Crypto's Spring Festival Gala, cold light shines upon all beings
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Crypto's Spring Festival Gala, cold light shines upon all beings
A cool sight, reflecting the myriad faces of the crypto world.
Navigating Web3 tides with focused insightsBy aya, TechFlow
High leverage, instant wealth, youth, desire, and online feuds—wherever Liangxi is involved, traffic inevitably follows. Countless newcomers to the industry have heard his legendary rise from various sources: during the May 19 market crash, he turned 1,000 yuan into 10 million yuan using high-leverage margin trading.
A few days ago, Liangxi’s domestic social media accounts were repeatedly suspended. After multiple unsuccessful appeals, he finally registered a Twitter account and invited several prominent influencers on the platform to vouch for him.
Eager to interact with his fans in his new home, Liangxi launched his first-ever Twitter Space shortly after learning how to start a voice chat.
What followed exceeded anyone’s expectations.
The 19-year-old boy never expected so many people would tune in to hear his story. Listeners flooded in like a tidal wave. Within minutes, the concurrent audience count in Liangxi’s Space shattered previous records in the Chinese crypto community—and kept climbing, eventually topping Twitter’s global real-time Space rankings.
Liangxi joked, ranted, and answered fan questions, recounting every person and event he'd encountered since entering the crypto world.
More and more people poured in.
As Liangxi fumbled slightly with the Space controls, the show heated up—KOLs, community members, project teams, and institutions took turns on stage, creating chaos, noise, and endless laughter and insults hidden behind countless screens, forming the main theme of crypto’s Spring Festival Gala.
The climax came when Du Jun and Justin Sun joined the party, each pledging $50,000 to support Liangxi in “chasing his dreams during the bear market,” turning the gala into full-blown comedy.
Interestingly, shortly after the Space ended, Xiaoxia—the self-proclaimed “archenemy” who has long clashed with Liangxi on Weibo—also launched his very first Twitter Space.
Amid a bleak bear market, Liangxi’s Twitter Space sparked a frenzy of traffic and public discourse. What exactly are people paying attention to?
First, Liangxi is a natural comedian—or rather, a “master of crosstalk.” His sharp tongue, combined with emotionally charged expressions, makes him highly charismatic. This is pure talent—something you simply can’t learn.
Through jokes and banter, users began collecting and circulating “Liangxi Quotes,” which quickly spread through communities like scripture.
As traffic surged, Liangxi himself became the focal point. Some rushed to speak on mic, others seized the moment to promote their projects in the Twitter Space, some angrily accused KOLs of riding the hype, while others apologized or responded to criticisms…
Everyone wanted to gain something from Liangxi’s spotlight.
After the crypto Spring Festival Gala, another round of online drama is likely brewing.
But if we’re talking about the biggest winner, one man stands out—Brother Sun.
One is the top influencer in the Chinese derivatives scene; the other, the global crypto kingpin. When two titans meet, even Liangxi has to respectfully call him “Brother Sun.”
Justin Sun donated $50,000 as a “Huobi Dream Fund,” while Huobi co-founder Du Jun also pledged $50,000, promising an additional $500,000 reward if Liangxi grows his live-traded account on Huobi to $1 million…
Though maybe Brother Sun should first help Liangxi get a Grenadian passport to pass KYC? Doge.jpg.
Ultimately, the biggest winners might just be Huobi and Brother Sun. For $100,000, they achieved marketing exposure worth millions. Every trending moment becomes Brother Sun’s moment.
This naturally leads us to wonder: what kind of narrative does the market crave today? No matter the project, everything eventually boils down to two simple words: “MEME” and “FOMO.” The flood of listeners seems to subconsciously accept this reality.
Much like the performances after midnight on the actual Spring Festival Gala, Liangxi’s broadcast eventually became a stage for the “adults”: pleasantries and mutual flattery echoed through the Space, while the protagonist Liangxi lost the chance to engage equally with his fans. KOLs competed fiercely, each hoping to stay in the spotlight a few extra seconds—even being criticized was better than receiving no attention at all.
As always, people only see Liangxi arguing under the spotlight, and they see his embarrassment and helplessness there too—both becoming fodder for casual conversation.
Caught in an increasingly complex vortex, Liangxi is both a performer on stage and a reflection of countless individuals struggling through the bear market.
One Liangxi reveals the entire spectrum of the crypto world.
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