Five days after joining Xinhuo, he overturned the car. How did Fu Peng anger the entire crypto community?
Author: web3_golem
Original title: Five days after joining Xinhuo, he overturned his car. Why was Fu Peng turned into a sieve by the crypto community?
It only took Fu Peng 5 days from officially announcing his entry into the crypto industry to being ridiculed by the crowd.
On April 20, Fu Peng, the former chief economist of Northeast Securities, announced that he joined the Hong Kong stock listed company Xinhuo Group as the chief economist. As soon as the news came out, Xinhuo Group's stock price rose by more than 12% during the intraday period. Three days after joining Xinhuo, Fu Peng appeared at the 2026 Hong Kong Web3 Carnival and delivered a speech. In his speech, he proposed that the future financial market will move towards the “FICC+C” era, that is, the allocation of large types of assets will add crypto assets. Finally, Fu Peng also answered why he joined the crypto industry across borders:”Because your (crypto) industry has matured to the point where it can be included in investment portfolios.”
Fu Peng's high attitude in this speech may have laid the groundwork for this conflict with crypto KOLs. April 25, Fu PengPost a postThinking that the funding rate for Bitcoin perpetual contract transactions is similar to the deferred fee for traditional financial gold spot transactions, Fu Peng later added that many people didn't even know what he was saying; only early large-scale BTC holders and people at a certain level understood what he meant.
This kind of self-deprecation and “everyone who knows it” aroused disgust in the crypto community. The most representative one was to play with Fu Peng “possessing the North,” implying that Fu Peng's past remarks had no real power (Odailey note: As a KOL in the coin industry, he experienced major losses as a fund manager, losing more than 20 million yuan worth of ETH at once).
Surprisingly, under the “exchange of courtesy,” Fu Peng broke through defense and blackmailed all KOLs and crypto practitioners who mocked and made fun of him in one go. This act of breaking down and blackmailing at the wrong level has also completely infuriated the crypto community, and the real image hidden behind Fu Peng's ostentatious personality has also been completely stripped out by the community.
Fu Peng with a “bright” background
Who is Fu Peng? Native crypto players may not be familiar with him, but if you are a user who often follows financial topics such as macros and major assets, you will definitely be impressed by this name.
According to public information, Fu Peng's early career was mainly in the UK. He graduated from the University of Reading in the UK and worked for Lehman Brothers in 2004 (then the fourth largest investment bank in the world); from 2005 to the end of 2008, he worked for an event-driven strategy fund under Solomon International Investment Group, where he was the head of global macro-hedging strategy design for international financial markets; after returning home in 2008, he worked as chief macroeconomic advisor/chief macro-related position at China Mid-Term Group, Galaxy Futures, etc.
Fu Peng was truly recognized by the wider public after joining Northeast Securities in 2020 as chief economist. At the beginning, he mainly served private clients, providing wealth allocation advice to high-net-worth individuals from a macro perspective. In 2024, he successfully broke the circle and became an “influencer economist” due to several speeches that differed from mainstream macroeconomic views. The content of his speech was cut into short videos that were widely distributed and sparked discussion on social media.According to public reports, Fu Peng had over 4 million followers on the Weibo platform alone at the time.
However, the good times did not last long. At the end of 2024, Fu Peng's multi-platform accounts were frozen due to his long-term negative remarks about the Chinese economy and controversial statements. At the end of April 2025, Fu Peng said he needed surgery and recuperation due to physical reasons, so he left his job at Tohoku Securities.
Some of Fu Peng's past remarks summarized by the community
This is just Fu Peng's career history. After hacking crypto KOLs in batches, his past experiences related to encryption were also taken out. In 2024, in a paid economics course analyzing gold, Fu PengThey expressed bearish views on Bitcoin and gold, but many people later criticized refunds due to differences between predictions and actual price performance.
In 2025, Fu Peng also covered the crypto field in the sixth season of his video series “Fu Peng Talks,” focusing on paid courses such as “BTC: Financial Assets in the AI Era” and “Stablecoins Restructure the Global Monetary Order”. The price was 1,798 yuan. At the time, Bitcoin reached a new high of 120,000 US dollars, and now the price of Bitcoin fluctuates between 7.5 and 80,000 US dollars.
