star effects and partnerships to 'set up' and cash out.
But Liangxi says: 'I genuinely lost money; the partners are big players, they won’t make trouble for me.'
If true, this represents a complete collapse of the financial trust system in the cryptocurrency world.
How should we view Liangxi's liquidation?
He resembles a bankrupt gambler who wagered everything during the most bustling time, only to face a sudden downfall. Ironically, his failure is also the easiest to attract attention, becoming a bargaining chip for his resurgence.
Conclusion:
The cryptocurrency world has never lacked geniuses, madmen, and fraudsters. What kind of person is Liangxi? Perhaps we will have to wait for the next bull market to find out.
