Li Xiaolai, the so-called richest man in Bitcoin world in China Li Xiaolai, has recently been in a leaked recording scandal. His arrogant comment on the Chinese crypto field in a private conversation was secretly recorded and leaked.
Li not only offended individual crypto investors calling them “idiots”, but also a variety of crypto projects and his “buddies”, including Lao Mao, CEO of crypto exchange Big.one, Binance founder Zhao Changpeng, Justin Sun, founder of TRON.
The language he used has caused quite a stir in China and topped the Baidu hot search. Li is offending various crypto investors and industry professionals with his foul words.
According to 8BTC, in the recording, Li revealed that Zhao Changpeng, Binance's founder 'is not a good guy' 'He used to have dirty deals with Xu MingXing (founder of OKEx)', 'He knows very little about technical issues.
Claiming Binance made its name because all the crypto exchanges had to shut down upon the crypto ban last September in China, but he insisted on keeping Binance operating only for his Canadian nationality.
Li called Binance 'a fraud exchange' adding that Justin Sun, founder of TRON, is a scammer.
“Very embarrassing,” says Li himself. “I swear a lot when speaking privately. I also like studying how to curse in various languages, for example, Americans can utter a sentence with all fuck words in a row: FUCK FUCKING FUCKER. I’d like to avoid those dirty words in public speaking, but in private, I don’t have to bother to please others.”
About Patrick Shuai, founder of QTUM, Li said: 'QTUM is an aircoin. It is me who helped him promote the project for six months. Because his scamming mode is simple. If he decided to develop dApps first, I might have given no care.'
According to Li, “Lao Mao was actually nobody; it is me who help him to be somebody in the crypto world.
Fans-flow is the core competition, blockchain founders should at least be internet celebrity. As long as those idiots believe in you, there will be consensus and what you need to do is to continue cheating them.
I opened my own blog in 2015, and Luo Zhenyu (senior media man in China) helped me sell my book and promote my blog. I made no money back then for the bear but accumulated lots of fans.
Those stupid investors panic about government’s policy, while actually, they are our umbrella. If not for that, we have no qualification to carry out crypto business.
What keeps you moving after achieving financial freedom is your willingness to let the No.1 feeling go. For example, there is a fraud exchange called Binance and a scammer called Justin Sun (Founder of TRON), how could you allow yourself to lag behind them! So I have to work harder and faster.
Response from Crypto Community
Li Xiaolai was one of the first and most successful Bitcoin adventurers in China. There have been tons of rumors about his experience in the Bitcoin world.
Other than that, he is also a best-seller author with books such as How to Master the Core Vocabulary of TOFEL in 21 days. Li's mean word has made the crypto world wrecking.
Binance co-founder He Yi responded,
“In a scammer’s eye, all others are scammers; in an idiot’s eye, all are idiots. Binance made its name by virtue of solid technology, products and users. We surely have a lot to be improved, but the claim that CZ is not a good guy is too far and lacking in evidence. The emergence of such incident indicates that the industry has entered a period of stagnation, and someone’s out there using this to get attention.”
Justin Sun, founder of TRON, jokingly said;
he was again innocently hit by a scandal. While comments upon it were quite brutal saying “everyone knows you are a scammer, Li’s right on it.”
Patrick Shuai, founder of Qtum, took it more seriously
arguing that Qtum is not an “air coin”, its mainnet has been launched in 2017 with more than 7,000 POS nodes in 56 countries.
Lao Mao, Big.one CEO, is more tolerant,
saying don’t take it too seriously as a private conversation, and there are indeed useful points in it if dirty words are removed, after all, Li is an investor.