【Chain News】Crowned as the "No.1 Domestic GPU Stock", Moore Threads landed on the STAR Market on December 5th, soaring 468.78% at the open, skyrocketing from the issue price of 114.28 yuan to 650 yuan, with total market value instantly surpassing 300 billion yuan. A-share investors celebrated wildly, with a single allotment earning a net profit of 267,000 yuan, E Fund making a floating profit of nearly 1.9 billion, and early investors like Tencent and ByteDance earning returns over 35 times; a company named Peixian Qianyao even achieved a staggering 6,200-fold return.
But behind this glamour, co-founder Li Feng's dark history in the crypto circle was exposed.
Back in 2017, Li Feng teamed up with crypto bigwigs like Li Xiaolai and Xue Manzi to launch a project called "Malegebi Coin" (MGD), raising 5,000 ETH under the banner of "the first blockchain performance art in human history". The white paper was full of grand claims—a luxury team of CEO, CTO, CFO, PhDs, returnees, and investment banking elites, and the token