Former Xunlei CEO Chen Lei's Controversial Journey

Jack Kong, CEO of Nano Labs, posted on X. Former Xunlei CEO Chen Lei's career trajectory is intriguing, transitioning from a prominent executive at Tencent Cloud to a key figure in blockchain concept stocks, and eventually fleeing overseas while facing a 200 million yuan pursuit. The 'PlayKey Cloud' device, once priced at 599 yuan, surged to 3,240 yuan, introducing many to blockchain and mining concepts. However, when the line between technological innovation and speculative trading blurs, the outcomes are often unfavorable. Notably, within 48 hours before his dismissal in 2020, Chen approved payments exceeding 20 million yuan, a move that left many puzzled.