On the afternoon of April 9, Liang Xi posted his account record of a single-day profit of 25.04 million RMB in a WeChat group, which once again caused a sensation in the cryptocurrency circle. On April 10, the transaction record of Liang Xi’s account showed that his BTC 50x short position lost another 1.71 million US dollars, equivalent to about 12.5 million RMB, which was half of the profit of the previous day. And this ups and downs trading style is exactly Liang Xi’s most eye-catching feature - RMB is like happy beans, and you can get it back even if you spend all your money.
Liang Xi, whose real name is Geng Zhiyu, became a national quasi-first-class swimmer at the age of 10, won the Hebei Provincial Championship of King of Glory at the age of 15, and was sent to an Internet addiction treatment school by his father at the age of 17 because of his addiction to games. He went from an ordinary young man in a small town in Shandong to one of the most controversial KOLs in the cryptocurrency circle. His every move is full of drama. High leverage, gimmick creation, social marketing, emotional trading... These labels almost constitute his investment style and personality traits, and also make his ups and downs in the cryptocurrency circle comparable to a roller coaster.
Leverage Maniac: The Gamblers Mentality of Extreme Courage
In the early days of the cryptocurrency world, there was a lack of mature financial tools. If retail investors wanted to turn things around quickly, they could only bet on contract trading. At that time, exchanges had not yet introduced a variety of financial management, staking or DeFi gameplay. Contracts were the only gambling table for retail investors to achieve class leaps. They generally relied on high-leverage trading to get rich overnight. Liang Xi was a typical representative of this phenomenon.
What made Liang Xi famous was the 519 incident in 2021.
In May 2021, Liang Xi used only 1,000 yuan of principal in his fathers bank card to short Bitcoin with 100 times leverage, using short-term operations and rolling positions with quick in and out, operating once every 5 minutes on average, and trading 1,454 times a week. Within a month, he doubled his funds to tens of millions of yuan. At his peak, his assets were said to exceed 40 million yuan. He became a god in one battle and was dubbed Contract God of War and Coin Circle Genius.
Image source: Internet, allegedly a screenshot of Liang Xis account balance after 519
After becoming famous, he posted photos of luxury cars (allegedly Lamborghinis), luxury goods, and transaction screenshots on Weibo, and even disclosed his bank card balance, trying to prove his success. He once posted that I was worth over 100 million at the age of 19, which attracted a lot of attention, but also attracted doubts. This explosive growth in wealth is inseparable from his extreme trading methods: high leverage, short-term aggressiveness, and the courage to gamble. He has publicly stated on many occasions that he is used to using 100 times leverage, and only gambling can give him a chance, and he even bets his entire fortune.
Image source: Weibo
However, the myths of the cryptocurrency circle often have two sides. Liang Xis high leverage operation brought him sweetness during his peak period, but also caused him to quickly fall from the altar amid the changing market situation. In the second half of 2021, Bitcoin rebounded, and Liang Xi continued to use high leverage (100 times) strategies, but misjudgment led to a liquidation. His assets quickly shrank from more than 40 million yuan at his peak to huge losses, and even millions of debts. He quickly fell from the altar of genius trader to the topic of deeply in debt in the circle.
Although he is still active on the Internet through various abstract behaviors, Liang Xi has been entangled in huge debts for a long time, and has been chased and avoided debts every day. On July 6, 2023, Liang Xi posted a dynamic on Coin, saying that he is currently in debt of 130 million; on June 19, 2024, Weibo big V Xiaoxia announced that Liang Xi was sentenced to two years in prison for defrauding 10,000 U. On the China Enforcement Information Disclosure Network, you can find public information that Liang Xi was forcibly executed by the Lixia District Peoples Court of Jinan City in November 2024.
Image source: China Enforcement Information Disclosure Network
But even so, he still did not give up his gamblers faith and continued to increase his positions frantically even though he was in debt.
The turning point of the story happened in 2025. On February 24, 2025, Bitcoin plummeted to $86,000, and 400,000 people in the entire network were liquidated. Liang Xi used 2,000 U to operate ETH in both directions through 50-100 times leverage, and traded at high frequency in a wide range of fluctuations, first shorting and then longing, with a single-day profit of more than 1 million U, shocking the market in one fell swoop; on March 10, 2025, in the volatile market of Bitcoin at $89,000, Liang Xi once again used 2,000 U principal to open 100 times leverage, seized the short-term activity, and made a profit of 8 million US dollars overnight, triggering a wave of Return of Liang Shen on social media.
