Fluke

[#CryptoThaiCommunity @SChinnapas]

🌐 Inside BitMart: From Chinese Leadership and Global Capital to Withdrawal Red Flags and the Final Chapter

Recent shifts in the digital asset landscape serve as a stark reminder: "The crypto market does not exist in isolation from global financial machinery." Examining the trajectory of BitMart under the leadership of Sheldon Xia offers a vital case study—revealing the interplay between Chinese executive leadership, backing from heavyweight institutional venture capital, and the liquidity bottlenecks inherent to Centralized Exchanges (CEXs).

👨‍💼 1. Key Executive Leadership
Sheldon Xia (Founder & Group President)

Background & Role: Founded BitMart in 2017/2018 and served as Global CEO for seven years before transitioning to Group President in April 2025.

Global Recognition (Forbes): Prominently featured by Forbe in a leadership spotlight, Xia was recognized as a prominent young executive who scaled BitMart from an early-stage startup into a global exchange serving over 10 million users worldwide—highlighting his vision for product innovation and crisis management following BitMart's 2021 hot wallet security breach.

Academic Foundation: Holds a Master’s degree in Computer Science from Stevens Institute of Technology and an MBA from Columbia Business School, combining deep technical capabilities in financial software development with international asset management expertise.

Role Ahead of Closure: As the primary decision-maker at the parent company, he spearheaded the organizational restructuring and set the timeline for the platform’s orderly shutdown.

Nenter (Nathan) Chow (Global CEO)
Role: Succeeded Sheldon Xia as Global CEO in April 2025.
Role Ahead of Closure: Oversaw day-to-day operations, managed institutional client relations, and coordinated regulatory compliance efforts during the platform's transition phase.

🏦 2. Institutional Capital & Key VC Backers
Alexander Capital Ventures (ACV)
Role:A U.S.-based venture capital firm focusing on high-growth technology ventures.

Connection to BitMart: Acted as the Lead Investor in BitMart’s Series B funding round in late 2021—a pivotal deal negotiated under Xia's tenure.

Investor Significance: ACV’s entry pushed BitMart’s valuation past $300 million. This institutional capital provided critical liquidity, credibility, and operational runway following the 2021 security incident, supporting the exchange prior to its eventual wind-down

Fenbushi Capital
Role: One of Asia’s earliest and most influential blockchain venture capital firms.
Connection to BitMart: Served as an early investor and strategic partner, providing crucial infrastructure support, regional project deal flow, and access to Asian capital networks.

Cipholio Ventures
Role: A global venture fund targeting early-stage Web3, DeFi, and core blockchain infrastructure.

Connection to BitMart & Sheldon Xia: Co-founded by Sheldon Xia as Founding Partner in 2021, serving as an investment arm within the broader BitMart ecosystem. Despite BitMart's exchange phase-out, Cipholio continues its primary mission of managing Web3 portfolio investments globally

🏛️ 3. The Power of Chinese Entrepreneurs in Global Financial Systems
Chinese crypto founders have historically played a foundational role in constructing the liquidity architecture** for both Asian and global digital asset markets.
Capital Bridge Strategy: Securing early-stage deal flows through Asian funds like Fenbushi Capital and leveraging that momentum to attract tier-one Western capital like Alexander Capital Ventures (ACV) became a blueprint for rapid international expansion.

Structural Pressures: Despite rapid growth, mid-sized centralized exchanges have increasingly faced regulatory tightening across Western jurisdictions alongside broader liquidity drains, putting mounting pressure on operational sustainability

@sheldonbitmart @NenterChow @BitMartExchange @Cipholio @ACV_US @WOO_ecosystem @WOOX_global

1/2

[#CryptoThaiCommunity @SChinnapas]

@Beam_Lightnet เรียนพี่บีม

ทาง Lightnet ได้เข้าร่วมทดสอบ Sandbox ในภูเก็ตหรือไม่ ?

