Liang Xi: A Journey Through Cryptocurrency
In the ever-fluctuating world of cryptocurrencies, Liang Xi, also known by his birth name Geng Zhiyu, has seen the peaks and valleys of trading fortunes. On April 9, he stunned the crypto community by revealing a staggering profit of 25.04 million RMB from a single day of trades in a WeChat group. However, this remarkable feat was quickly overshadowed by his subsequent losses. Just a day later, records showed that his aggressive high-leverage trading strategy led to a significant loss on a BTC 50x short position, amounting to roughly 12.5 million RMB. This stark drop was emblematic of Liang’s trading style, characterized by rapid fluctuations and high-risk gambles that he often likens to the playful yet precarious nature of spending small amounts of money willingly, as if they were just “happy beans.”
Early Life and Rise to Fame
Liang’s journey is colorful and marked by early achievements; he was recognized as a talented swimmer at a young age but ultimately faced personal struggles including addiction to video games, which led to a stint in an internet addiction rehabilitation school. Despite these challenges, he transformed from an ordinary youth in Shandong into a polarizing figure in the cryptocurrency sphere, known for his dramatic trading approach and penchant for high leverage, emotional trading, and marketing theatrics. His early success particularly blossomed during a time when many retail investors had limited tools to navigate the cryptocurrency markets, forcing them towards riskier trading options like contracts.
The Prodigy and Downfall
The catalyst for Liang Xi’s fame was an event in May 2021, referred to by many as the “519 incident.” Armed with merely 1,000 yuan from his father’s bank card, he leveraged short positions on Bitcoin at a staggering 100x, executing rapid trades at a relentless pace. Remarkably, he expanded his capital to tens of millions within a month, earning him the nickname “The Contract God of War.” In a mere flash of brilliance, Liang was lauded as a prodigy, showcasing what seemed to be the extraordinary potential for instant riches within the cryptocurrency universe.
However, such meteoric rises often come with equally dramatic downfalls. Following a series of poor judgments in late 2021, his assets plummeted from over 40 million yuan to an overwhelming debt of millions. Despite this humiliation, Liang remained a constant figure on social media, revealing his ongoing financial struggles and making news with bold claims about his returns to trading. In July 2023, he revealed over 130 million yuan in debt. Just a year later, he was sentenced to two years in prison for a separate fraud scandal.
Resilience and Community Engagement
Despite the economic ruins around him, Liang’s trading spirit seemed undeterred. His attempts to emerge from debt included a streak of audacious trades in early 2025, which brought him back into the spotlight. Remarkably, in a downturn marked by Bitcoin’s drop to $86,000, he succeeded in reverse trading strategies that brought him staggering profits, defying market expectations. His philosophy remains anchored in the belief that one successful bet can lead to a monumental recovery, leading many to label him as both a genius and a gambler chasing lost fortune.
Contrasting his financial antics, Liang often showcases a generous side, claiming to support individuals in need with charity donations and other financial assistance, despite the turmoil of his economic environment. He continues to engage fans and followers through initiatives that bolster community support, functioning as both a trader and a self-styled social figure keenly aware of media narratives.
A Cautionary Tale
The saga of Liang Xi is a vivid reflection of the chaotic landscape of early cryptocurrency trading, where rapid wealth accumulation can quickly turn into devastating losses, and where the modern-day trader must navigate a challenging ecosystem rife with volatility. His experiences serve as a cautionary tale about the often deceptive allure of quick wealth and the harsh realities of the speculative nature of the cryptocurrency market.
