punk2898 🙌💎
punk2898 🙌💎
Settled in Singapore, high-frequency quantification
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The first live stream is at 8 PM, with just two things: sending red envelopes 🧧 & sending red envelopes 🧧
By the way, let's chat:
- How can ordinary people without funds or skills make their first bucket of gold?
- What is the best way to manage finances for most people?
- What are the mechanisms that are life bugs (life arbitrage)?
- What are the fastest and most probable ways to achieve financial freedom in the crypto world?
And more
If you're interested, follow my personal page ⬆️
If you have any questions, feel free to send them, and we can chat together tonight.
Good questions will receive a separate red envelope 🧧
See you at 8 PM ⏰
$BTC $ETH $SOL $XAUT
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I created a web version for OKX Planet 🆕
If I were to create a PC version of OKX Planet, it would prioritize solving the pain points of creators, focusing on enhancing the work efficiency and experience of heavy creators.
1. Goals 🎯
Provide a stable, fully functional web interface that makes it easy for creators to create and manage content on their computers.
2. Technical Implementation 💻
Utilize existing APIs to quickly build the web version.
Using AI tools can assist in rapid development.
3. Advantages 👍
Address the inconvenience and inefficiency of mobile operations, allowing creators to better unleash their "combat power."
4. Optimizing Creator Experience
Content Creation: Provide a more comfortable editing interface, supporting richer formatting tools and material management features, which may include:
- More convenient image and video uploading and management.
- Support for advanced formatting like code blocks and tables.
- Features like draft saving and version management.
- Community Management: Make it easier for creators to manage community members, publish announcements, and interact, such as:
1️⃣ Batch management of members.
2️⃣ A clearer notification and message center.
3️⃣ A data analysis panel to help creators understand community activity levels.
- Efficiency Improvement: Reduce the hassle of switching between mobile and computer, allowing all operations to be completed on the PC.
5. Future Outlook (Prototype Design) 📈
I plan to conduct subjective prototype designs for various functions of the planet, which may include:
- More powerful data analysis tools to help creators understand content performance and community dynamics.
- Integration with external tools (like design software and data analysis tools).
- More flexible monetization tools or incentive mechanisms.
Overall, the PC version of OKX Planet I envision will be a creator-centered platform that emphasizes efficiency and experience.
The reason I have such a deep experience using OKX Planet is that I like the tone of OKX products, but the recent iteration speed has indeed been a bit too slow.
Elon Musk is still awesome, hitting three targets with one arrow 🎯
1️⃣ Colossus 1 leased to Anthropic for one year, generating $10 billion in revenue
2️⃣ Colossus 2 quietly leased to companies like Cursor for model training, also bringing in tens of billions in revenue annually
3️⃣ SpaceX 612 goes public, and the financial statements show explosive annualized revenue and profit margins (everyone else is losing money but I'm making profits, yet people still don't buy my stock)
Awesome, really impressive, can't help but admire 👍
小互
Performance comparable to Opus, but 30 times cheaper?
Cursor releases self-developed encoding model Composer 2.5
In terms of scores: Composer 2.5 all fall within the same range as Opus 4.7, with a maximum difference of less than 1 point.
In terms of price: Opus 4.7 costs about $15 per million input tokens and $75 per million output tokens, while Composer 2.5 is 10 times cheaper for input and 30 times cheaper for output.
Cursor claims that Composer 2.5 has significant improvements over Composer 2 in intelligence and behavioral performance, especially in long-duration tasks, complex instruction adherence, and smooth collaboration.
Long tasks can continuously progress across rollouts spanning hundreds of thousands of tokens without easily going off track.
Complex instruction adherence is more reliable, communication style and engagement level calibration are more stable, and the intensity of work is better adjusted.
Nearly three years have passed, and picking up this book again brings a whole new feeling. The hardest part is knowing you're wrong, but still having to grit your teeth and persevere.
Did this book help me lose less money? Definitely yes.
But you only regret not having enough knowledge when you actually need it; true understanding comes from practice.
