First of all, congratulations to HashKey for successfully going public on the Hong Kong stock market. Taking advantage of the popularity, let's talk about three small things related to HashKey. Firstly, what does compliance feel like? A few days ago, a friend's withdrawal was frozen and he was a bit envious. He said, 'Are you ignoring it while you're abroad?'? It is and it isn't. Indeed, foreign police are not as sensitive to encryption as in mainland China, but banks are very sensitive to encryption. The bank is about to close your account, and the underlying message is, "As a high-risk customer, our bank would rather not serve you How to put it, it's a bit stronger than freezing your card. I'll give you a window to withdraw the money, and if you don't withdraw it, I'll send you a check, which will also be closed for you. However, if you suddenly lose your card overseas, it can still be quite troublesome. So, legally it is possible to withdraw money casually, but in practice it is not advisable to withdraw it casually. At this point, HashKey OTC appeared (which is also the HashKey product I use the most). Because HashKey also has a license in Singapore, withdrawal is compliant, which can explain to the bank. Their OTC registration requires a lot of procedures, and it took several weeks to open an account, making people feel numb. But after opening the account, it's very simple. Hundreds of thousands of funds can be disbursed immediately, and the fees are also particularly low. The fiat currency is directly withdrawn from the Standard Chartered bank account, which is already considered a very legitimate fund in the eyes of overseas banks. So the feeling of compliance is amazing, there's no longer that sense of being a thief. Secondly, the issue of national borders. Previously, I also scoffed at HashKey's user base, believing that Hong Kong alone could not support such a large group. After studying it later, I found that it's not like that. In theory, HashKey can be registered except for Americans and sanctioned countries. But at the same time, it is necessary to comply with the local policies of each country, such as the requirement for the Japan Financial Services Agency to have a Japanese license. Tell me more about Singapore and Malaysia. There is a particularly fun one called the anti solicitation principle. Singaporeans and Malaysians can legally register HashKey in compliance, but both places have a set of anti solicitation principles. The so-called anti solicitation means that they do not allow HashKey Hong Kong to advertise in the Singapore Malaysia region. However, if the user finds the HashKey and registers along the network cable, it is also legal and compliant. Finally, there are mainland Chinese. Although Dr. Xiao dreams of the mainland opening up encryption, the possibility in the short term is extremely low. However, HashKey also leaves a loophole, which is that mainland Chinese living abroad (excluding the United States) can also register HashKey. In addition, HashKey may also place its hopes on securities firms. Companies like Futu Hong Kong can now engage in cryptocurrency trading, with HashKey serving as the underlying liquidity provider. Similarly, Shengli Securities and Changqiao Securities are also using similar channels. So, at first glance, there is still a base. Thirdly, birds of a feather flock together. This HashKey listing is sponsored by JPMorgan Chase and Guotai Junan; UBS (Singapore) and Fidelity have subscribed to cornerstone investor shares. Cornerstone investors are usually based on the IPO price, which can be considered as a real endorsement of gold and silver. It is rare for these institutions' brands to come out and endorse cryptocurrency companies. But as the saying goes, birds of a feather flock together, and HashKey spent so much money (even to the point of financial losses) on compliance before, it can still be used at critical moments. According to the information disclosed and organized by Ryan Capital, Fidelity acquired nearly 2.9%, making it the largest shareholder after Mr. Lu and Mr. Xiao. Crypto institutions have relatively few investments in HashKey, but they have also seen Xu Mingxing's OKG capital invest 0.31%. Finally, I wish HashKey @ HashKeyGroup all the best and a long journey ahead.