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The Final Cut: Will the Rate-Cycle End in Another Bitcoin Crash?
A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...
Robinhood vs. Coinbase: A $160-Billion Duel
Baihua Blockchain • August 11, 2025 Author: Thejaswini MA | Translated & edited by Baihua --- A Quiet War in Your Pocket A silent battle is unfolding on your phone screen, and most people still haven’t noticed. America’s two flagship finance apps—Robinhood and Coinbase—are running diametrically opposed experiments on millions of users. Robinhood sits at No. 14 in the App Store’s Finance category; Coinbase is at No. 20. Both are worth roughly $80 billion. Both chase the same young investors, y...
$500 Million Bet on Anthropic: SBF Almost Made the Most Successful Investment in AI History
In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...
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Jia Yueting, Crypto Veteran
The Final Cut: Will the Rate-Cycle End in Another Bitcoin Crash?
A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...
Robinhood vs. Coinbase: A $160-Billion Duel
Baihua Blockchain • August 11, 2025 Author: Thejaswini MA | Translated & edited by Baihua --- A Quiet War in Your Pocket A silent battle is unfolding on your phone screen, and most people still haven’t noticed. America’s two flagship finance apps—Robinhood and Coinbase—are running diametrically opposed experiments on millions of users. Robinhood sits at No. 14 in the App Store’s Finance category; Coinbase is at No. 20. Both are worth roughly $80 billion. Both chase the same young investors, y...
$500 Million Bet on Anthropic: SBF Almost Made the Most Successful Investment in AI History
In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...
1. The 30-Million-Dollar Tweet
On 8 Oct Jia Yueting posted a rendered FF car stamped with the letters “BNB” and the caption “Drive a Binance-mobile, live a Binance-life.”
A freshly-minted meme coin called “Binance Car” instantly screamed to a $30 m market-cap.
Hours later Jia clarified: “I have never issued any token.”
The message was deleted, the pump evaporated, but the 42-year-old showman had proved he can still move markets with a single JPEG.
---
2. From “Eco-Synergy” to “EAI + Crypto Flywheel”
While Faraday Future cars remain scarce, Jia’s new vehicle is a balance-sheet.
In September his Cayman-registered crypto fund C10 Treasury reported a 7 % unrealised gain and then spent $41 m to swallow NASDAQ shell QLGN.
Subject to shareholder vote the ticker will become CXC10 and the mandate will switch to “Web3 treasury management” backed by the top-10 liquid crypto-assets.
Jia calls the strategy “EAI + Crypto dual flywheel”—electric-intelligence mobility on one side, on-chain treasury on the other, each feeding hype and liquidity to the other.
---
3. The First Crypto Crush—2011-2016
Jia’s blockchain romance is fourteen years old.
In 2011, while LeTV was still China’s hottest video stock, cloud engineer Li Ming was running a Bitcoin node on his office laptop.
Jia asked for primers, then green-lit a secret project to embed hash-power into LeTV boxes and TVs—users would mine satoshis to pay for annual subscriptions.
By 2015 LeTV sold 3 million smart-TVs; BTC had just kissed $1 k.
The mining feature never shipped, but Jia kept the lab alive.
---
4. A Lab, a Legend, a Liquidity Crunch
March 2016: LeTV Blockchain Lab is formally opened, headed by ex-BoCom vice-president Wang Yongli.
Experiments ranged from copyright NFTs to Stellar-based cross-border payments for LeTV’s incoming Vizio acquisition.
December 2016: LeTV signs a strategic MoU with Stellar, the first Chinese tech giant to partner with a public chain.
The same month LeTV’s bank accounts are frozen; the empire enters free-fall.
The lab is mothballed, but the intellectual seed is planted.
---
5. Exit to America, Tokens in the Air
July 2017 Jia boards a one-way flight to Los Angeles.
While FF burns cash, the ICO circus rages.
In China, LeTV’s spin-off Lerong Zhixin teams with start-up OneChain to launch the “One-Chain Box”—a $59 TV dongle that rewards users with OC tokens for sharing bandwidth.
The Shenzhen exchange issues a blockchain-hype warning; the device is discontinued within weeks.
At least 17 ex-LeTV engineers scatter into crypto, founding exchanges, layer-2 studios and custody shops—Jia’s diaspora becomes an unplanned angel-network.
---
6. 2025: The Comeback Deck
Today Jia pitches investors inside a rented WeWork in Santa Monica.
The deck opens with a photo of the deleted BNB-car tweet and the line:
“Attention is the scarce asset—FF and C10 will monetise it.”
Slide 12: CXC10 will custody BTC, ETH, SOL, BNB, HYPE, etc., lend to institutions, and issue tokenised convertible notes backed by FF vehicle pre-orders.
