$Futu Holdings Ltd (FUTU.US)$
seems like this Sun guy say it every year…. what a scumbag

$Futu Holdings Ltd (FUTU.US)$
Guys lets view this rationally. I just finished my homework.
This statemement by 孙天琦 (The monetary stability guy in China who issued this damming statement), was delivered as part of a public think tank event in China (Link below). The statement was purely his personal opinion, not some statement issued out of Regulator's office. This is likely just his personal opinion.
Also, this was also not the first time he said something like this. In Jan 2020, he said something similiar too （Link attached). Cross border payment have been always his focus of work. Be it this statement or 2020's stateemnt, he have been vocal over the legality of "Cross border payment". Likely his concern is that China resident will use this loophole to launder money and buy shares overseas.
I think this is just another case of high profile ppl's slip of mouth, thereby causing market crash. His word have been taken wildly out of context and overblown.
1.) Sun's previous comment.
http://finance.sina.com.cn/zl/china/2020-01-10/zl-iihnzahk3176509.shtml
2.) Full news on this current statement
http://finance.people.com.cn/n1/2021/1028/c1004-32267651.html

$Futu Holdings Ltd (FUTU.US)$ 1. Mr. Sun made this statement on the 24th, and mainland media reported it on the 26th. Why is it now being widely circulated overseas?
2. Mr. Sun has been saying this every year in recent years, this year is just a routine reiteration. Why is it suddenly being extensively reported now?
3. Securities business is the responsibility of the China Securities Regulatory Commission. Why is someone from the central bank coming out to make comments? Does the China Securities Regulatory Commission lack personnel, or is it now under the management of the central bank?

$Futu Holdings Ltd (FUTU.US)$ $UP Fintech (TIGR.US)$
Let's all take a step back from this madness and look at the bigger picture.
1. FUTU and TIGR are both heavily regulated by various authorities. Our money are safe as they are insured by MAS. Both of them are backed by the largest institutions and banks in China.
2. FUTU and TIGR have more international users than China users.
3. Even if FUTU and TIGR is banned in China (which I highly doubt so), they can continue operating internationally. China has been saying a lot on banning cryptocurrencies, and news of this surface every few months, for years, yet not much action has been taken.
4. China is just flexing to exert dominance on companies, basically telling them that the country is the boss, mainly to keep companies under control. This is actually triggered by the Jack Ma saga.
5. FUTU has good financials. They expand really quickly and has been overperforming quarter over quarter. Earning report is coming in on 18th November, which is expected to be overwhelming.
Trust me, knowledge is power. Ignorance is what is costing you money.

$Futu Holdings Ltd (FUTU.US)$ When you are afraid, there will always be someone who is greedy. Don't be afraid, confront them bravely.
Futu is going in the right direction. Even Singapore can accept it. What are we still worried about? Don't fear on the day of birth.

$Futu Holdings Ltd (FUTU.US)$I have faith in Futu, as a long term user. Uncertainties are causing this huge drop, and panicking selling is going on. Personally, I'm buying these, in not huge quantities, but as a trader at heart. Averaged to 58 today, if I had more coin rolls I'd buy more.. DCA, Buy The DIP!!