The chaotic situation in the cryptocurrency world indeed needs to be rectified. Yesterday, a prominent figure mentioned at a conference that some recent meme coins have caused significant losses to Binance's insurance fund. In fact, the prevalence of various KOL issues also needs to be addressed. The cryptocurrency industry has long been plagued by such chaos, which will only lead to stricter bans and failures in the industry. Last night, seven associations in the country also just issued a warning announcement, and the next step will inevitably be a strong crackdown in response to policy measures. Those who recently violated regulations and exploited investors are likely to be losing sleep.