A while ago, I chatted with a friend and mentioned the method of estimating the exchange's revenue. The annual revenue of the exchange ranges from 20-40% of the capital sink. That is to say, after the user's money is deposited, it is either taken to the internal wealth management (lending) of the exchange, or opened a contract and directly eaten up by the self operated MM. In short, more than 20% of it will be transferred to the exchange after a year of twists and turns. It is not uncommon for cryptocurrency exchanges to suffer losses from customers. I remember in 2022, we talked about the Perp Dex project developed by the middle and senior management of CEX. They told me that the exchange would label users internally, and for users with high leverage who have been losing money, they would generally label them as fools and not offset their positions. Some mid to late end exchanges even assume that all users are dumb users, and only those who earn limited withdrawals will be more careful to hedge their positions. The profit margin of this batch of exchanges is particularly high, and may even reach 60% of the capital sink. The Bitget incident was mainly due to internal risk control issues. It took more than 10 minutes to realize the problem and turn off the strategy. It was obvious that no one paid attention to it over the weekend, or that there were problems with the decision-making process of the executives who couldn't find anyone. I heard that Bitget has the highest workload in the industry. It can only be said that in case of unexpected situations, working overtime by more people is not very useful. It still depends on the employees' ownership of the company. Although I don't know Xie Jiayin, his feedback speed this time is quite fast. His attitude towards the community and real-time feedback are much better than his predecessor's. I remember the most classic quote from his predecessor was' Today is the weekend, not my working hours'. If he is still estimating that the massive wave of coin withdrawals is about to begin. As a fellow ox and horse, I am well aware that achieving this is not easy and requires a strong sense of identification with the company. I suggest giving him a salary increase.