Yu Hong is still going crazy today. Actually, I noticed last year that his mental state was abnormal and changed his own video channel name to "Yu Hong SB". 😂
When I first met Yu Hong, he was a very modest person.
He became famous in the crypto world because of the 3 O'clock Insomniac Blockchain, pulling people like Wang Feng, Tong Liya, Gao Xiaosong, Yu Zheng, Huang Xiaoming, Li Kaifu into a group, but after they received tens of thousands of airdrop tokens, they left the group due to policy sensitivity.
Later, Yu Hong launched XMX, piled all resources into it, and the project successfully listed on Huobi, but it coincided with a bear market, and eventually almost all participants lost money.
In 2018, many people shifted from Web2 to the crypto space to make money.
It was similar to the massive influx of talent into the Internet industry around 2000.
The same script—too many people couldn't survive the winter.
Some lost confidence and left the industry forever,
so they missed out on the genuine boom as Bitcoin kept reaching new highs.
Yu Hong is just one of countless failed cases; XMX just had a louder voice at that time, resulting in the most losses.
His losing control and going berserk could be seen as a fitting end, especially since many who launched tokens around the same time as him are now serving prison sentences.
