Dear cryptoers,

2020 is destined to be an extraordinary year. Within three months, the global economy has been in panic of COVID-19, stock market crashes and the breakout of oil price war; cryptocurrencies, as a new type of assets, have also been severely impacted. Throughout history, turnarounds have always come with crises. As the CEO and co-founder of KuCoin Global, I think now is an important moment for all industry practitioners to examine themselves and solve problems.

Image for post
Image for post

Here I decided to take the lead in the name of KuCoin to launch the “Project Pinocchio”, also known as the “Pinocchio Integrity Plan” which aims to create a data-driven integrity index and a credit information system that’ll ultimately benefit the whole cryptocurrency industry, thanks to the solid blockchain technology of ours and our allies’. …

It’s been a while. Sorry for coming back with a hard advertisement. No need to read it if not interested in running crypto exchange.

Image for post
Image for post

There are a lot of verticals in the blockchain arena in which we strongly expect to see disruptive innovations that may restructure the fundamental of traditional internet and eventually reshape the life of human-being.

However, only a handful seem to have viable business models, lesser are potentially profitable, even fewer are actually generating positive money flows so far.

Crypto exchange is one of the very few cash cows.

The backbone of this cow is obviously a solid trading engine system. But it’s technically daunting and economically costly to build a secure, efficient and full functional platform. …

As Facebook was educating the U.S. Senate about cryptocurrency and blockchain, across the Pacific Ocean, Chinese Internet giant Alibaba’s subsidiary Ant Financial announced over 40 cases employing blockchain technology, proudly.

Image for post
Image for post

By the way, we all know it’s THE U.S. Senate, the members of which were questioning Mark Zuckerberg about Facebook’s profitability given that the social network “remains free”.

No hard feelings, my American friends. I simply hope to see regulatory and policy tailwind spread globally.

If, however, I have to make another analogous US-Sino comparison like the one above, I found some references from Cointelegraph:

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity. — Donald Trump. …

Shxt happens.

I am not referring to Facebook’s hearing over Libra, which doesn’t seem to be going so well. Neither am I referring to the plunge of Bitcoin’s price and market-cap over the past weeks, the former was once down to $9,100 from $13,000, while the latter just shrank by over $50 billion.

Come on, of course I am referring to such news!

But I am not so worried about it, not on a long-term horizon. If there’s a mess, we will clear it up and restart.

Image for post
Image for post

Plus, although my faith never falters, positiveness just keeps strengthening it.

Last night, I was hanging out with a bunch of college friends, one of whom is an artist. This guy paints, plays piano and a few other instruments, meditates, dates a girl researching Buddhism, and occasionally tries special herbs. …

I am from a true gourmet city, and yet, I am astonished by the Taiwanese night market food, once again.

Beef noodle, in spite of being high-carb, is served as an appetizer. The main courses include, but are not limited to, Taiwanese sausage with sticky rice, grilled squid, deep-fried chicken cutlets, salt chicken, and braised pork knuckle. Last but not least, desserts are grass jelly, mochi, mango shaved ice, snowflake ice, and adzuki bean with milk ice.

Don’t get me wrong, these foods were consumed by the KuCoin delegation attending the Asia Blockchain Summit 2019 — there were four of us. …

It’s really funny that people can always think of that one drinker friend who never seems to be affected by alcohol. I used to drink beer with a friend — a very invigorating guy that could easily smash me in a drinking competition. If I would ever participate in one with him, that is.

I got so curious that I couldn’t help asking him: “How much can you actually drink?” He said: “You mean for how long can I drink?”

Right, I was watching him drink draught beer non-stop for three hours and he was still as sober as a judge. …

Have you ever been trapped in your dream to the point that you subsequently miss your alarm clock, and consequently run late for work?

The frustration of being chastised by your supervisor would be greatly offset if it was a sweet dream, or be significantly deteriorated if it was a terrifying one, like the one I had last night. I lived the world of a movie I watched many years ago, “In Time”.

The film pictured a future in which time is the only currency, with the rich being able to live forever, while the poor, working extremely hard to survive, have just a few more hours. …

As much as I enjoy reading Bloomberg’s articles, I didn’t appreciate its latest report on the potential regulatory risk against the cryptocurrency world — the headline, to be precise, I personally found to be rather clickbait.

Check this out — “Crypto Exchanges Are Facing Their Biggest Regulatory Hurdle Yet”.

Image for post
Image for post

Let’s leave out the subjective and objective, which are neutral words. It’s the use of present tense and superlative adjective — how terrifying they sound!

Fortunately, the actual wording of the report body reads much less hyperbolic and more rational.

The core content focuses on the news that the intergovernmental organization Financial Action Task Force (FATF), which develops recommendations against money laundering and financing of terrorism, will publish a note of guidelines for virtual asset watchdogs later this month. …

Although us crypto start-up workers don’t really clock in or clock out — yep, 996 working-hours are so out, we’re on standby 24/7 — I am actually seriously running late for work!

As much as I want to yell at the obvious green-hand driver of Didi Chuxing (Uber-like ride hailing app) who is driving slow like a sloth, I manage to maintain my composure. Safety is most important, after all.

In order to make the commute less boring, I started to round up the top news of this week, trying to look past the surface and read between the lines, ideally seeing the bigger picture. …

Yesterday after work, quite late at night, I bought half a dozen banana tarts for my kids, hoping to make up for missing the game time I promised them a day before. But it was so late that my one-year and three-year boys were long asleep.

So, what’s the ending for those six tarts?

It was a happy one, of course! They ended up in my stomach and will hopefully grow into a sturdy fat layer that helps me to stand against the cold when winter comes.

Do I prefer enjoying the gratification of eating sweets, or having health and a good-looking six-pack? …


Johnny Lyu

KuCoin Co-founder & VP, doubles the partner of KuCoin’s investment affiliate Phoenix Global Capital, blockchain frontrunner, investor and advisor.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store