Many truths can only be understood by experiencing them yourself.
punk2898 🙌💎
21 Ways to Fail at Startups, Helping You Avoid Losing 1 Billion 💰
You don’t necessarily have to start a business, but this can help you steer clear of these companies
This is a book I read 8 years ago called "The Little Failures of Startups"
But even now, I still occasionally revisit it
❌ 5 Major Startup Pitfalls
📈 21 Classic Cases
🙅 10+ Industry Lessons
💬 45 Authoritative Analyses and Reviews
Don’t care about what others say about this book
Just listen to me and that’s enough 😎
I started my first startup in 2015. Since it’s a startup, I definitely needed to cram a lot of entrepreneurial knowledge. I read many books, but one had a particularly big impact on me, which is "The Little Failures of Startups."
Strictly speaking, this book isn’t really a book; it’s a collection of interviews with various star founders—of course, those who failed, learning from history.
Even now, I still flip through it from time to time to see if I’m making the same mistakes they did.
The strange thing is, you can only truly learn lessons by experiencing them yourself; just reading books isn’t enough, but at least it gives me a reference.
⚠️ Note:
💪️ They don’t expect entrepreneurs to avoid failure, but when you encounter failure, tell yourself to keep going
🎙️ Since these are interviews, the subjects might not always tell the truth, so don’t be misled by the author when reading
📖 Su Dongpo had a way of reading called the "Eight-Sided Reading Method," where you read with different purposes each time and gain different insights
--
Table of Contents (Check if it suits you):
Chapter 1: The Lament of Resource Dependents
1. Resources are both a pie and a pit
2. Losing the battle with investors
3. The abandoned giant whale
4. Thoughts on the transformation of traditional enterprises
5. The sudden death of "China’s Best Business Model"
Chapter 2: The Costly Price of Trial and Error
1. I was defeated by success
2. A 90s entrepreneur eager for quick success
3. Lessons from county-level internet startups
4. The split of "Grassroots Bull Blog"
5. The life-and-death crisis of Shengshi Hexing
6. Drinking poison to quench thirst leads only to death
Chapter 3: Unreliable Business Models
1. Fresh O2O exploration
2. The "cost black hole" I created myself
3. The echo of product pioneers
4. The model dilemma of Shede.com
5. The fleeting dream of the car wash app Cherry
Chapter 4: The Aftermath of Expansion
1. Jingrui Education’s "Northern Expedition"
2. The deadly trap of scale growth
3. "Franchise stores" cost me millions
4. The death of a profitable fast-food restaurant
5. Absurd mergers and barbaric bankruptcies
6. The setback of Bashan Farmer
Chapter 5: The Founder’s Self-Redemption
1. Don’t twist yourself, and don’t twist others
2. The self-redemption of Six Rooms
3. The near-death experience of a zero-fund small team
4. The life-and-death group treasure
5. Entrepreneurs who can kneel down
Questioning US stocks → Understanding US stocks → Joining US stocks
This is the Nasdaq weekly K-line, spanning BTC bull and bear markets, this is the world's largest capital pool, rising amid doubts
- What about the US-Iran war? It doesn't hinder my AI narrative
- What if the 10-year US Treasury yield rises? I keep going up
This week, Fed dynamics, economic data, and USD/JPY will change, but I will keep rising
It has to be Grok, generated once, missed the second time 😂
Prompt:
"A cheerful young Chinese woman with long straight brown hair, natural makeup, wearing a soft beige thin-strap camisole, holding a plank position on a blue mat in a bright gym studio, with mirrors and equipment in the background, soft natural lighting, editorial photography style, photo-realistic, warm smile, high detail, cinematic composition"
How did Justin Sun "launder" 20 billion USD into his own pocket?
