Core Viewpoint - The article discusses the life and career of Zhao Dong, a notable figure in the cryptocurrency industry, highlighting his rise, fall, and the impact of his actions on the market and community [3][9][12]. Group 1: Zhao Dong's Early Career - Zhao Dong, born in 1982 in rural Shanxi, graduated from Dalian Jiaotong University and initially struggled academically, which led him to learn software technology [3]. - He co-founded the weather app Moji Weather, which gained over 10 million users by 2011, marking his first significant entrepreneurial success [3][4]. - After leaving Moji Weather in 2012, Zhao Dong earned approximately 7 million RMB, which set the stage for his future ventures [4]. Group 2: Entry into Cryptocurrency - Zhao Dong entered the cryptocurrency space in 2013, purchasing his first Bitcoin for 400 RMB and quickly expanding his investments as Bitcoin prices surged [4][5]. - By the end of 2013, he held over 15,000 Bitcoins, valued at over 1 billion RMB at the time, showcasing his rapid wealth accumulation [5]. Group 3: Challenges and OTC Business - In 2014, Zhao Dong faced significant losses due to market crashes, losing over 1.5 billion RMB that year and accumulating substantial debt [5][9]. - He identified an opportunity in the OTC market, leveraging his network to facilitate trades and build a large OTC trading platform, which helped him recover financially [6][9]. Group 4: Legal Troubles and Imprisonment - Zhao Dong was arrested in July 2020, initially charged with illegal business operations, later facing charges of money laundering and illegal foreign exchange trading [9][10]. - He was sentenced to seven years in prison, marking a dramatic fall from his previous status as a leading figure in the OTC market [9][11]. Group 5: Current Status and Industry Context - Despite his imprisonment, Zhao Dong retains significant wealth through early investments in Tether and Bitcoin, indicating potential for future influence upon release [11]. - The cryptocurrency landscape has evolved, with regulatory changes in regions like the US and Hong Kong, leading to a more structured environment for cryptocurrency operations [12][14]. - The article reflects on the fortunes of other early cryptocurrency figures, noting that while some have thrived, others have faced significant challenges, emphasizing the unpredictable nature of the industry [11][12].