A secret recording of Li Xiaolai the biggest Chinese bitcoin Tycoon has emerged yesterday on Chinese social media. In a recording, Li is offending various crypto investors and industry professionals as cheaters and scammers.
Li Xiaolai s a venture capitalist from Beijing China. In the middle of 2013, he founded BitFund and started at around $3.5 Million, BitFund is now one of the most influential Venture Capital firms related to crypto-currency in China. He has an estimated net worth exceeding 3.5 Billion USD which can be attributed to his VC work at Bitfund. He is also one of the first Public figures in the Chinese crypto scene to come public about his involvement in the crypto community in China.
In the recording, LI Xiao lai outed many industry outsiders and Scammers and Frauds.
On Zhao Changpeng, founder of Binance, Li said he ‘is not a good guy’. he used to have confliction with Xu MingXing(founder of OKEX). He knows very little about technical issues.
Binance made its name because all the crypto exchanges had to shut down during the September.4th for crypto ban policy in China, but he insisted on keeping Binance opening as usual for his Canadian nationality.
Li called Binance ‘a fraud exchange’ and added that Justin Sun, founder of TRON, is a scammer.
On Patrick Shuai, founder of QTUM, Li said: Qtum Garbage coin, it was me who helped him to promote Qtum for 6 months. Because his scamming method is very simple – If he decided to develop DAPP first, I should have asked him to go out until you brought the finished product to me.
Li continued on NEO, the China-based blockchain platform: NEO is also a stupid project, worthless; if you were Wang Lijie(famous angel investor in China), you will have sold them at 1.5 RMB either. but why its price went up so high, just because some big venture capital participated in it and hyped its price. Even Da Hongfei (founder of NEO) is holding very little NEO.
In a post on Weibo, Li Xiaolai didn’t seem to regret his actions, although he was ’embarrassed’ because of the language he used.