How much money does Justin Sun really have? After checking the data, the core mainly lies in TRX
- BTC and ETH are worth about 1.8 billion USD (a bit low)
- TRX 21.4 billion (a bit too much)
So the main question is how to calculate this TRX
- Justin Sun controls about 60 billion, accounting for 63% of the total 95 billion, which is indeed too much
- Of the 60 billion, about 10 billion belongs to Justin himself, 34 billion to the foundation, plus acquisitions during the bear market, totaling 60 billion
So the controversy between Justin Sun and Bloomberg lies in whether the foundation's portion can be counted as belonging to Justin Sun (meaning he controls it but it doesn't belong to him)
Another point is that holding 63% definitely cannot be fully liquidated, so how Justin Sun presents this is the biggest issue, which is also why he doesn't want Bloomberg to disclose this part of the assets (fear of being targeted)
So how to liquidate? (This is the real reason Justin Sun doesn't want people to focus on)
Let's start the main text, feel free to bookmark⬇️
1. FTX vs TRX
The most worth learning from is FTX, which held most of the TRX, couldn't sell off heavily and even needed to continuously repurchase on the secondary market to maintain the price, then used third-party platforms to collateralize and borrow USDT (FTX did exactly this back then, resulting in a continuous supply of ammunition, but once the collateral collapsed, everything fell apart)
2. Substitution: HTX
Why did Justin Sun acquire Huobi? This is the biggest reason
- To hide his operational traces through HTX, because 60 billion is too large and needs an exchange to hide the traces
- Users think they are depositing USDT on Huobi to earn high interest, but in reality, the money is used to run arbitrage on Aave and JustLend, with Huobi earning the interest spread
- JustLend collateral lending: the collateral is basically all TRX, and TRX is the one Justin Sun has the most of
3. Nasdaq Tron Inc reverse merger
This was done in July 2025, essentially exchanging on-chain tokens for a US stock ticker
This is the real liquidation: no need to dump tokens, issue US stocks to receive USD → use USD to OTC buy TRX from Justin himself → TRX enters the Nasdaq company's treasury → USD goes into Justin's pocket. It's like left hand tokens, right hand stocks, packaging crypto chips as Wall Street assets. This is the "evil version" of Saylor's play — Saylor doesn't create BTC, but Justin creates TRX
4. USDD printing money (same model as Terra/UST)
- Collateralize TRX → print USDD → USDD attracts deposits with 20% annual yield → the deposited money flows into HTX/JustLend system
- USDD is backed by 10.9 billion TRX + 19.6 million USDT collateral, valued at $1.76 billion, supporting 745 million USDD in circulation
Printing his own "dollars" with his own tokens, then using these "dollars" to attract real dollars
So Justin Sun won't let USDD collapse because there are 2 billion USD interests behind it
5. OTC swaps
Invested over $40 million in World Liberty Financial TRUMP memecoin
Every step is very slick, increasingly impressive, a financial master
He bought WLFI, WLFI then bought TRX back, this is the traditional skill of "swapping shares" (of course the proportions differ because of SEC lawsuits, USD1 issuance chain, etc., not elaborated here)
Later WLFI is reluctant to sell TRX, but Justin Sun will sell WLFI without hesitation because for him it's a highly profitable deal
Analyzing up to here, I am increasingly impressed by Justin Sun, the subtle connections are vast and deep, so for Justin Sun now and for many years to come, how to slowly turn these 60 billion TRX, worth over 20 billion USD, illiquid assets into his own BTC and ETH is his primary and only task
That's all.
败犬女王~
Sun's assets have been exposed by the federal court -- about $23 billion USD
Due to mutual accusations between Bloomberg and Sun Yuchen, the court directly revealed Sun's assets.
17,000 BTC, 224,000 ETH, 60 billion TRX.
-- Not including stocks or cash versions, ranked within the global Forbes TOO100
Zhao Changpeng (CZ) with a net worth of $112.6 billion ranks 17th on the global Forbes TOP list.
@justinsuntron
Breaking: Nasdaq 100 index daily decline widens to -2%, BTC and other derivatives fall in sync
The reason is intensified inflation concerns; everyone worries that if inflation persists, the Federal Reserve will not cut interest rates, leading to a lack of market liquidity and risk assets starting to sell off
Suddenly seeing BYD Seagull selected as one of Time magazine's Best Inventions of 2025 feels so bizarre. How could such an ugly car make it? But it's indeed true. It seems Cai Yu's explanation is correct:
America's powerful innovation capability is almost entirely concentrated at the far end, in the highest premium deep tech fields.
Silicon Valley has little interest in "ordinary life problems," focusing more on autonomous driving, Mars colonization, trillion-parameter models, disruptive AI, and longevity/immortality. This also makes the U.S. today still the global center for basic science, AI modeling, and drug trials.
But the cost is a weak supply system for everyday products, and a scarcity of simple, efficient daily supplies for the American middle class and common people. This scarcity is wrapped in grand narratives by elite discourse, turning it into a fate that must be adapted to.
However, China's engineering capability can scale from 1 to n, making large AI models cheaper, electric vehicles cheaper, intelligent robots cheaper—making everything cheaper. This leads to the word "inclusive" sounding natural and justified in China, but extremely rare in the West.
From "Cai Yu Business Reference 4"