Sun Yuchen's $100 million assets frozen: A storm exposing the essence of the crypto industry Dr. Mei's Observation On September 4th, a piece of news shook the entire crypto market: Sun Yuchen was blacklisted by the World Liberty Financial project for transferring 50 million WLFI (worth $9 million), leading to over 3 billion WLFI being frozen, valued at nearly $100 million. As an observer who has been deeply involved in this industry for many years, I would like to analyze three core issues behind this storm from the perspective of first principles. 01 First principles view on the freezing incident: The essence of power exposed Event review: A storm triggered by a "test" Let's first sort out the sequence of events: The project's stance: Cleared the operational relationship with Sun Yuchen on the official website Claimed that the freeze was to prevent "whales from crashing the market" and to maintain market stability Unilaterally froze investors' assets, demonstrating absolute...
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