With the maturity of the cryptocurrency finance field, exchanges are facing waves of mergers, reorganizations, and bankruptcies; There is no room for so many exchanges in the world. In the environment of depressed market, cut stock and no sprouting of new chives, so many chives contribute service fees and contract positions, and the future will be a situation of more people than people can chew! The operating costs of an exchange are astonishing. Even for a second tier exchange, there are nearly a thousand servers, and hard fees such as servers, various cloud services, bandwidth, etc. are at least several million to tens of millions. The total number of employees in various departments of an exchange like Dianxiang is not less than a thousand. Binance, the largest exchange in the universe, has 8000 employees, many of whom are programmers with salaries starting from 5000 US dollars. Even for small exchanges, the salary is several million to tens of millions; Bybit lost 1.5 billion, which, in their own words, is a year's net profit. Adding various operating costs, Bybit needs to earn at least 2 billion or more in a year; A group of second tier exchanges such as X, M, G, coin, and Bybit need to earn over 10 billion yuan from the cryptocurrency market in a year, while Binance and OKX earn even more. Roughly estimated, the exchange earns 20 billion yuan from the cryptocurrency market every year, which is equivalent to drawing 20 billion yuan in blood. This does not even include exchanges outside of Greater China, which requires a continuous infusion of blood into the cryptocurrency field; In any emerging industry, there will always be a flourishing situation in the early stages, and in the end, the sand will wash away, leaving at most 2-3 companies. For example, in the automotive industry, there were more than a thousand car factories in the United States at its peak, but as early as two and a half were left. The cryptocurrency industry is no exception, and the closure of accounts by exchanges is a precursor!