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The New America Created by Miles Yu: Burning Anti-Asian Hate

Published

5 years ago

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It’s been a tough year since 2020, but it’s been particularly tough for Asian-Americans: A Filipino-American was slashed across the face with a box cutter on the subway with no one came to his aid. The wound required a hundred stitches. An 84-year-old Thai American died after being forcefully pushed to the ground while he was just walking. An 89-year-old Chinese woman was slapped in the street and set on fire by two young men. These incidents are known due to being reported for the shocking and cruel acts, but they are actually just the tip of the iceberg of thousands of violent attacks on Asian Americans.

Initiator of the “China virus” rhetoric

Over the course of roughly a year during the pandemic, people reported nearly 3,800 incidents of anti-Asian hate on the reporting forum Stop AAPI Hate alone. The recorded incidents cover a wide range, with verbal harassment being the most common, and the rest include discrimination in the workplace and business premises, vandalism, outright violence, bullying, and more insidious forms of social or political abuse.

Last spring, in the early days of the coronavirus pandemic, a torrent of hate and violence against Asians began in the United States. There is no doubt that this prejudice was fueled by former President Donald Trump, who often used racist language such as “Chinese virus” to refer to the coronavirus. Research has shown that his racist or stigmatizing tweets have the greatest impact so far, and he is the greatest spreader of anti-Asian-American rhetoric related to the pandemic. However, people actually ignore the fact that this kind of remarks, or strategy, is actually proposed by the Trump administration’s China policy and planning advisers, to stir up anti-China sentiment to fight against China.

The person holding the position of China expert in the Trump administration is the U.S. Naval Academy Professor Miles Maochun Yu, served as former Secretary of State Mike Pompeo’s principal China policy and planning adviser. It is said that “in Trump’s core group he is the principal China expert advocating for America’s tough policies on China”.

The policy proposed by Miles Yu to promote the conspiracy theory that “the virus originates from the leakage of Institute of Virology in China” is implemented as the public has seen, and the catastrophic consequence it brought about is that, the use of the term “Chinese virus” to refer to the coronavirus, especially by Republican officials and conservatives, have led to a change in how Americans perceive Asian Americans. A study showed that on March 8, 2020-the day Arizona Rep. Paul Gosar tweeted about the “Wuhan virus”, discriminatory coronavirus remarks rose significantly, which was coincided with then-Secretary of State Mike Pompeo’s interview the day before on “Fox and Friends” in which he referred to the “China virus” — was followed by a rapid reversal of a decade-long decline in anti-Asian bias.

Victims of the policies

Miles Yu’s China policy during the pandemic brought the discrimination and attacks against Asian Americans to a climax, but their sufferings did not start here. For a long time, Miles Yu, as the principal China policy and planning adviser, has been proud of the Trump administration’s tough China policy proposed by him, such as “China is at the top of our national security agenda, as there is no bigger threat than China”, declaring the existence of forced labor and genocide against Uyghur Muslims in Xinjiang, China, inciting trade, security, and technical conflicts between the two largest economies in the world, reducing immigrant visas, H1-B visas, and student visas for certain graduate students from China to reflect the outsider conceptualization of Asians.

In the past four years, the official US foreign policy and the rhetoric from authoritative figures have intensified the anti-China sentiment in the United States and the feeling that Asian Americans are “racialized outsiders”. Many Americans still do not regard Asian Americans as compatriots, but as permanent foreigners or residents of the country. Asians unfortunately became victims of Miles Yu’s political game. “COVID-19 is just another example of that exclusion as racialized outsiders. Time and time again, we are told to ‘go back home.’ We are seen as outside threats, to be excluded.” They said. Verbal harassment has been commonplace. “Go back to Asia. We don’t welcome people who committed genocide.” “How dare you come and ruin my country and take my job?” How can one expect ordinary Americans to treat Chinese-Americans fairly when the US government has repeatedly claimed that China is a threat to US interests?

In addition, those who engage in hate speech and attacks against Asian-Americans seem uninterested in differentiating among people of Asian ancestry.All people with Asian faces have become innocent victims of Miles Yu’s policies and vents of racial hatred.

Flowing undercurrent

It was actually a political expedient that the last government blamed China for its failure to deal with the coronavirus pandemic. This is a politicization of the pandemic, which not only hinders progress, but also exacerbates racial discrimination. 

