I have a bold theory: All Chinese crypto exchanges are essentially a "digital Forbidden City." The exchange owners can be regarded as "emperors," and all the drama within these exchanges can be understood as "palace politics."

Some emperors, like Emperor Jiajing, focus on self-cultivation and are masters of imperial power tactics. They allow two factions among their subordinates to check and balance each other. They turn a blind eye to internal corruption, are willing to share some power, and when one person succeeds, everyone around them benefits.

Other emperors emphasize absolute loyalty, are decisive in their actions, and do not tolerate any bargaining. Anyone who tries to seek more benefits or challenges authority is immediately removed.

Let's briefly discuss the topic of palace politics within crypto exchanges. This is purely fictional and meant for entertainment purposes only.

Power Struggles

To understand palace politics, one must first abandon the naive idea that there is a clear distinction between good and evil, loyalty and treachery here.

In the TV drama "The Ming Dynasty 1566," Yan Song, though later condemned as a treacherous minister, managed to stay in power as the chief assistant for many years through his exceptional political skills and safely landed. To a large extent, he helped fill the national treasury. However, after the "clean stream" officials took power and launched a fierce anti-corruption campaign, the national treasury became even emptier.

Where in the world are there purely loyal or treacherous ministers? There are only those who are useful to the emperor at the moment and those who are not, as well as those who succeed and fail in the struggle for power.

Where there are people, there are disputes and struggles.

Power needs to be implemented through personnel. The core of Yan Song's and Xu Jie's struggle was the control over the personnel of the Ming court. Whoever could place their own people in the Six Ministries and Nine High Officials would actually hold the real power and influence the actual operation of the court.

The power struggle within crypto exchanges is no different. Essentially, it is a competition for key positions.

For example, the most core departments such as listing, finance, and investment. With many people competing for limited positions, conflicts are inevitable.

As a boss, it is often desirable to see some competition among subordinates.

When subordinates compete with each other, they find it difficult to form a powerful alliance, thus eliminating the possibility of challenging authority.

When two factions are in conflict, each side has the motivation to provide negative information about the other to the boss. This allows the boss to obtain more comprehensive and multi-dimensional internal intelligence and also gives the boss leverage over the subordinates.

Of course, this kind of internal conflict among subordinates must be kept within a controllable range. Excessive internal strife can lead to resource waste, low efficiency, and even endanger the overall stability of the organization.

When one faction becomes too powerful and even threatens the boss's authority, the boss will then employ certain "imperial tactics," such as promoting someone internally or bringing in a professional manager from outside and giving them significant power to clean up the other faction.

For Emperor Jiajing, the core problem was: how to choose absolutely reliable ministers in a court where it is hard to distinguish between loyalty and treachery?

Crypto exchange bosses still face this dilemma.

Visible dangers include pressure from competitors and sudden regulatory raids. However, in the eyes of exchange bosses, the greatest danger often lies hidden around them, not easily detectable, such as betrayal by those close by. Therefore, favoring relatives and close friends becomes the best solution at present—key positions are often held by the founder's relatives, classmates, or even family members, even if they lack professional competence.

It has been proven that favoritism or family-run businesses are actually the safest in the crypto market.

Corruption and Anti-Corruption

Power struggles inevitably involve corruption and anti-corruption, two sides of the same coin, both being means to obtain power.

The key to palace politics is to assess the situation and choose the right side.

To form an alliance, a "bond" is often needed, such as being from the same hometown, the same school, or having the same professional experience... These can all serve as connection points, but more importantly, it is still about interests. Even regional or schoolmate relationships need to be maintained by money.

How to gain the trust of the "big brother"?

In addition to providing emotional value, more importantly, it is actually to offer some leverage, to voluntarily expose one's weaknesses. "Big brother, here are all my problems, for you to control. I will follow you no matter what."

Therefore, bribery or participating in collective corruption is actually the most effective way to show loyalty and also a way to test a person's loyalty. By tying several people together with money, can they not work together and help each other?

Specifically for crypto exchanges, internal corruption and insider trading are hard to eliminate for two reasons.

First, whether it is trading or working, the vast majority of people come to the crypto world for one purpose: to make money.

Especially when working in an "high-risk company" like an exchange, it is even more so. Many employees, especially those who have switched from traditional industries, will not have any sense of identity or belonging to the company. They are just thinking about how to make the most money in the shortest time.

Second, the crypto exchange is always in a gray area. Compared to corruption in traditional companies, corruption in exchanges is easier to escape legal sanctions and is more likely to be minimized. If things go wrong, they can just leave, but the goal has already been achieved.

This is also a long-term personnel dilemma for exchanges.

The Emperor's Vulnerability

Crypto exchange bosses and emperors share the same tragedy: the higher their position and the more power they have, the harder it is to build genuine trust.

Everyone who approaches them may have different motives: some covet certain core powers, some are after wealth, and some have ulterior motives. In such an environment, suspicion becomes instinctive, and caution becomes a habit.

This trust deficit ultimately leads to a smaller and smaller decision-making circle.

From watching TV dramas since childhood, I always had a question: why do emperors have a "treacherous minister" by their side, and yet still favor them?

