The story of BWEnews: China’s most Famous Cryptocurrency News Trader

Author: BlockBeats

Translation: WuBlockchain

These views are personal opinions expressed by the individual and cannot be verified.

“Now, let me ask: as the wealthiest, most cash-rich Gen Zer on Zhihu, which is verifiable, does anyone disagree?”

This provocative introduction comes from Vida, who claims to be the richest Gen Zer on Zhihu, with at least $7 million in available cash (approximately ¥51 million). His rapid trading and high profits have led to five investigations by Binance’s risk control department.

Reading this, many may think it’s another boastful post meant to attract attention. But what if it’s all true?

On November 11, Binance launched two low-market-cap tokens, ACT and PNUT. According to Lookonchain, a blockchain data monitoring platform, just two seconds after Binance announced the ACT listing, an address swiftly bought 10.9 million ACT tokens for $320,000. As ACT’s price quickly surged, this investment yielded a profit of $3.4 million (about ¥24 million).

The purchase happened a full seven seconds before Binance’s announcement on the Chinese platform, prompting some to question if this was a case of “front-running” or insider trading.

As discussions intensified, the BWEnews team released a statement claiming this address as theirs. They explained that their trade was based on the English announcement, published seven seconds before the Chinese one. The speed of this trade was the result of programmatic news trading precision, with Vida himself behind the operation.

$3 million, ¥21 million—this was what it took Vida, a “first-generation wealthy Gen Zer,” only two seconds to achieve.

After this legendary trade, Vida was hailed by internet users as the most powerful program trader of the current bull market. Vida himself responded to questions on Zhihu, stating that his net worth has now approached ¥130 million.

Vida’s rapid rise has garnered massive attention, not only for his impressive wealth and trading skills but also for his background, upbringing, and investment philosophy, which are rich with legendary appeal. Through Vida’s posts on Zhihu and other public information, BlockBeats has pieced together the journey of this Gen Z trading prodigy.

IQ 70, Often at the Bottom

Vida’s early life seemed completely at odds with his current reputation as a “genius trader” online.

Born in 2000 into a middle-class family in Jiangsu, his life was far from difficult, but his academic performance was a source of concern. Starting from elementary and middle school, Vida struggled in the sciences, with his math grades consistently at the bottom. An IQ test result of 70 led his teachers and classmates to regard him as a “dunce.”

In China’s public education system, which places a heavy emphasis on science over humanities, Vida’s results made it hard for him to keep up. “If I stayed in public school, I’d be worse off than those who grind at studying, at least they’re good at taking tests, whereas I was good at nothing.”

During his high school entrance exams, Vida submitted what he described as a “half-hearted” answer sheet, scoring a total of only 194 points, effectively marking the end of his traditional education path. In later reflections, Vida felt fortunate that he didn’t continue with the public education system, and instead found his strengths, maximizing his value outside that system.

Vida’s talent was especially apparent in languages, particularly in English, a skill that was finally allowed to flourish when he entered an international high school.

“My strengths are in quick thinking and creativity, and I’m good at spotting business opportunities,” Vida explained. He found himself adept at exploiting information asymmetries in a more open, flexible environment, and this “financial acumen” would become the core of his future success.

Vida’s transformation was largely due to his family’s influence, especially his father’s guidance. Starting in 1996, Vida’s father entered the Chinese stock market as a follower of Warren Buffett’s value investing philosophy, developing his own unique approach to the Chinese stock market. Avoiding the highs in 2007 and 2015, he invested in properties in 2000, 2008, and 2015, transforming from a foreign enterprise procurement manager into a financially free individual who traveled often.

At 16, the First Bucket of Gold

Vida realized that modern financial strategies for speculative business aren’t taught in schools; they have to be learned through real business and firsthand exposure to the market’s fluctuations. “If you want to make money, learning and practicing speculation is far more effective than hitting the books,” he said.

He almost never read traditional books, instead spending his time on Twitter and YouTube, engaging in high-net-worth English-speaking communities where average members had over $2 million in assets, following only the top traders to glean insights and experience. He liked to describe himself as a “grassroots general,” likening himself to a character like Li Yunlong—someone without formal training but innately adept at winning “commercial battles.”

