On April 5, Justin Sun posted on the X platform that theft of user funds by First Digital Trust (FDT) and the misappropriation of user funds by FTX are both very serious and bad incidents of misappropriation of user funds. However, if you must compare the degree of terror, the former is even more serious, even more than ten times worse than FTX. The reasons are as follows: 1. FTX misappropriates user funds. Although the user is not aware of the misappropriation, at least within FTX, SBF made a pledge loan, representing Alemeda Research, and mortgaged a large number of FTT/SRM/FTX shares/Maps tokens to FTX to lend user funds. At least on the surface, this is a loan and a certain degree of collateral was made according to the percentage. FDT directly misappropriates and steals assets without the user's knowledge without the user's knowledge, without even the internal mortgage process. 2. SBF misappropriated FTX's user funds, but was not authorized by the user, but eventually used it for investment. In the end, at least most of them entered high-quality companies such as Robinhood stocks, Anthropic and other AI companies, and did not embezzle or enjoy. At present, FDT has entered private companies, completely misappropriated and embezzled, and has not made any substantial investments. 3. After the incident was exposed, SBF had at least a positive attitude and hired a law firm to find a way to recover the user's assets. After the fact of misappropriation was exposed, Zhuo Junqiang still pointed out that he was a horse and pretended that nothing had happened, with great subjective malice. 4. After the FTX incident, US regulators and law enforcement agencies took quick action, actively intervened in the FTX bankruptcy process, and arrested FTX-related personnel (including SBF), actively controlled the situation, helped users to recover losses, and avoided a significant impact on the US financial reputation.