Emperors are lonely. They do not lack money or power; what they lack is love and loyalty, which are also their vulnerabilities.

Once someone offers love and loyalty to those in power, making them feel warm and supported, even if this person's abilities are relatively average, they have value.

In this digital Forbidden City of crypto exchanges, technical talent is not scarce, nor are marketing experts, and even funding is not lacking. The only truly scarce thing is genuine loyalty.

A simple way to show love and loyalty is to support whatever the emperor does, the more absurd it is, the more you support it, the more it demonstrates your loyalty.

Running a crypto exchange is not an easy task. It is mentally and physically exhausting. Not only do you have to compete with peers, but you also have to guard against hackers and outsmart regulators. At this time, exchange bosses are often extremely tired and may even doubt themselves. Some do not know whether the growth and development of the exchange so far is due to their own wisdom and bravery or just luck. At this moment, they desperately need emotional support from the outside, a kind of mental healing, tirelessly telling them, "You are right, it all depends on you, and we are all grateful to you."

Human beings are not plants; who can be无情? The need to be recognized, loved, and needed is a natural human desire.

Ordinary people also desperately need love and loyalty. It's just that ordinary people are still at the lower levels of Maslow's hierarchy of needs, still struggling for life, and do not have the time or ability to pursue the value satisfaction of higher-level needs.

The Women by the Emperor's Side

When I talk about the women by the emperor's side here, I am not gossiping about the so-called harem, but referring to female executives.

It is very reasonable that exchanges often have a large number of female executives.

A traditional financial boss who once dominated the industry liked to employ female executives. In his view, compared with men, women are more loyal. No matter how much salary you give a man, he will never be satisfied. Even after many men are promoted and gain a lot of wealth and power, they do not feel much gratitude or loyalty in their hearts. Instead, their confidence is boosted, and they think, "I could do it too."

The essence of power is the thirst for loyalty and the fear of betrayal.

In the highly competitive environment of exchanges, what bosses worry about most is "cultivating their own gravediggers."

Male executives, after gaining power and wealth, often regard their current positions as stepping stones to higher power. They are more likely to attribute their achievements to their own abilities rather than the favor of their leaders. They are more likely to leave at the right time, start a competing business, or seek higher positions.

Female executives, on the other hand, often show stronger organizational loyalty and focus more on long-term and stable career development rather than taking risks to start their own businesses. They are more willing to attribute their success to teamwork and leadership cultivation, and therefore value their current positions and organizational relationships more.

Moreover, another major challenge faced by crypto exchanges is frequent crisis events and user communication. In this area, female executives often show unique advantages

I have a bold theory: All Chinese crypto exchanges are essentially a "digital Forbidden City." The exchange owners can be regarded as "emperors," and all the drama within these exchanges can be understood as "palace politics."

Some emperors, like Emperor Jiajing, focus on self-cultivation and are masters of imperial power tactics. They allow two factions among their subordinates to check and balance each other. They turn a blind eye to internal corruption, are willing to share some power, and when one person succeeds, everyone around them benefits.

Other emperors emphasize absolute loyalty, are decisive in their actions, and do not tolerate any bargaining. Anyone who tries to seek more benefits or challenges authority is immediately removed.

Let's briefly discuss the topic of palace politics within crypto exchanges. This is purely fictional and meant for entertainment purposes only.

Power Struggles

To understand palace politics, one must first abandon the naive idea that there is a clear distinction between good and evil, loyalty and treachery here.

In the TV drama "The Ming Dynasty 1566," Yan Song, though later condemned as a treacherous minister, managed to stay in power as the chief assistant for many years through his exceptional political skills and safely landed. To a large extent, he helped fill the national treasury. However, after the "clean stream" officials took power and launched a fierce anti-corruption campaign, the national treasury became even emptier.

Where in the world are there purely loyal or treacherous ministers? There are only those who are useful to the emperor at the moment and those who are not, as well as those who succeed and fail in the struggle for power.

Where there are people, there are disputes and struggles.

Power needs to be implemented through personnel. The core of Yan Song's and Xu Jie's struggle was the control over the personnel of the Ming court. Whoever could place their own people in the Six Ministries and Nine High Officials would actually hold the real power and influence the actual operation of the court.

The power struggle within crypto exchanges is no different. Essentially, it is a competition for key positions.

For example, the most core departments such as listing, finance, and investment. With many people competing for limited positions, conflicts are inevitable.

As a boss, it is often desirable to see some competition among subordinates.

When subordinates compete with each other, they find it difficult to form a powerful alliance, thus eliminating the possibility of challenging authority.

When two factions are in conflict, each side has the motivation to provide negative information about the other to the boss. This allows the boss to obtain more comprehensive and multi-dimensional internal intelligence and also gives the boss leverage over the subordinates.

Of course, this kind of internal conflict among subordinates must be kept within a controllable range. Excessive internal strife can lead to resource waste, low efficiency, and even endanger the overall stability of the organization.

When one faction becomes too powerful and even threatens the boss's authority, the boss will then employ certain "imperial tactics," such as promoting someone internally or bringing in a professional manager from outside and giving them significant power to clean up the other faction.