In 2015, at age 16, Vida tested his theories for the first time, engaging in light-asset arbitrage based on information asymmetry, and within four years he had accumulated his first million yuan.

His core strategy was always based on low-cost, high-efficiency arbitrage, profiting from information imbalances between markets and individuals. This model was low-cost, highly efficient, and forgiving. He admitted that his success rate was only 10-20%, but each bet involved less than 1% of his total assets. This low-cost, trial-and-error approach enabled him to take risks without jeopardizing his entire portfolio, while successful bets would yield returns of several multiples.

During this phase, his trading intuition and market sensitivity started to shine. While his peers were preoccupied with exams, his first million became the basis of his capital and confidence, eventually propelling him into macro-investing.

Around 2018, instead of taking the college entrance exam, Vida opted for a 3+1 overseas university program. There, he met peers from around the world and expanded his horizons toward broader markets—macro investing. Using his accurate assessments of macroeconomic trends and market movements, Vida’s wealth grew from ¥1 million to ¥7 million.

However, he soon realized that traditional manual trading methods could no longer keep up with his needs. In a market that shifts rapidly, relying on intuition and manual operations wasn’t enough to stay competitive. Vida began studying quantitative trading, exploring how to automate and fine-tune his strategies with programs and algorithms.

Better at Resource Allocation than Trading and Coding

“I don’t need to handle every detail personally; I just need to understand the principles and objectives, oversee the team’s work, and ensure the results align with my expectations.”

As Vida entered the realm of automated trading, many assumed he was highly skilled in programming and code. However, as mentioned before, Vida isn’t strong in the sciences or coding; his expertise lies in resource allocation and continuous optimization of those allocations.

Vida assembled a small team of programmers and quantitative analysts to turn his ideas into automated trading strategies. “I’m responsible for providing the concepts, while the team executes them. That way, I can focus resources on what matters most.”

He doesn’t see himself as merely a trader; instead, he likens himself to a figure like Xiang Yu—a strategist who leads on the front lines while directing from the rear. “As a manager, I don’t need to write every line of code myself, but I do need to ensure that my trading strategies are implemented accurately.”

With this approach to resource allocation, Vida officially integrated quantitative trading into his investment system in March 2021. He began testing ways to incorporate macro-investment strategies into quantitative algorithms, aiming to enhance trading efficiency through technology. Initially, his understanding of quant trading was purely theoretical, but after months of practical experience, its potential became clear.

By the end of 2021, Vida’s quant strategies had generated over ¥10 million in profits. More importantly, he finally saw the possibility of full automation in trading—shifting decision-making from a “manual mode” to “algorithm-driven,” allowing him to outperform competitors with speed and precision.

Vida also frequently shares some of his trading strategies publicly on Zhihu, knowing that his competitive advantage doesn’t lie in the strategies themselves but in their complexity and the difficulty of execution—making it nearly impossible for 99.99% of people in the market to replicate.

The Art of Millisecond-Level Arbitrage

By 2022, Vida had firmly established himself in the market through quantitative trading. But like every successful entrepreneur, he found that success brought not satisfaction, but even greater anxiety.

That year, he met a French peer who had made millions using news-trading strategies and then exploited a technical glitch on Coinbase, netting tens of millions within a few months. The speed of wealth accumulation in this model made Vida feel “admiring yet anxious.” He realized there were traders even faster and sharper than he was.

This sense of urgency drove him to constantly optimize his strategies and reaffirmed his trading philosophy: speed is everything.

“The idea is to get the intel before others and place your trades first. Then, sell to those who come in later,” he explained. With this focus, he delved into news trading, quickly noting that Chinese media often lagged behind the market’s pace, making it less useful for trading.

In his first year after university, Vida launched Formula News, a crypto media outlet catering to overseas Chinese. Due to compliance considerations, it only broadcasts on TG, Twitter, and Discord.

“I make money off the information delays of retail traders and the limited reaction times of market makers who can’t pull their orders fast enough. Retail traders often rely on a few slow news outlets or word-of-mouth, so if I buy before they do, there’s profit to be made,” he wrote on Zhihu.