ข่าวล่าสุด
ก.ล.ต. ไฟเขียว SCB 10X ร่วม Digital Asset Regulatory Sandbox ทดสอบการให้บริการนำคริปโทเคอร์เรนซีมาแลกเปลี่ยนเพื่อการใช้จ่ายในประเทศสำหรับนักท่องเที่ยวต่างชาติ (Tourist Wallet)

ชุมชนอยากทราบความคืบหน้าของโครงการ #Veloprotocol กับโครงการนี้

หวังว่าทาง @Beam_Lightnet
จะให้ความเห็น และรายละเอียดเพิ่มเติม
กับชุมชน #Velorians #veloprotocol

ขอแสดงความนับถือ
#เพจลงทุนเป็น

[Senator Cynthia Lummis @SenLummis]

The Senate Banking digital asset subcommittee will:
✔️ Pass legislation promoting responsible innovation and consumer protection
✔️ Eradicate Operation Chokepoint 2.0
✔️ Make America the bitcoin and digital asset capital of the world

[#CryptoThaiCommunity @SChinnapas]

คุณ @zGuz post แล้วแท็กคลิปนี้เขากล่าวว่า
นี่เป็นข้อความ "ฉันไม่ได้ฆ่าตัวตาย" ที่ได้รับแรงบันดาลใจจาก @elonmusk
ในกรณีที่ฉันจะต้องตายในอีกไม่กี่สัปดาห์ข้างหน้า 😅

This is an obligatory @elonmusk-inspired "I did not suicide myself" note in case I wind up dead in a few weeks 😅

คุณ Zack เปลี่ยนชีวิตจากนักข่าวเข้าสู่โลก Crypto จากแรงบันดาลจาก Elon musk ในด้านวิทยาศาสตร์และเทคโนโลยี

post ของ คุณ Zack อาจชี้ชัดว่าการที่เขาเปิดเผยข้อมูลจากการสัมภาษณ์ Do Kwon ยืนยันได้ว่า Terra UST ถูกโจมตี ไม่ใช่การฉ้อโกง

เคยมีกรณีนี้ประเทศไทยเราเหตุการเงินบาทล่มในปี 2540 คนไทยด่าว่ารัฐบาลโกง โกรธรัฐบาล แต่ความจริงเงินบาทของเราถูกทำลายจากทุนสหรัฐอเมริกา

ทรัมป์มาเรื่องราวจะสนุกมาก
ขอบคุณ @zGuz

#เพจลงทุนเป็น
#LUNCcommunity
#LUNCcommunity
#LUNC #USTC

[#CryptoThaiCommunity @SChinnapas]

🇺🇸 News story: It has been revealed that the FDIC has sent 25 letters in 2022-2023 informing banks. Stop developing #Bitcoin banking products such as:

- Trading and care
- #Bitcoin-backed loans
- Cashback rewards from #Bitcoin
- Payment card linked to "Bitcoin

Finally, it's true, the Federal Reserve Group is a group intent on destroying the industry #Cryptocurrency

The world is no longer mysterious with X Platfrom Free Speech

Source: Reuters

#เพจลงทุนเป็น
#CryptoThaiCommunity
#CryptoNews
#CryptoCommunity
#CryptoMarket
#LUNC #USTC #LUNA $XRP #X #XLM #Veloprotocol #Velo #floki #shib #Aitech #DMTR

[#CryptoThaiCommunity @SChinnapas]

The most important reason to invest in #Veloprotocol is because it's the only Thai cryptocurrency that carries the term "Digital Economy."

This represents a new economic model driven by digital technology in the online world, where technology is utilized to enhance efficiency and add value to various economic activities, including production, transportation, sales, services, and financial banking systems.

No other Thai cryptocurrencies have this.

#veloprotocol #velo

#เพจลงทุนเป็น
#Investwisely
#veloprotocol #velo #RippleAsia
@Beam_Lightnet
@veloprotocol

Investing involves risks; investors must consider their investment with knowledge, understanding, and readiness.

Investors must conduct thorough research and due diligence (DYOR) and make investment decisions based on their understanding and a suitable personal investment plan.

[#CryptoThaiCommunity @SChinnapas]

Do Kwon never admitted to fraud regarding the TerraLUNA collapse. He openly explained in a brief message on X on November 16, 2022, and in an interview with @zGuz Gzuman:

"For me, I'm pretty confident, having worked in finance and investment in the capital market all along, that the #Terra LUNA collapse was due to an attack, not fraud. Because fraud would be done slowly and quietly, but the TerraLUNA incident was a clear, fast, result-oriented operation, and they succeeded.

What was the reason for the attack?
"An interesting point is his confidence in replacing traditional banking with Crypto." And it seemed he was doing so well that it was a concern that the traditional financial system might collapse.