For Emperor Jiajing, the core problem was: how to choose absolutely reliable ministers in a court where it is hard to distinguish between loyalty and treachery?

Crypto exchange bosses still face this dilemma.

Visible dangers include pressure from competitors and sudden regulatory raids. However, in the eyes of exchange bosses, the greatest danger often lies hidden around them, not easily detectable, such as betrayal by those close by. Therefore, favoring relatives and close friends becomes the best solution at present—key positions are often held by the founder's relatives, classmates, or even family members, even if they lack professional competence.

It has been proven that favoritism or family-run businesses are actually the safest in the crypto market.

Corruption and Anti-Corruption

Power struggles inevitably involve corruption and anti-corruption, two sides of the same coin, both being means to obtain power.

The key to palace politics is to assess the situation and choose the right side.

To form an alliance, a "bond" is often needed, such as being from the same hometown, the same school, or having the same professional experience... These can all serve as connection points, but more importantly, it is still about interests. Even regional or schoolmate relationships need to be maintained by money.

How to gain the trust of the "big brother"?

In addition to providing emotional value, more importantly, it is actually to offer some leverage, to voluntarily expose one's weaknesses. "Big brother, here are all my problems, for you to control. I will follow you no matter what."

Therefore, bribery or participating in collective corruption is actually the most effective way to show loyalty and also a way to test a person's loyalty. By tying several people together with money, can they not work together and help each other?

Specifically for crypto exchanges, internal corruption and insider trading are hard to eliminate for two reasons.

First, whether it is trading or working, the vast majority of people come to the crypto world for one purpose: to make money.

Especially when working in an "high-risk company" like an exchange, it is even more so. Many employees, especially those who have switched from traditional industries, will not have any sense of identity or belonging to the company. They are just thinking about how to make the most money in the shortest time.

Second, the crypto exchange is always in a gray area. Compared to corruption in traditional companies, corruption in exchanges is easier to escape legal sanctions and is more likely to be minimized. If things go wrong, they can just leave, but the goal has already been achieved.

This is also a long-term personnel dilemma for exchanges.

The Emperor's Vulnerability

Crypto exchange bosses and emperors share the same tragedy: the higher their position and the more power they have, the harder it is to build genuine trust.

Everyone who approaches them may have different motives: some covet certain core powers, some are after wealth, and some have ulterior motives. In such an environment, suspicion becomes instinctive, and caution becomes a habit.

This trust deficit ultimately leads to a smaller and smaller decision-making circle.

From watching TV dramas since childhood, I always had a question: why do emperors have a "treacherous minister" by their side, and yet still favor them?

Emperors are lonely. They do not lack money or power; what they lack is love and loyalty, which are also their vulnerabilities.

Once someone offers love and loyalty to those in power, making them feel warm and supported, even if this person's abilities are relatively average, they have value.

In this digital Forbidden City of crypto exchanges, technical talent is not scarce, nor are marketing experts, and even funding is not lacking. The only truly scarce thing is genuine loyalty.

A simple way to show love and loyalty is to support whatever the emperor does, the more absurd it is, the more you support it, the more it demonstrates your loyalty.

Running a crypto exchange is not an easy task. It is mentally and physically exhausting. Not only do you have to compete with peers, but you also have to guard against hackers and outsmart regulators. At this time, exchange bosses are often extremely tired and may even doubt themselves. Some do not know whether the growth and development of the exchange so far is due to their own wisdom and bravery or just luck. At this moment, they desperately need emotional support from the outside, a kind of mental healing, tirelessly telling them, "You are right, it all depends on you, and we are all grateful to you."

Human beings are not plants; who can be无情? The need to be recognized, loved, and needed is a natural human desire.

Ordinary people also desperately need love and loyalty. It's just that ordinary people are still at the lower levels of Maslow's hierarchy of needs, still struggling for life, and do not have the time or ability to pursue the value satisfaction of higher-level needs.

The Women by the Emperor's Side

When I talk about the women by the emperor's side here, I am not gossiping about the so-called harem, but referring to female executives.

It is very reasonable that exchanges often have a large number of female executives.

A traditional financial boss who once dominated the industry liked to employ female executives. In his view, compared with men, women are more loyal. No matter how much salary you give a man, he will never be satisfied. Even after many men are promoted and gain a lot of wealth and power, they do not feel much gratitude or loyalty in their hearts. Instead, their confidence is boosted, and they think, "I could do it too."

The essence of power is the thirst for loyalty and the fear of betrayal.

In the highly competitive environment of exchanges, what bosses worry about most is "cultivating their own gravediggers."

Male executives, after gaining power and wealth, often regard their current positions as stepping stones to higher power. They are more likely to attribute their achievements to their own abilities rather than the favor of their leaders. They are more likely to leave at the right time, start a competing business, or seek higher positions.

Female executives, on the other hand, often show stronger organizational loyalty and focus more on long-term and stable career development rather than taking risks to start their own businesses. They are more willing to attribute their success to teamwork and leadership cultivation, and therefore value their current positions and organizational relationships more.

Moreover, another major challenge faced by crypto exchanges is frequent crisis events and user communication. In this area, female executives often show unique advantages