I think it's good that Infini stopped its U-card business, although everyone believes in Li's character and reputation. However, ultimately it is the product that speaks for itself. The U-card itself is quite a pseudo proposition. Which are the two largest places in the U-card market, the United States and China It is convenient to withdraw funds in the United States, and Coinbase's ACH withdrawal savings card rate is 0. And 99% of Americans like to use credit cards. The cashback rate for credit cards in the United States is over 1%. Because the credit card swipe rate in the United States is over 2%, most of it goes to banks, so banks return this money to users and earn a cover to cover operating costs. Banks can charge high interest rates by stimulating user consumption. Essentially, it is still a lending business. So what are the reasons for American users to use U-cards? China's withdrawal can only be OTC, with withdrawal rates and costs ranging from 0.5% to 1%, and there is a risk of receiving black money. However, China's UnionPay POS is priced at 1400 yuan, so there is basically no cashback, and the value of points is also relatively low. Nevertheless, there are still many discounts and opportunities to take advantage of. So domestic U-cards have certain advantages. Compliance is difficult, as both payment channels and acceptance of Chinese KYC will face various obstacles. So U-cards are not a good business. Although OTC traders may seem primitive, primitive methods can also create industries and empires. For example, why is Shuibei's gold and jewelry industry leading globally? Because every day there are countless 50 year old Hong Kong uncles and aunts at various customs in Shenzhen, who hide gold bars on their bodies and hand them over to the contact person through customs, directly sending them to Shuibei for processing. Each gram of gold is about 5% cheaper, while gold bars from the Shanghai Gold Exchange used in other regions are more expensive. Shenzhen Shuibei has crushed jewelry production and manufacturing enterprises nationwide with its cost advantage. Yes, the fundamental pillar of a phenomenal jewelry industry cluster is the 50 year old Uncle Grandpa who passes customs every day. The world is a huge grass platform team, FK it.