"Benson Sun, the 'Class Deity,' Starts Again: Being a KOL, Now More Cautious"

Benson Sun, one of Taiwan's most influential Key Opinion Leaders (KOL), was a former community partner of the bankrupt exchange FTX. He faded from the community due to the downfall of FTX. On September 13th, Benson Sun made a comeback with a public statement of "starting over," sparking different evaluations within the community regarding KOL ecology.

"Benson Sun, Restart": Benson Sun Makes a Comeback

Benson Sun, once highly respected by the Taiwanese crypto community and dubbed as "Benson God," is back in the spotlight. Internet users have playfully referred to his comeback with the meme "Benson God, Restart." After nearly a year of silence, Benson Sun's recent public statement not only signifies his public accountability but also reflects the sentiments of many FTX victims returning to reality. Here are some key points from his statement:

• Benson Sun, a seasoned crypto investor, shared his success story of investing solely in FTX's FTT token, making his initial fortune.
• Founded in 2019, FTX quickly rose to become one of the top three exchanges in the industry. However, due to the greed and negligence of key executives, the platform collapsed, causing him to lose 96% of his net assets.
• The collapse of FTX had a profound impact on him, not only financially but also affecting his mental well-being. He attempted various methods to heal and gradually re-entered the trading market.
• During his time back home taking care of his father, who needed heart surgery, he deeply reflected on his investment strategies. He realized the importance of not being shackled by past failures and decided to redevelop his strategies and move forward.
• Being aware of his influence as a Key Opinion Leader (KOL), he now exercises greater caution and responsibility in his actions, understanding the significant impact they have on his followers.
• Lastly, Benson Sun expressed gratitude to those who supported him during tough times and hopes to achieve success in the investment market alongside them in the future.

Benson Sun's Comeback: Mixed Community Reactions

Benson Sun's statement received positive responses on his Telegram group and Twitter account, but there were also differing opinions:

Colin Wu, founder of the well-known blockchain media outlet "Wu Says," had disagreements with Benson Sun regarding support for FTX before its bankruptcy. After Benson Sun's comeback announcement, Wu commented that he was "playing the victim and showcasing trading skills."

Researcher Zhe'an criticized those who had failed in trading, then relied on selling strategies or exchange revenue sharing to bounce back. He believes truly skilled traders do not need to sell strategies as they would be funded by backers.

Investment commentator Freddy Business & Research bluntly stated: "I remembered this channel after Benson's comeback, and that's why I muted it around early 2022."

Interestingly, Taiwanese investor Woody, riding the Friend Tech trend, commented: "Benson's sudden rise within an hour has silenced both those who play FT and those who don't..." Benson Sun's comeback also had an impact on the price of Friend Tech's Keys.

KOLs Under Regulatory Scrutiny in Investment Advisory

Regulations on cryptocurrencies are becoming stricter worldwide. In France, Key Opinion Leaders (KOLs) in finance must obtain a "Financial Responsibility Influence Certificate" to provide investment advice and services. Countries like the US, UK, and Hong Kong have regulations on crypto investment promotion. By the end of September, Taiwan's Financial Supervisory Commission will issue guidelines that may also regulate advertising.

It is believed that there will be more regulations for crypto KOLs in the future to protect investors. Investors will be able to have a more rational view on the responsibilities and obligations of influential figures.

Measures in other countries:

The SEC declares cryptocurrency assets a priority for regulation; be cautious, crypto investment advisors and exchanges!

Attention in the UK on promoting cryptocurrencies! Unauthorized individuals or those not registered with the FCA may face criminal liability.

End of Referral Master? Rejecting the pyramid scheme culture in the crypto industry, the UK FCA will ban referral bonuses and anti-inflation arguments.

Interpreting the draft guidelines from Taiwan's Financial Supervisory Commission, will overseas entities no longer be able to advertise?