Whether it's the FUD posts from foreigners like "Sister Wood" or Lao Xu's long article yesterday,
the fundamental reason why Block.net (BN) is suffering so much is: "The nail that sticks out gets hammered down."
Previously, with FTX involved, the bickering between the two wasn't a major problem.
Now, BN stands alone.
Internally, other exchanges want to rise to the top, and externally, Hype is eyeing the market covetously. As the leader, BN is more or less influenced by public opinion, directly or indirectly giving up market share.
Only when a behemoth second only to BN emerges, whether it's a DEX or a CEX, will this situation be resolved.
Because then it will be discovered that the newcomer isn't any better. 🤣