Last night, shortly after a popular influencer posted, the quota for a leading exchange's financial product was instantly sold out. This phenomenon actually reflects two things: first, retail investors do have idle funds; second, there are really no good investment options left on the market.

Let's talk about the underlying asset of this financial product—the USD1 stablecoin issued by the Trump family. The background of this coin is quite interesting: before its launch, the total issuance was just over 2.2 billion USD, of which 2 billion was directly taken by a major exchange.

The entire financing process is even more bizarre. On March 12, a 2 billion USD financing agreement was signed, and then what happened? It wasn't until March 25 that printing and payment began. In other words, the contract was signed first, then money was printed to pay off debts. Such an operation would be impossible in traditional finance, but it happened in the crypto world, with some jokingly calling it "IOU investment."

Since the printing started at the end of March, nine months have passed. During this period, the major exchange's actions were quite swift—first announcing support for USD1, then launching trading pairs, and on Christmas Eve, directly launching a financial product with an annualized return of 20%.

The result was the drama yesterday. A big holder wanted to sell all their BTC directly and convert it entirely into USD1 to enjoy the 20% annualized yield. Mid-transaction, they realized the depth was insufficient, and the BTC price was forcibly pushed down to $24,000. Originally aiming for steady gains, they ended up getting liquidated for a big loss—probably feeling socially anxious right now.

The current issue is clear: USD1 has only 2.2 billion USD issued, yet yesterday, retail investors' enthusiasm caused the financial product's quota to sell out. If this momentum continues, what will happen next?