The Inevitable Fall of Crypto: A Solzhenitsyn Warning

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Yang Haipo, founder of CoinEx, proclaimed that the cryptocurrency industry is hurtling toward an “inevitable endgame.” He insists that Bitcoin’s trillion-dollar fantasy will eventually crumble, leaving behind a trail of shattered dreams and empty wallets. A man of such certainty, one might wonder if he’s been sipping from the same cup of nihilism as the rest of us.

While the masses still cling to the hope of eternal growth, others begin to question-though, of course, no proof is required when the prophet speaks. After all, who needs evidence when the gods of finance whisper in your ear?

The Insider’s Whisper: A Cautionary Tale

When a random critic denounces Bitcoin, they are dismissed as a madman. But when a founder of CoinEX and ViaBTC speaks, the world leans in, ears twitching. Yang Haipo, a man who knows the system from the inside, warns that the crypto market is nearing a tipping point-where its fragile facade can no longer hold.

In his grim analysis, he reveals that the crypto world thrives not on real value, but on the endless flow of new money. A system where the only real income is the hope of the next buyer. How poetic.

Due to this, the industry burns through billions annually on mining, exchanges, and development, while real income from actual users remains a meager trickle. A gap so wide it could swallow a small nation-and yet, here we are, dancing on the edge.

Yang Haipo: Cryptocurrency is Heading Towards an Inevitable Endgame

Yang Haipo, founder of CoinEX and ViaBTC, published an article expressing despair about the industry, stating that:

Bitcoin’s dramatic collapse from its current trillion-dollar market capitalization is…

– Wu Blockchain (@WuBlockchain) April 23, 2026

Bitcoin: The Ghost of Speculative Fever

Yang’s first revelation: Bitcoin, that digital albatross, produces no value. It does not generate profits, nor is it used for daily transactions. Its price is a mirage, sustained only by the collective delusion of its followers. A system that requires electricity, internet, and miners to survive-yet offers nothing in return but the promise of a better tomorrow.

Another flaw? The very design of Bitcoin. Mining rewards dwindle over time, forcing the network to rely on transaction fees. But who, in their right mind, would pay to use a system that exists solely to inflate its own value? A paradox wrapped in a riddle, served with a side of existential dread.

The Industry’s Insatiable Appetite

Running this grand experiment costs a fortune. Mining alone devours $10 billion to $15 billion yearly. Exchanges spend another $15 billion to $25 billion on staff, servers, and legal fees. And what do they earn? A few hundred million from actual users-less than 1% of what they squander. A system where the only real income is the hope of the next buyer. How romantic.

The gap between what crypto earns and what it spends is so vast, it could swallow the moon. Yet, here we are, clinging to the hope that someone, somewhere, will throw fresh money into the void.

ETFs and Institutions: A Temporary Reprieve

The recent bull run, fueled by institutional inflows and Bitcoin ETFs, was hailed as proof of mainstream acceptance. But Yang sees this as a fleeting illusion. Once the tide turns, the market will struggle to maintain its size. A cycle as old as time: panic, crash, repeat.

Every crash has been followed by a new wave of buyers, but Yang calls these recoveries “luck,” not strength. A system built on the hope that the next buyer will come, even as the current one flees.

The Clock Ticks: How Much Time Remains?

Yang’s calculations are bleak. The crypto system has $200 billion in usable funds, but it burns through $60 billion to $80 billion yearly. At this rate, the system has two and a half to three years before collapse. A mere blink in the grand scheme of things.

But bear markets accelerate the clock. In 2022, $65 billion vanished in a year. Imagine that happening from a weaker base. The endgame is not a distant dream-it is a countdown, ticking louder with each passing day.

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2026-04-23 17:08