My Fintech Empire

The declaration of bankruptcy by Mt.Gox caused the price of Bitcoin to plummet from $237.57 to $80.05 that day, with a drop rate of -72.15%, and the nominal market value of Bitcoin directly evaporated more than $3.3 billion.

After the sharp drop, it rebounded to the price of 117.99 US dollars, and fell to the -50.39% half-cut line on the day.

The collapse of Bitcoin was unexpected, but it was reasonable. Participants knew that Bitcoin would collapse one day. It was not an accident when it collapsed, but the only thing I didn’t expect was that I took the last stick .

On the day of the Bitcoin crash, a major event occurred in the domestic capital market that attracted the attention of the investment circle.

In the afternoon of the same day, Qunxing Capital issued an announcement, formally reaching an $8 billion private equity asset management plan with Merrill Lynch.

That's right, an additional $3 billion was added during the previous talks.

This news has aroused great attention in the circle. Merrill Lynch is one of the five largest investment banks in the world, and Qunxing Capital is a capital giant that has risen rapidly in China in recent years.

...

"When will Merrill Lynch's funds arrive?" Fang Hong looked at Tian Jiayi, who came back to report to him, and asked. During this period of time, the price of Bitcoin to 300 US dollars was driven by Fang Hong's team.

Launching this epic wave of market prices has not only failed to make a profit from Bitcoin so far, but has also generated a net book loss of 672 million US dollars. Judging from the current book losses, this wave of sitting on the bank has not only failed to make money but also lost money. Went to grandma's house.

But this is only the first step, let Mt. Gox go bankrupt first, and this goal has been achieved now.

It's just started now, and Fang Hong never thought about selling the goods to those players in the currency circle. How many steel coins are they? Where can I catch it?

As for who to sell the goods to?

Still need to ask?

Of course it's Merrill Lynch. Didn't it already bring 8 billion US dollars to give away...

If you don't cut the leeks delivered to your door, you're really sorry for their kindness.

Fang Hong didn't believe that the other party came to cooperate with you at all, and wanted to use 8 billion US dollars as bait to fish out Qunxing Capital, so that it would be fattened up and then a precise directional blast?

At this time, Tian Jiayi replied: "In the next month, Merrill Lynch's funds will be fully credited."

Fang Hong nodded: "Well, the time is about the same. In addition, Merrill Lynch's funds must be separated from our own funds. At the same time, Qunxing Capital will send people to acquire the Mt. Gox trading platform. After Merrill Lynch's funds are in place, let Merrill Lynch Lin’s money will be invested in the platform.”

Right now, the management team of Mt.Gox has chosen to declare bankruptcy and lie flat. The 750,000 bitcoins lost by users must have been lost.

For players in the currency circle, this is obviously bad news.

At this time, Qunxing Capital turned into a "white knight" to clean up the mess, restructure the Mt.Gox trading platform, and restore the encrypted digital currency market. All players in the currency circle have to be grateful, and Merrill Lynch has also been pulled down for endorsement.

The subsequent strategy is simple, launch a more violent market again, and then start to ship, not only can the current book net loss be filled, but also make a fortune, and the most important purpose is to make Merrill Lynch Funds are tied to the top of the mountain.

Then smash the price of Bitcoin into the basement.

When Merrill Lynch's money is completely locked up, it will inevitably be extremely furious, but will it cut off its flesh?

Certainly not!

Because cutting flesh is meaningless, what else can Merrill Lynch do if he wants to get rid of it? Of course, the encrypted digital currency is blowing up, even if you don’t believe it in your heart, you have to be forced to blow it up, saying that this thing has a bright future.

"If you cut Wall Street's leeks like this, it will become a big problem. It's best not to go abroad in the future." Tian Jiayi couldn't help saying, no wonder this guy wants to hide behind the scenes and control everything.

Hua Yu carried everything down...

Fang Hong smiled and said: "They are only allowed to cut other people's leeks and I am not allowed to cut his leeks? If you have to come up and give it away, the kindness is hard to refuse."

Those people on Wall Street were always holding back their bad intentions and didn't have a good idea. As a time traveler, they knew how ugly those people's food was.

...

At the same time, after the price of Bitcoin collapsed, the Mt.Gox trading platform declared bankruptcy, and more negative news followed. On the same day, it was reported that the main reason for the hacking incident was the Mt.Gox trading platform. Management confusion and technical loopholes.

In particular, there are major loopholes in the Mt.Gox trading system. Hackers can attack the trading system and transfer the stolen bitcoins to their own accounts, but these loopholes have not been fixed in time.

In addition, Mt. Gox's management team has also been accused of lacking professionalism and effective management of the company's funds.

As the incident went out of the circle, it also triggered more discussions. Some people in the investment circle commented that the Mt. Gox incident was not just a technical loophole and management issue, but also involved the supervision of the encrypted digital currency market.

There are almost no regulatory agencies and regulations in the current Bitcoin market, making it difficult to effectively protect the rights and interests of exchanges and investors.

This is true.

The Mt.Gox hacking incident must have had a profound impact on the entire cryptocurrency market. After this incident, investors will definitely re-examine the security and reliability of cryptocurrency.

But on the other hand, it will definitely accelerate the market and development of cryptocurrency technology. These are also within Fang Hong’s estimation. He has accelerated the push behind the scenes. This is a forward-looking layout that takes one step and sees ten steps.

Through this incident, especially when Merrill Lynch was killed later, one of the world's five largest investment banks was dragged into the water, and forced to stand for cryptocurrency in order to understand the scam, it will inevitably promote people's further understanding of Bitcoin and other encryption in the future. The potential of currency in the financial field will further promote people's in-depth discussions on blockchain technology and digital currency.

This is a high emotional intelligence statement.

Those with low emotional intelligence are speeding up the cutting of leeks.

When the story is told, the bullshit is over.

But right now, the Mt.Gox incident has dealt a serious blow to the confidence in the Bitcoin market. Mt.Gox is currently the largest Bitcoin exchange in the world, and its bankruptcy has made participants question the security and reliability of Bitcoin. It also heightened panic.

After the cut in half, on the next day, July 12, the price of Bitcoin crashed again. After the cut in half, everyone went short and the price fell to $54.89. It plummeted -53.48% on the same day, in three days From a price of more than $300 to the current latest price of $54.89, this has wiped $5.1 billion off Bitcoin's nominal market value.

Fang Hong runs the Bitcoin trader team, and the bargaining chip in his hand is to further expand the denomination of the net worth loss, but this is only a floating loss rather than a real loss.

The trading team below can't understand the operation of the big BOSS. If they want to break their heads, they can't figure out how to make a profit next time. It will further expand the net loss.

Obviously, the trader team didn't know that the real taker was on the way, and they would never have thought that the big boss would cut Merrill Lynch's leeks.

...