The current round of opening-up policies in Hainan inevitably brings to mind that past event. Do you remember 2018? A leading exchange built a landmark building in Hainan Free Trade Zone, almost adjacent to Baidu's office building at that time. The entire industry was buzzing, all believing that the country was about to open its doors to the digital asset industry. But what happened? Everything turned out to be an illusion.

Looking back after many years, the market landscape has completely changed. Now, the two main questions are: First, will this policy adjustment in Hainan shake Singapore's position as the blockchain hub of Asia? Many projects and funds have already taken root there; Second, does anyone remember the 2019 bull market? Are friends who bought the dip or held Bitcoin still holding it now? The choices made back then have long determined today's story.