There's enough reason, and this theory clearly shows that the #Crypto industry should be destroyed. The events from 2023-2024 show heavy attacks on the industry to eliminate @binance from the capital market, including the arrest of @cz_binance and many other events. It's evident they want to destroy it. Even Jamie Dimon, CEO of JP Morgan, clearly stated to Congress that if he had the power, he would make Bitcoin and Crypto disappear from the US within a week.

Back to the observations regarding the legal proceedings between Terra From Labs and the SEC:

The proceedings were scoped to civil and criminal matters, not focusing on executives in a way that aimed to arrest them. At that time, Do Kwon requested to go to court, but the Montenegrin government refused to extradite him, citing unclear national responsibilities. After the trial, it seemed to be over.

However, later on, the DOJ requested Do Kwon for prosecution. Now, Do Kwon appears in court as a defendant. Why was this done after the SEC trial? Especially since Do Kwon had previously asked to be extradited to the US, but there was no extradition.

This case has clear forensic evidence, but there's ambiguity in the US legal proceedings.

In the US, there are many things that are not straightforward, from international politics to domestic politics, like what's happening with Donald Trump currently.

For this mysterious case, no matter what Do Kwon's fate ultimately is,

#LUNC will continue to exist and grow beautifully because the world has shifted towards the Digital Assets era.

I'm waiting for the Donald Trump team because the world will become more beautiful.

#Investwisely
#LUNC #LUNCcommunity

[#CryptoThaiCommunity @SChinnapas]

Here are the advantages of the Terra Luna Classic (#LUNC) Blockchain:

Token Burn Mechanism: #LUNC features an ongoing token burn mechanism which reduces the circulating supply. This can potentially increase the price of LUNC over time. The burn is supported by platforms like Binance, adding credibility to the system.

Transaction Speed: #LUNC offers fast transaction processing with low fees, making it suitable for applications on platforms like X that require speed and cost-efficiency.

Decentralization: The #LUNC blockchain is considered one of the most decentralized among Proof-of-Stake systems. This high level of decentralization is a key factor in fostering community trust in the system's operations.

Digital Asset Support: #LUNC isn't just for transactions; it can be used to create other digital assets like stablecoins or for use in NFTs and gaming.

Strong Community: The #LUNC community is robust with high engagement. Governance votes can be passed in just a few hours, reflecting quick and efficient decision-making.

Environmental Sustainability: With the use of Proof-of-Stake instead of Proof-of-Work, #LUNC is viewed as a more environmentally friendly option since it consumes less energy to secure the network.

In summary, the advantages of the #LUNC Blockchain include its decentralization, transaction speed, versatility in use cases, and the backing of a strong, active community that supports future development and adoption.

#LUNC $LUNC #LUNCcommunity #LUNC1DOLLAR

[Derek @kimmyboy2]

I believe that a huge revolution will come soon. LUNC already has a technical base that can process payments made on the X platform faster and cheaper than any other coin, and even considering the significant increase in the number of
In addition, USTC's dollar-based algorithm as well as the algorithmic system of stablecoins around the world are linked to LUNC, making it ideal for maintaining the security of the distributed ledger to be implemented on the Here's the solution.
USTC re-peg is a problem that can be solved simply and easily with an agreement between Binance, which will provide liquidity, and X, who will use it.
In the crypto market, there is probably no coin that currently exists that would provide a more ideal solution than #LUNC and #USTC .

[🎯 Crypto Gems Sniper 🎯 @BscGemSniper]

#LUNC is the future leader of the altseason!

[#CryptoThaiCommunity @SChinnapas]

@cz_binance #LUNC is Best Blockchain Layer1 ans Good Community , We are waiting for you Boss.

#LUNCcommunity please Report support Bigboss @cz_binance

#lunc #USTC #LUNC

[#CryptoThaiCommunity @SChinnapas]

Coinbase will be List #LUNC Soon

@brian_armstrong
@CoinbaseExch

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: 🇨🇳 Chinese court says that #Bitcoin and crypto are property, so holding them is legal.

[BITCOINLFG® @bitcoinlfgo]

BIG BREAKING 🚨

CHINA'S SHANGAI COURT MADE #BITCOIN & CRYPTO LEGAL .

[#CryptoThaiCommunity @SChinnapas]

If you want #LUNC listed on Coinbase, please help show community power

Report to @coinbase @brian_armstrong

#LUNCcommunity #LUNC #luncarmy