A letter from a Peking University student’s mother to the various leaders of public prosecution and legal departments in Wuxi, China.
Dec 16, 2022
Dear Leader,
We are Wang Daming and Yang Yujing, the parents of Wang Yang in the “Liang Liang, Chen Hua, Wang Yang and others suspected of organizing and leading pyramid schemes”. As family members who have always accompanied him to grow, study abroad, and return to start a business, we, two old people, write to you. The first is to introduce Wang Yang’s real situation to you, and the second is to put forward our views on this case.
I. Wang Yang’s Growth and Career
Since Wang Yang was young, we have taught him to work hard, to be honest and kind, and he has been doing so in his growth process. He went to Jilin Provincial Key School, Jilin Normal University Attached Middle School, in 1994. During his study, his grades got better and better, and he actively sought political progress and soon joined the Communist Youth League. In the 1998 junior high school to high school exam, he scored 641.5 points, the highest in the school, and entered the high school experimental class of Jilin Normal University Attached Middle School. In 2001, he scored 655 points and entered the College of Life Sciences at Peking University. He graduated from Peking University in 2005 and obtained a bachelor’s degree. Wang Yang received a full scholarship in 2006 to study at the State University of New York in the United States and obtained a master’s degree a few years later. During his Ph.D. studies, he and Mr. Liang Liang, Dr. Chen Hua and several other outstanding Chinese in the United States, most of whom were technical talents from technology companies, established a quantitative fund together to use their own research and development models and strategies to invest in the U.S. financial market. However, out of love for the motherland and approval of Liang Liang’s idea of starting a business in China, that the meaning of career development is not to make money, but to explore innovative technologies and create value for society. Therefore, Wang Yang gave up his doctoral degree and U.S. green card and chose to leave the United States and return to China for development at the end of 2011.
From 2012 to 2017, Wang Yang tried and explored various directions for starting a business, achieving certain results. Around 2017, he and Mr. Liang Liang, Mr. Shi Yueming, Dr. Chen Hua and others who also returned from the United States to start businesses in China started working together. They raised tens of millions of RMB themselves, established an online clothing rental platform and offline laundry factories, became a hot new type of shared economy project, widely accepted and tried by users, reported and interviewed by CCTV, and successfully received tens of millions of dollars in investment from Junlian Capital and other top venture capital funds.
Later, at home and abroad, research and application of blockchain technology developed vigorously. Liang Liang, Chen Hua, and Wang Yang also began to study this topic together. As traditional financial quantitative traders, they saw that the digital asset trading field is still using traditional centralized solutions. However, different from the traditional financial field, there is no regulation and trusted third-party institutions to endorse the digital currency trading field, and the regulations and efforts of each country are different. Compliance is a huge challenge, however, “centralization without supervision” will lead to digital asset trading becoming a “hotbed of evil” and “crime”. Therefore, they repeatedly studied and demonstrated their ideas, and during this period, more technical experts in computers and encryption algorithms from well-known domestic and foreign companies from the United States and Canada with the same aspirations joined them. They began to research and develop a blockchain technology solution to solve the trust problem of digital asset trading, and innovatively developed the Coinxp blockchain technology platform. They updated and tracked the latest blockchain technology and papers, participated in global blockchain technology forums, exchanged with industry experts at home and abroad, and with everyone’s joint efforts, the CoinXP public chain they developed was recognized and invested by domestic and foreign venture capital. They were also invited to participate in relevant technology forums by the Wuzhen Internet Conference and the Chengdu Municipal Government. After the CoinXP public chain was completed, this group of ambitious tech geeks carefully studied the policies and regulations on virtual currencies issued by China. They did not follow the usual way of issuing tokens for the first time (ICO) with one concept, but instead made further HUBDex trading applications on the CoinXP public chain that they had invested in research and development for more than two years. They wanted to prove to the industry and the world that the underlying technology of its developed public chain can be verified and used, and before the case happened, Wang Yang, Chen Hua, and Liang Liang were still looking for developers with stronger technology to join, to further solve the technical problems that will be encountered in specific applications.
II. Wang Yang is a passionate patriot, not a criminal
In 2011, Wang Yang, filled with a passionate desire to serve his country, gave up a comfortable life in the United States to return to China and start a business. Over the years, he has been law-abiding and has made significant contributions to the development of both his country and his company. However, a baffling incident occurred in April 2021 when he, Liang Liang, and Chen Hua were arrested by the Wuxi Public Security Bureau.
Upon hearing the news, our entire family was shocked. We could not believe that our son Wang Yang could be a criminal! After a long period of gathering information and examining every detail of his entrepreneurial journey, we have even stronger reason to believe that he is not guilty of any wrongdoing. Wang Yang was merely engaged in entrepreneurship, not the so-called pyramid selling, and certainly not fraud!
The trading platform they developed uses cutting-edge blockchain technology, a new technology that prevents cheating and ensures fair and accurate recording of transaction data. This decentralized technology required a lot of effort from the team and is not a simple manual accounting operation in the background. It is completely free of fraudulent characteristics!
III. Our Family’s Current Situation
Wang Yang’s grandmother, who is 92 years old this year, is a long-standing party member who has been faithful to the revolution and the party for over seventy years. She is very shocked and furious about Wang Yang’s situation, and cannot understand why such an obvious “darkness under the light” could occur in broad daylight, at a time when our country and party pay great attention to law enforcement, fairness, and the happiness of the people. Living daily in anxious pain, she urges us to seek leaders of relevant departments and clarify the matters of her grandson’s entrepreneurship. She hopes every day that her grandson will return home soon, persisting in her pain and determined to vindicate him in her lifetime, and to see the day when her grandson comes home.
Wang Yang’s wife gave birth to their son on December 26, 2021, and the child has not yet seen his father. As she is taking care of the child and currently does not work, their expenses are quite large and life is difficult. They were married for only half a year before such a catastrophe struck, and they have been in tears daily ever since.
We, both around seventy years old now, are not in good health. In addition to rushing around for Wang Yang’s matters, we also have to spare energy to care for Wang Yang’s grandmother and son. Our days are fraught with distress and we are in a very difficult situation!
Based on our son’s growth experience and overall situation, we fully believe that he would absolutely not do anything illegal or criminal!
We earnestly hope that the public, procuratorial, and judicial authorities, including the Procuratorate, can treat these three technological innovators and entrepreneurs fairly. Faced with the restored facts, we hope they have the courage to correct the mistake, clear our son’s name soon, and allow him to return to his family and society. We believe that in the face of a government and country that dares to correct mistakes and listen to its people, he will be even more patriotic and able to make more contributions to the country!
Best regards,
Wang Yang’s father, Wang Daming
Wang Yang’s mother, Yang Yujing
March 10, 2022
