China scandal: crypto billionaire bashes Binance, NEO and QTUM in leaked recording

05 Jul, 2018
by Jelmer van der Dussen
China scandal: crypto billionaire bashes Binance, NEO and QTUM in leaked recording

Chinese Bitcoin billionaire Li Xiaolai is at the center of a scandal in the Chinese cryptocurrency space. In a recording that was leaked on Wednesday, Li is offending various crypto investors and industry professionals. The language he uses has caused quite a stir in China. 

On Zhao Changpeng, founder of Binance, Li said he 'is not a good guy'. 'He used to have dirty deals with Xu MingXing (founder of OKEx)', Li revealed in the recording according to 8BTC. 'He knows very little about technical issues. 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' and added that Justin Sun, founder of TRON, is a scammer.

On 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.'

Li continued on NEO, the China-based blockchain platform: 'NEO is a stupid project, worthless. If you were Wang Lijie (angel investor of NEO), you would have sold them at 1.5 RMB as he did. Later some big venture capital participated 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. 'Very embarrassing. 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.'

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