Murphychen888
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My little partner lost 120 million...
On May 7th, a young lady came to me, saying that one of her big brothers opened a short position of 600 BTC at $88,500. I looked at the screenshot she sent me at that time, and it was already showing a floating loss of 6.44 million USD. This big brother entrusted the young lady to ask for my advice on whether there was a risk of liquidation (liquidation price $101,553), while BTC was around $97,000 at that time.
This young lady is my fan (I don’t know if the big brother is), and she has attended my class offline, so we added each other on WeChat. She repeatedly reads every tweet I post, and sometimes she sends me messages when she doesn’t understand something. She is quite a familiar partner with whom I often communicate.
Usually, I don’t give any investment advice for my partners’ inquiries. But when I saw this amount, I was still very shocked. My first reaction was to want to help her, so without much thought, I replied that I suggested raising the liquidation price to $120,000, as $101,553 was definitely not safe. Although I am not saying that BTC will definitely reach $120,000, in my understanding, looking at the current data, there is still room for speculation in the short term.
I know that suggesting compensation at this time is not rational, but at this moment, I couldn't persuade him to surrender and close the position immediately. When life and death hang in the balance, we have actually already lost the right to choose to cut off our own arm. Opening such a large position with 10x leverage against the trend is clearly beyond redemption.
The next day, the young lady sent a message saying that the big brother was liquidated, and 120 million was gone...
120 million is an amount that most people will never see in their lifetime; it disappeared overnight, which indeed made me feel extremely regretful. This is not a joke; it is a real event that happened around me.
Leverage is an incredibly sharp double-edged sword that ordinary partners cannot handle. Perhaps you often see bloggers showcasing their glorious achievements in contracts, and you must have a thousand reasons to convince yourself, "Why can others succeed while I cannot?"
But! What I want to say is, but what you see is what others want you to see! However, in reality, there are countless 'big brothers' whose abilities, strengths, and insights far exceed yours, who also face defeat and loss on the contract battlefield. And these are things you cannot see!
Please remember! In the crypto world, we are not competing over who earns more, but who survives longer...
On May 7th, a young lady came to me, saying that one of her big brothers opened a short position of 600 BTC at $88,500. I looked at the screenshot she sent me at that time, and it was already showing a floating loss of 6.44 million USD. This big brother entrusted the young lady to ask for my advice on whether there was a risk of liquidation (liquidation price $101,553), while BTC was around $97,000 at that time.
This young lady is my fan (I don’t know if the big brother is), and she has attended my class offline, so we added each other on WeChat. She repeatedly reads every tweet I post, and sometimes she sends me messages when she doesn’t understand something. She is quite a familiar partner with whom I often communicate.
Usually, I don’t give any investment advice for my partners’ inquiries. But when I saw this amount, I was still very shocked. My first reaction was to want to help her, so without much thought, I replied that I suggested raising the liquidation price to $120,000, as $101,553 was definitely not safe. Although I am not saying that BTC will definitely reach $120,000, in my understanding, looking at the current data, there is still room for speculation in the short term.
I know that suggesting compensation at this time is not rational, but at this moment, I couldn't persuade him to surrender and close the position immediately. When life and death hang in the balance, we have actually already lost the right to choose to cut off our own arm. Opening such a large position with 10x leverage against the trend is clearly beyond redemption.
The next day, the young lady sent a message saying that the big brother was liquidated, and 120 million was gone...
120 million is an amount that most people will never see in their lifetime; it disappeared overnight, which indeed made me feel extremely regretful. This is not a joke; it is a real event that happened around me.
Leverage is an incredibly sharp double-edged sword that ordinary partners cannot handle. Perhaps you often see bloggers showcasing their glorious achievements in contracts, and you must have a thousand reasons to convince yourself, "Why can others succeed while I cannot?"
But! What I want to say is, but what you see is what others want you to see! However, in reality, there are countless 'big brothers' whose abilities, strengths, and insights far exceed yours, who also face defeat and loss on the contract battlefield. And these are things you cannot see!
Please remember! In the crypto world, we are not competing over who earns more, but who survives longer...
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Interpretation of CoinDesk's '2025 Benchmark Assessment Report on Digital Asset Exchanges' - Binance
As the cryptocurrency market matures, compliance and regulation are constantly strengthening, and users are increasingly inclined to choose trading platforms with security, transparency, and market depth. According to the report released by CoinDesk in April 2025 titled 'Global Standards for Assessing Risks Related to Digital Asset Exchanges', Binance ranks at the forefront of various assessment indicators.
(Figure 1)
In this report, Binance scored 90.11 in spot trading and 90.8 in derivatives trading, receiving AA ratings in both areas and ranking first. This demonstrates that Binance leads among major trading platforms in terms of trading depth, liquidity, and technical execution.
(Figure 2)
Despite being penalized in ratings due to negative events during the assessment period, Binance ultimately maintained an AA rating. Binance (90.1) ranks first, followed by Coinbase (89.8), Bitstamp (88.4), and Kraken (84.5); this indicates that Binance has a solid compliance foundation and risk management mechanism, allowing it to withstand regulatory risks.
(Figure 3)
The level of security and information disclosure demonstrated by Binance in this assessment includes: 1. Dual security certifications of ISO and SOC; 2. Providing audited proof of reserves; 3. Supporting third-party custody and over-the-counter settlement (OES) mechanisms.
These practices highlight Binance's commitment to user fund security and platform transparency following the 'FTX crisis'.
(Figure 4)
According to the report data, Binance's spot trading volume accounts for 26.7% of the global exchange market, nearly three times that of the second place (Cryptocom, 7.2%), reflecting Binance's absolute advantages in trading liquidity, matching efficiency, and platform trust.
In the fiercely competitive centralized exchange arena, data reports based on independent assessments help investors gain a more comprehensive understanding of the relative risk levels and operational quality of platforms, providing important data references for the healthy development of the industry.
As the cryptocurrency market matures, compliance and regulation are constantly strengthening, and users are increasingly inclined to choose trading platforms with security, transparency, and market depth. According to the report released by CoinDesk in April 2025 titled 'Global Standards for Assessing Risks Related to Digital Asset Exchanges', Binance ranks at the forefront of various assessment indicators.
(Figure 1)
In this report, Binance scored 90.11 in spot trading and 90.8 in derivatives trading, receiving AA ratings in both areas and ranking first. This demonstrates that Binance leads among major trading platforms in terms of trading depth, liquidity, and technical execution.
(Figure 2)
Despite being penalized in ratings due to negative events during the assessment period, Binance ultimately maintained an AA rating. Binance (90.1) ranks first, followed by Coinbase (89.8), Bitstamp (88.4), and Kraken (84.5); this indicates that Binance has a solid compliance foundation and risk management mechanism, allowing it to withstand regulatory risks.
(Figure 3)
The level of security and information disclosure demonstrated by Binance in this assessment includes: 1. Dual security certifications of ISO and SOC; 2. Providing audited proof of reserves; 3. Supporting third-party custody and over-the-counter settlement (OES) mechanisms.
These practices highlight Binance's commitment to user fund security and platform transparency following the 'FTX crisis'.
(Figure 4)
According to the report data, Binance's spot trading volume accounts for 26.7% of the global exchange market, nearly three times that of the second place (Cryptocom, 7.2%), reflecting Binance's absolute advantages in trading liquidity, matching efficiency, and platform trust.
In the fiercely competitive centralized exchange arena, data reports based on independent assessments help investors gain a more comprehensive understanding of the relative risk levels and operational quality of platforms, providing important data references for the healthy development of the industry.
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