Slide 17: FF 91 deliveries (whenever they happen) will embed a hardware wallet; every mile driven mines “EAI-miles” convertible to CXC10 tokens.
Institutional backers—mostly Asian family offices—have already subscribed $80 m of the planned $200 m PIPE.
---
7. Déjà Vu or Real Deal?
Bulls argue Jia finally has the right timing: spot-crypto ETFs are live, tokenised T-bills trade billions weekly, and carmakers issue loyalty tokens.
Skeptics see the same movie: grand narrative, opaque cash-flows, minority shareholders left holding the bag.
The next chapter is simple to describe, hard to execute: ship cars, ship code, ship returns—in that order.
For the “old man of crypto” who never mined a block yet never stopped mining attention, the final test has just begun.
1. The 30-Million-Dollar Tweet
On 8 Oct Jia Yueting posted a rendered FF car stamped with the letters “BNB” and the caption “Drive a Binance-mobile, live a Binance-life.”
A freshly-minted meme coin called “Binance Car” instantly screamed to a $30 m market-cap.
Hours later Jia clarified: “I have never issued any token.”
The message was deleted, the pump evaporated, but the 42-year-old showman had proved he can still move markets with a single JPEG.
---
2. From “Eco-Synergy” to “EAI + Crypto Flywheel”
While Faraday Future cars remain scarce, Jia’s new vehicle is a balance-sheet.
In September his Cayman-registered crypto fund C10 Treasury reported a 7 % unrealised gain and then spent $41 m to swallow NASDAQ shell QLGN.
Subject to shareholder vote the ticker will become CXC10 and the mandate will switch to “Web3 treasury management” backed by the top-10 liquid crypto-assets.
Jia calls the strategy “EAI + Crypto dual flywheel”—electric-intelligence mobility on one side, on-chain treasury on the other, each feeding hype and liquidity to the other.
---
3. The First Crypto Crush—2011-2016
Jia’s blockchain romance is fourteen years old.
In 2011, while LeTV was still China’s hottest video stock, cloud engineer Li Ming was running a Bitcoin node on his office laptop.
Jia asked for primers, then green-lit a secret project to embed hash-power into LeTV boxes and TVs—users would mine satoshis to pay for annual subscriptions.
By 2015 LeTV sold 3 million smart-TVs; BTC had just kissed $1 k.
The mining feature never shipped, but Jia kept the lab alive.
---
4. A Lab, a Legend, a Liquidity Crunch
March 2016: LeTV Blockchain Lab is formally opened, headed by ex-BoCom vice-president Wang Yongli.
Experiments ranged from copyright NFTs to Stellar-based cross-border payments for LeTV’s incoming Vizio acquisition.
December 2016: LeTV signs a strategic MoU with Stellar, the first Chinese tech giant to partner with a public chain.
The same month LeTV’s bank accounts are frozen; the empire enters free-fall.
The lab is mothballed, but the intellectual seed is planted.
---
5. Exit to America, Tokens in the Air
July 2017 Jia boards a one-way flight to Los Angeles.
While FF burns cash, the ICO circus rages.
In China, LeTV’s spin-off Lerong Zhixin teams with start-up OneChain to launch the “One-Chain Box”—a $59 TV dongle that rewards users with OC tokens for sharing bandwidth.
The Shenzhen exchange issues a blockchain-hype warning; the device is discontinued within weeks.
At least 17 ex-LeTV engineers scatter into crypto, founding exchanges, layer-2 studios and custody shops—Jia’s diaspora becomes an unplanned angel-network.
---
6. 2025: The Comeback Deck
Today Jia pitches investors inside a rented WeWork in Santa Monica.
The deck opens with a photo of the deleted BNB-car tweet and the line:
“Attention is the scarce asset—FF and C10 will monetise it.”
Slide 12: CXC10 will custody BTC, ETH, SOL, BNB, HYPE, etc., lend to institutions, and issue tokenised convertible notes backed by FF vehicle pre-orders.
Slide 17: FF 91 deliveries (whenever they happen) will embed a hardware wallet; every mile driven mines “EAI-miles” convertible to CXC10 tokens.
Institutional backers—mostly Asian family offices—have already subscribed $80 m of the planned $200 m PIPE.
---
7. Déjà Vu or Real Deal?
Bulls argue Jia finally has the right timing: spot-crypto ETFs are live, tokenised T-bills trade billions weekly, and carmakers issue loyalty tokens.
Skeptics see the same movie: grand narrative, opaque cash-flows, minority shareholders left holding the bag.
The next chapter is simple to describe, hard to execute: ship cars, ship code, ship returns—in that order.
For the “old man of crypto” who never mined a block yet never stopped mining attention, the final test has just begun.
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