Thinking back to the early days of the last bear market, a certain third-party trading app had a massive leak of users' exchange APIs, leading to hackers performing wash trades and draining accounts in no time. At the time, CZ insisted on not compensating users, arguing that it wasn’t the exchange’s responsibility. I agreed with his stance back then—after all, if you lose your own keys, can you really blame the lock for not being secure enough? In contrast, SBF chose to compensate quickly under public pressure. This incident actually highlights the starkly different personalities of the two founders: One sticks to principles, refusing to pay for something that isn’t his responsibility; The other spends money like water—fast to spend, and fast to meet his downfall. So, when Binance announced a $300 million "fund" this time, questions naturally followed— Is this money a gesture of goodwill to protect user funds, or, to some extent, an implicit acknowledgment that Binance can’t entirely escape blame in this liquidation event?