Reflecting later, Vida saw this as one of his best decisions of 2022. He completed a total transition from market timing to fully automated trading, advancing to real-time news trading and latency arbitrage, raising his trading speed to top industry levels.

That year, global markets were down, and most investors were at a loss, but Vida had carefully maintained a large reserve of USD cash. On platforms like Binance, he leveraged latency arbitrage and high-frequency strategies to turn ¥8 million into ¥20 million.

By 2023 and 2024, as the market gradually recovered, Vida’s trading model had achieved nearly full automation. His news-trading system could scrape news content and execute trades instantly. With millisecond-level response speeds, he was well-positioned to benefit from market moves.

This success led to an explosive growth in his net worth, from ¥30 million to ¥100 million.

It’s hard to imagine that Vida, now worth over ¥100 million, was just two or three years out of university. He oversaw three main business lines, each split into multiple sub-business lines.

Looking forward, Vida aims to reach $100 million in assets within three years and to establish his own hedge fund in Singapore or Dubai.

In the longer term, Vida expresses a mix of “idealism” and “heroic ambition”: he hopes to create a legacy like Bill Gates or Mark Zuckerberg, amassing wealth at a young age and documenting the journey. When he’s older, he wants to look back on his youthful vigor and provide a roadmap for those interested in following in his footsteps.

“Within five years, I doubt I’ll retire. But if I do, I’d like to become a marine biologist, like James Cameron, or perhaps a philanthropist YouTuber like MrBeast,” Vida imagines for his post-retirement life.

Rejecting Fatalism

“Fate is random, but randomness doesn’t mean you can’t control it.” Not believing in fate may be Vida’s defining trait.

Throughout high school and university, Vida was surrounded by wealthy classmates. In that circle, he often heard, “Some things you’re born with, and if you’re not, then you’ll never have them.” Vida dismissed this belief with disdain.

At 16, a foreign teacher asked the students to write a letter to their future selves. In his, Vida wrote, “At 26, I will be a big boss.” He wanted to prove that the saying “the poor can’t rise” was a lie.

In Vida’s view, pessimists see randomness as fate, while optimists use randomness to create opportunity: “Good fortune favors those who try enough times. The difference often lies in who gives themselves more chances.”

Some think the wealth he’s accumulated is simply luck; Vida has a very different perspective. “I know exactly where each dollar I’ve made comes from: either greedy retail traders or market makers too slow to act—not some vague trend or blessing from fate.”

From October 2022 to October 2024, Vida’s live trading chart was an exceptionally steep line, reinforcing his disbelief in fortune or fate. He believes only in himself.

“I make money through high-level insight, computer technology, resource coordination and team management, an understanding of retail psychology, and enough capital to influence the market in a short time.”

“Crypto Is a Playground for the Smart”

What should you do if you only have a starting capital of less than ¥100,000?

In Vida’s view, the answer isn’t to dream of getting rich through financial investments, but to start with two things:

First, develop a unique skill. Choose a niche, refine yourself into an expert in that field, and use part of your time to exchange for money.

Second, exploit information asymmetries between people. Through internet opportunities, engage in reselling goods or act as an arbitrageur between people without risk, fully capitalizing on information imbalances.

Over the past 20 years, China’s wealthy have shifted from real estate and mining resources to the internet, renewable energy, and cross-border trade. In the future, new models and industries will continue to emerge. Opportunities are never lacking; the key is to be the first to rush in and claim the initial advantage.

Crypto is one such new frontier.

“To news traders, bot developers, arbitrageurs, market makers, and rebate farmers: if you’re not working hard in such favorable market conditions, you’ll regret it in the next four years. Use this liquidity-rich environment to fully capitalize and extract as much USD as possible. Long live the wealth transfer,” reads Vida’s latest tweet.

The crypto market is a haven for smart people, and Vida is unapologetically vocal about his preference for the industry, which he views as one of the few global platforms where smart individuals can truly stand out.

“The crypto market’s biggest role is to transfer wealth from the bottom 95% of retail investors to the top 5% of elites,” Vida writes on his Zhihu profile.

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