The emergence of 1011 is essentially due to the disproof of Web3. Funders are no longer willing to pay the price for this, and whether it's exchanges or major players, they have all realized earlier than most that the Web3 scam can't go on. Watching liquidity gradually drain away, they decided to take decisive action—if they don't pick the peaches themselves, others will. They preemptively crashed the market to extract the last drop of profit. In other words, these people have been working to build a discredited narrative. Everyone in the circle bears responsibility, and no one has reflected on the legitimacy of the existence of this circle.