His logic is simple: as long as he bets right once, he can make a comeback. Liang Xis leverage philosophy has made him one of the most legendary traders in the cryptocurrency circle. He has won huge wealth due to high leverage, and has also been imprisoned due to gambling debts. Long-term stress and excessive excitement have also made his mental state increasingly unstable. To bystanders, Liang Xi is like a desperate lunatic, a red-eyed gambler who walks between genius and madman, playing an extreme game of human nature and price in the market.
Gimmick Master: The Marketing Genius of Cryptocurrency Circle
The early cryptocurrency rights protection ecology was extremely barbaric, with frequent exchanges running away and project parties cutting leeks. However, there was a lack of legal supervision, and after retail investors complained to no avail, they could only attract attention with extreme behavior. Liang Xis drinking pesticides to commit suicide live in 2023 was not the first of its kind, but an absurd continuation of the DDV rights protection incident in 2018. That year, investor Yang Chao lost more than 11 million yuan on OKCoin and OKex, and rushed to the exchange headquarters with DDV to defend his rights against Xu Mingxing, which caused a sensation on the entire network.
Liang Xi is well aware of this. Creating gimmicks is his secret to maintaining popularity. He uses hot topics, seeks novelties, and does charity. In essence, he fights for the right to speak through self-destructive marketing. This life for traffic rights protection logic is also the helpless resistance of early retail investors under systemic oppression.
Riding on the trend, Crypto Spring Festival Gala Space wins the attention of founders
On the evening of October 17, 2022, Tron founder Justin Sun and Huobi co-founder Du Jun joined Liang Xis Twitter Space live broadcast and announced that they would each provide Liang Xi with $50,000 in trading funds unconditionally, allowing him to open orders on Huobi Live Contracts. Although the $100,000 in funds returned to zero soon after, this Space attracted a large number of users, with more than 9,000 people online at the same time, setting a record for Chinese crypto Twitter and ranking first in Twitters global real-time Space rankings. Justin Sun praised Liang Xi: Liang Xi symbolizes the spirit of our currency circle to become more and more courageous, and represents the will of our currency circle people to be defeated but not defeated. It has unique significance for sticking to dreams in todays bear market.
Seeking novelty, the DDV mental patient in the cryptocurrency circle
Liang Xi has made radical remarks and bizarre pictures on public platforms many times. On July 6, 2023, Liang Xi posted a dynamic on Coincoin saying that he was in debt of 130 million yuan, and also claimed that he would make a big news in the kindergarten, intending to take advantage of the popularity of the random injury incident in the kindergarten in Lianjiang, Guangdong, showing a kind of madness that does not care about human life. According to Xiaoxia Life, Liang Xi has been taken away for detention because of this statement.
On September 6, 2023, Liang Xi announced on Weibo that he was going to commit suicide by drinking pesticides. He posted a small accusatory essay on social media, saying that he had no way out, and if he didnt drink the medicine, heaven would strike with five thunders. He was forced to go to the end of his road today because of Chen Zhichao (A Chao)s out-of-context rumors and slander. He will immediately sort out the evidence that Chen Zhichao framed him. At the same time, he also posted a video on the social network. His mental state in the video was obviously very unstable. After apologizing to those who supported him, he took out a bottle of dichlorvos and drank it to try to commit suicide, and then the video ended. This extreme move set off a huge storm on the Internet. Countless articles like Genius trader fell to the miserable situation of drinking pesticides swarmed out, and Liang Xis popularity was pushed to a high point again.
On March 13, 2025, Liang Xi publicly announced on Twitter that he had taken transgender drugs and said that he vomited continuously but could not undergo surgery. Combined with Liang Xis previous tweets, the reason he gave was that he had suffered a deep emotional injury before and was unwilling to have feelings for girls again, so he wanted to completely cut off this thought through sex reassignment and concentrate on cryptocurrency trading. Due to traffic restrictions, the tweet has been deleted.
As expected, this abrupt statement and crazy move instantly set off a storm on social media, with discussions about his gender flying everywhere. Whether he really did it out of commemoration of love or to attract attention, this move did indeed put him at the forefront of the cryptocurrency circle again.
