Year-end is approaching, and many are starting to revisit their memories of the market over the years. From the Mentougou incident and the 312 circuit breaker to the departure of senior executives from major exchanges, the crypto world has experienced many dramatic moments. But recently, one event has been brewing—about that explosive-haired CEO and the empire he personally brought down.

Setting aside emotions and looking at the data, an absurd fact is staring us in the face: this once influential figure was really just one step away from "redefining the entire industry landscape."

What if that fund misappropriation incident had not occurred? What if the company had continued normal operations until now? The outcome might not have been just surpassing a major exchange; it could have become a behemoth that puts pressure on both Wall Street and Silicon Valley.

That investment in Anthropic illustrates the point. Back then, throwing in $500 million casually, now Anthropic's valuation has soared to $300 billion, with plans for an IPO in 2026. This is just the tip of the iceberg. Looking at the 41 million Solana tokens held—just calculating the market value of these assets alone is enough to leave people stunned.

The market is always full of assumptions. Some individuals, some decisions, have rewritten everything at the crossroads of history. The person who once tried to reshape the industry order ultimately became a cautionary tale. But if we look along a parallel timeline, how might everything have evolved?