Fu Peng paid courses
As can be seen from the above experience, Fu Peng is not a traditional academic economist. His status is more like an economic commentator or macro-analyst. He aims to guide transactions and provides directional predictions, but he does not personally end up trading. After being collectively blocked by domestic financial media at the end of 2024, Fu Peng's reputation and identity have plummeted, and even now, his remarks are still unable to spread on mainstream domestic social media platforms.
If this is the case, why did Xinhuo ask Fu Peng to be the chief economist?
This starts with Weng Xiaoqi, the former CEO of HashKey Exchange, officially joined Xinhuo in August of last year and became CEO. The new official took office three times. After taking office, Weng Xiaoqi formulated a new strategy for Xinhuo, which is to become a private-level digital asset manager, serving high-net-worth individuals and institutions, providing one-stop services from crypto asset allocation to escrow.
Under this new strategy, Fu Peng has indeed become the most suitable candidate. Fu Peng can act as Xinhuo's trusted intermediary in the traditional financial field, and based on his past career history, he can also bring counterpart customer resources to Xinhuo.
Xinhuo Group is a company that has changed its name and slimmed down from the “Huobi listing platform”. Although it has a compliance license, the essence of doing private business is still selling trust. It is difficult to gain the trust of traditional entrepreneurs and high-net-worth people based on Xinhuo's qualifications and brand image alone. Therefore, the seller Fu Peng, who is from the “first place” and also has a certain level of public recognition in the financial field, can add a layer of customer identity to Xinhuo.
Second, as an “influencer economist,” Fu Peng has strong market translation skills. He knows how to translate obscure and complex topics such as macros, major assets, and debt cycles to the public and clients, and how to arouse the appetite of high-net-worth individuals. Finally, Fu Peng's core influence radius in the past may have covered a group of medium- to high-net-worth customers with asset allocation needs. With the accumulation of resources in the past, Fu Peng can at least increase customer reach for the new digital asset private banking business.
Why is Fu Peng dissatisfied with the coin industry?
Success is good is what, and defeat is also what. The conflict between Fu Peng and the crypto community is essentially that he, who comes from traditional finance, is at odds with the crypto industry.
The integration of traditional finance and the crypto industry only began to happen in the past two years. Before and at the beginning of the birth of Bitcoin, the crypto industry had an intolerable relationship with traditional finance. The crypto industry is questioning the inefficiency and decay of traditional financial systems, so it has also spawned a native spirit of anti-authority, decentralization, and equality. Although the cease-fire has now come to an end in the two fields, this spirit still exists.
However, Fu Peng, who is used to the traditional financial discourse system, has yet to adapt to the public opinion environment in the crypto industry. He is used to one-way forms of expression such as speeches and private seminars. He is used to putting on a preaching attitude, and does not allow direct questioning by the audience. He doesn't understand the equal, instant communication methods that have always existed in the crypto industry, and he doesn't know that even CZ and Ho Yi sometimes have to face public questions from the community. So after being mocked by the community,Only then will he use the traditional financial blogger system — blackmail and delete reviews, only screen and not refute them.
Meanwhile, the crypto industry is also changing. In the past, when crypto was still a marginal circuit, whether in the traditional financial world, entertainment industry, or regulatory circles, as long as a slightly famous person stood up for the crypto industry, they would be well received, and could even break the wave with popularity. However, the crypto industry has long been fascinated by celebrities after US President Trump and his family, who are currently one of the most powerful people in the world, also stand on the crypto platform and extract money from the crypto industry.
Today's crypto industry understands more what you can bring than who you are. However, Fu Peng is ostensibly an economist; in fact, he is an analyst who doesn't hold positions and only exaggerates. This image is clearly not pleasing in the crypto industry.
In fact, Fu Peng only stepped into the crypto industry, because he still uses his own traditional financial analysis framework to analyze encryption, still serves traditional financial customers, and still only recognizes the part where the crypto industry intersects with traditional finance. There is still a wall between him and the real crypto community. People on both sides can't see each other, but Fu Peng doesn't care either because neither of us are his target customers.
Recent developments
According to the encryption KOLThe old driver in the coin industryIt was revealed that Fu Peng explained that Twitter was not run by himself, but that it was entrusted to an outsourced team, and that he had no idea about hacking KOLs in batches. This also shows once again the distance between Fu Peng, who comes from traditional finance, and the crypto industry; he doesn't want to directly communicate with the crypto community himself. Of course, this is probably just an excuse for Fu Peng to “throw the pot”; he probably wants to get rid of his concerns about Fu Ji.
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