In a recent crypto industry dispute within three days, Sun Yuchen and Zhao Changpeng clashed, reminding practitioners not to cross boundaries for traffic.
Sun Yuchen’s speech had just concluded on stage at the
Hong Kong Asia Bitcoin Summit. Before he had even left the stage, news of the 30 million dispute over a marriage gift had already trended across the entire internet. He even took the initiative to make all the details of the dispute public, clearly indicating his intention to resolve it through legal channels—an approach that is rare even in ordinary disputes.
In the early hours of the morning two days
later, Zhao Changpeng posted just seven words on social media: “Marketing should not come at the expense of destroying others.” Immediately after posting, he unfollowed Sun Yuchen, instantly dispelling the ambiguity that had previously shrouded the dispute between the two.
Sun Yuchen quickly responded publicly, stating that all related disputes would be left to the courts to resolve. From the time the incident escalated to its temporary conclusion, no more than three days had passed.
The entanglements that have come to light over
these past three days are far more complex than a simple personal conflict between two individuals. Sun Yuchen was admitted to Peking University from Qinghai in his early years; after pursuing further studies in the U.S., he returned to China to launch a startup. Following the 2017 ban on ICOs in China and a regulatory investigation into him, he has resided overseas for an extended period,He had previously won an auction for a lunch with Warren Buffett but ultimately canceled at the last minute; after his application for a Huobi Hong Kong license was rejected, he remained in Hong Kong to establish related businesses. Today, his business operations, legal residency, and capital allocation are all concentrated overseas. He has long relied on generating controversial topics to attract attention and has long been a key case study for regulators examining the global allocation of assets.On the other hand, Changpeng Zhao has worked in the cryptocurrency industry for many years and is widely recognized within the industry for operating within established boundaries; his credibility in the sector is also evident to all.
There are no long-term shortcuts to gaining attention; the attention garnered by crossing industry boundaries is ultimately unsustainable. This controversy serves as a wake-up call for all professionals in the industry.
