Foresight's recent revelations about Hashkey are quite significant, with several key points noted: 1. Two insiders have stated that HashKey has only six months of cash flow left, is undergoing large-scale layoffs, and is seeking funding through VC or IPO. 2. Recently, one-third of the employees have been laid off, and some IT suppliers have had payments delayed or contracts terminated. 3. Employee salaries and bonuses are heavily tied to HSK tokens, but HSK has dropped 85% in the past six months. 4. In an effort to comply, $100 million was burned in less than three months early on, and recently an average of $10 million is burned monthly, with 30-40% being compliance costs, leading to a deficit. 5. Due to Hong Kong compliance, there are only four trading products, far fewer than the hundreds on major platforms, severely limiting user growth and fee income. 6. The subsidiary exchange, public chain, OTC, cloud services, brokerage services, etc., are severely underperforming expectations and facing competition from industry rivals. 7. Local competitors like Futu and OSL are rapidly capturing potential clients originally belonging to Hashkey, while in the public chain and RWA sectors, they are facing competition from Ant Financial and others.