Liang Xi is well versed in the rules of the traffic game. He is not only a trader, but also a marketing expert who is good at creating topics. He became famous in 2021 and quickly became popular. His Twitter live broadcast set a record in the Chinese crypto circle. He was entangled in debt disputes but turned around to expose the dark side of the circle. He committed suicide, drank pesticides, and changed his sex. He was called a crazy but genius trader by the media. Every step he took was in line with the rhythm of traffic.
Do charity and bring happiness to the poor around you
The other side of Liang Xi that is full of contrast is that he is willing to help people in need after he has money. On March 10, 25, a netizen publicly asked for help on Twitter, hoping that someone could help his wife who had a rare cancer. Liang Xi immediately forwarded it and expressed his willingness to provide financial assistance after seeing it. After verifying the facts, he took out 50,000 US dollars (equivalent to about 400,000 RMB) to reimburse the netizens medical expenses plus financial compensation. On March 15, Liang Xi posted a follow-up video, in which he said, Its not just a subsidy of 400,000 yuan. I will be responsible for all subsequent domestic medical expenses. In addition, if his lovers condition improves, I will help them travel to the Maldives or other tourist countries, and I will reimburse them in full!
When some people questioned whether this was a script, the person who received the funding came forward and said that Liang Xi had indeed funded him with 400,000 RMB, and all the funds had arrived on March 15.
Although there may be a hype mentality in publicizing his charity work, and there is also a small thought of wanting to gain fame in his indignant essay saying that he has finally turned over and finally slapped the face of those who once looked down on him, but a gentleman is judged by deeds rather than intentions. On April 9, Liang Xi donated 36,000 yuan to a disabled fan. He has publicly stated many times that his family was in financial difficulties when he was a child, so he can better understand the difficulties of the poor. Now that he has made money, he is willing to help people who are really in difficulty.
Marketing master: From retail idol to controversial figure
Although the cryptocurrency circle has undergone continuous transformation and upgrading in the process of development, gradually getting rid of its early grassroots temperament, its essence has not changed and it is still the most realistic arena.
During the boom in the cryptocurrency world in 2021, Liang Xi established his own fan group, calling them Liang Family, creating a family-like sense of belonging. In order to maintain the popularity of the community, he not only interacted frequently, but also gave out red envelopes to fans many times, and even continued to give gifts when he suffered serious trading losses. This generous image made his fans extremely sticky.
After losing hundreds of millions of yuan due to high leverage, he did not disappear, but generously admitted his failure, and even mocked himself as the worst trader on the entire network during the live broadcast, successfully winning sympathy points. He also often posts his market forecasts and trading positions on social media, showing them in a high-profile manner regardless of profit or loss. On May 29, 2024, Liang Xi became a Bitget exchange order carrier, and each transaction attracted more market attention. Faced with increasing influence, on the one hand, in order to reduce the losses caused to copying users due to his own misjudgment, and on the other hand, in order to reduce the volatility caused to the market by his own trading behavior, Liang Xi posted on March 12, 2025 that he would kick out all copy orders exceeding $1,000.
But as time went on, cracks began to appear in his Liang Family community. The reason was simple: the debt problem seriously challenged his credit. In September 2024, several creditors publicly accused him of not paying back debts on social platforms, and even in Xs live broadcast Space, someone directly confronted him on stage, causing Liang Xi to fall into a storm of public opinion. Faced with this situation, his way of dealing with it is still: creating bigger gimmicks to cover up old disputes, so there are also various horse-drawn things mentioned above. In early 2025, he tried to revive again and put forward the slogan of Make the currency circle great again to continue to unite the Liang family to rectify the currency circle.
The money first logic of the cryptocurrency world is fully reflected in Liang Xis experience: when making money, he is hailed as a young Buffett, and after losing money, he becomes a crazy gambler. When making money, he is in great glory, and when losing, he is deserted by everyone.
Liang Xis story is not only a microcosm of the myth of wealth in the cryptocurrency circle, but also a case of the backlash of high-leverage trading. His madness and fall are a bloody fable of the wild era of the cryptocurrency circle. His gamblers strategy, gimmicks to protect rights, and believers betrayal all reflect the struggles of early retail investors in the disorderly market. When the industry enters compliance and institutions replace grassroots as the protagonists, Liang Xis story will eventually turn into the tears of the times, reminding later retail investors that the myth of getting rich quickly is not the salvation of retail investors, but a cruel game between capital and luck.
