“I Wasted 8 Years in Crypto”: A Builder’s Exit Note Goes Viral Across Asia

Ken Chan, the former co-founder of Aevo Derivatives Protocol, recently made a shocking announcement that has crossed borders and is raising serious questions about the credibility of the entire crypto ecosystem. In a painful voice, Chan wrote on his X post, “I am NOT building a new financial system. I built a casino.” This rather unfiltered admission initially left everyone wondering what Ken Chan meant by this statement and who it was targeted at. The Asian crypto community was the leading demographic that took to the internet following Chan’s confessional statement.

Even though Ken Chan hails from Singapore, the post spread like wildfire. The statement was first circulated among the Chinese community through the news, which then crossed several borders and went viral all around the world.

Cyberpunk To Crypto: A Journey Like No Other

According to Chan, he is a “starry-eyed libertarian”. Chan was very fond of Ayn Rand’s novels, and the cyberpunk genre spoke to Chan directly. His libertarian approach was largely fueled by the concept of Bitcoin, according to Ken Chan. This is clearly understood as Ken Chan wrote about Bitcoin, the following sentence: “Being able to walk across the border with a billion dollars in your head is and always will be a powerful idea to me”.

However, Chan himself admits that the long eight years in the blockchain industry have distanced him from this myth. Chan’s expressions clearly indicated the frustration in his voice as he pointed out how the Layer-1 wars did not bring any good to human society as a whole. According to Chan, the massive capital inflow into Layer-1 blockchains like Aptos, Sui, Sei, ICP, and countless others has never produced any meaningful or innovative solutions for the global financial ecosystem. Rather than being an innovative solution to the global financial problems, these blockchains simply drained money from investors in an effort to become the next Solana, according to Chan. In his statements, Chan went all out, stating that we do not need to build another casino on Mars.

While many argue that Ken Chan is purposefully targeting Aevo in its time of crisis, many came forward supporting his views. The LinkedIn profile of Ken Chan revealed his departure from Aevo in May 2025 and that he is now working on a personal satellite project known as KENSAT. Critics call this confession untimely as Aevo is at a critical low in its lifespan. The asset is trading at 45 million US dollars in fully diluted market capitalization. Chan is not clearly making Aevo’s case any better, as the asset has plummeted to nearly 99% from its all-time high price of $3.69 over the years.

The Casino Reference In A Crashed Market

While the casino reference may appear vague, the present market condition is giving it clear and credible clarity. Chan stated that the crypto market has become an online multiplayer casino that is operational 24/7.

Even though the reference itself does not tether to the crypto market, Chan’s background in crypto and the market crash that persisted through October and November reverberate this sentiment. This became apparent as several people took to social media with their take on the subject. The Chinese media reports added fuel to the fire. They framed the viral spread as a central problem associated with the lack of liquidity and proper communication in the crypto market.

Diverse responses flooded the internet as critics of Ken Chan openly replied that the wasted eight years of his life were his personal business. On the other hand, the voices that resonated with Chan expressed their fatigue after witnessing the recent market crash. Some comments were more rash than Chan’s own comment. It stated how the collective crypto circle is a fool’s dream. Their point was cemented by posing the argument that none of the numerous blockchain products in existence were ever used by the average global population. This argument gains credibility as most of such projects that rode in on the promise of revolutionizing something have refracted along their life cycle, and the underlying asset simply becomes a speculative and high-risk digital asset.

According to one Korean respondent, the only digital assets that brought any value to the table were stablecoins. Another person from Korea went on with a more conspiracy theory-oriented statement by saying that, beneath all the fancy tech and promises, the crypto market is a rigged system that is designed to separate retail investors from their money.

Chan’s Generational Anxiety and KKD’s Parallel Views

One of the most important aspects of Chan’s message echoes that of generational anxiety. The traditional ways of acquiring wealth have become largely inaccessible to the youth population of East Asian societies. Chan infers that this is one reason why crypto has an addictive hold over this younger generation.

Boosting Chan’s voice came a statement from famed Korean analyst KKD Whale as he posed a serious question: What has society achieved with what has been built in the name of blockchain so far? While their statements appear parallel to each other, we must not miss the coherence they share.

Conclusion

Ken Chan’s post raises several questions. The crypto community’s response to his post was also filled with varying levels of skepticism and optimism. With such an influential figure who helped build Aevo, equating the crypto space to a casino landed as a big blow to the supporters who still believe in the potential of the decentralized asset.

Controversies aside, Chan’s statements need to be studied with a scientific angle. The issues that Chan has pointed out are multifaceted and severe. If this statement passes as yet another social media controversy, it would be a loss to the community and would cement Chan’s argument that the crypto realm is facing a narrative vacuum.

Also Read: U.S. Teachers Union Urges Congress to Drop Crypto Market Bill, Cites Pension Risks