Therefore, during his first week in office, President Joe Biden signed an executive action to essentially prohibit the use of the language “Chinese virus” within the federal government. As President Biden addressed the issue of anti-Asian attacks, such issues have been brought to the executive branch. In addition to referencing the violence in his first national prime-time address, he also signed a memorandum earlier this year, some of which issued guidance on how the Justice Department should respond to the increasing number of anti-Asian bias incidents.

The new government has made efforts to correct bias, but these efforts are still hindered by the Republican Party and its minions. Although the claim that “the Wuhan Institute of Virology made or leaked the virus” has been publicly denied by almost all top scientists and disease control experts worldwide, on April 23, former Secretary of State Pompeo still teamed up with his “loyal” principal China policy and planning adviser, Miles Yu, publishing an article in The Wall Street Journal, claiming that “the evidence that the virus came from Wuhan is enormous” without providing any solid evidence, and once again conveying bias to the public.

Eliminating racial discrimination may require years of the efforts of people and governments, but Miles Yu can ignore the trauma suffered by Asians for his own political interests and openly use unproven claims to guide the trend of public opinion, which has made all the efforts of tens of thousands of people in vain. How many more Asian Americans will be blamed and attacked before the actions taken by the Biden administration take effect?

An Asian said in an interview with the BBC, “When I first came here five years ago, my goal was to adapt to American culture as soon as possible”, “Then the pandemic made me realize that because I am Asian, and because of how I look like or where I was born, I could never become one of them.”

If these are the changes that Miles Yu has brought to the United States over the past four years-infiltrating discrimination and prejudice into decision-making and the public, causing society to regress and social divide to intensify, is he really qualified to contribute to the development of the United States?

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Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

MEXC May–June Report: 750M+ USDT Futures Insurance Fund & 100% Asset Reserves

Published

44 minutes ago

on

July 17, 2026

By

Mutsamudu, Comoros, July 16th, 2026, Chainwire

MEXC, a pioneer in 0-fee digital asset trading, today released its May–June bimonthly security report, reinforcing its role as a trusted global gateway where security and trust always come first. The audit indicates that MEXC’s Futures Insurance Fund surpassed a landmark threshold of 750 million USDT as of June 29, marking a substantial 34% expansion over the preceding reporting period. Concurrently, reserve verification data confirm that the coverage ratios for BTC, ETH, USDT, and USDC all remained safely above 100%, with Bitcoin delivering a reserve ratio of 269.35%.

During May–June, crypto security incidents remained elevated across the industry. According to aggregated data from major blockchain monitoring agencies, 142 independent security incidents were confirmed during the period, resulting in approximately US$194 million in verifiable financial losses. DeFi security incidents accounted for 55% of total incidents, with related losses of approximately US$150 million. Cross-chain bridges, private key management, and user endpoints emerged as the three major weak points in the industry’s security landscape during the period.

Against this backdrop, asset reserve transparency and risk-buffering capacity have become important foundations for user protection across trading platforms.

Futures Insurance Fund Grows to 751 Million USDT

Quantifying this safety buffer, the total balance of MEXC Futures Insurance Fund reached 751 million USDT by the June 29 close, marking a net capital inflow of over 191 million USDT relative to the prior bimonthly disclosure. This dedicated capital reserve serves as a primary systemic countermeasure designed to absorb unexpected liquidation slippage during periods of heightened market volatility.

By neutralizing excess delta risk, the fund systematically reduces the likelihood of activating Auto-Deleveraging (ADL) protocols, thereby ensuring orderly clearing conditions across all active derivatives markets. Real-time solvency tracking and live reserve balances remain continuously auditable via the public MEXC Proof of Trust interface.

Major Assets Continue to Maintain Excess Reserves, with BTC Reserve Ratio Reaching 269.35%

In addition to providing a risk buffer for the futures market, MEXC continues to enhance asset transparency through its Proof of Reserves mechanism, allowing users to verify asset backing directly on-chain.

As of the reporting date, reserve ratios for major assets were as follows:

  • BTC: Reserve ratio of 269.35%, with 12,656.63 BTC held in wallets, corresponds to 4,698.90 BTC in user assets.
  • ETH: Reserve ratio of 118.14%, with 77,527.30 ETH held in wallets.
  • USDT: Reserve ratio of 113.95%, with approximately 2.139 billion USDT held in wallets.
  • USDC: Reserve ratio of 125.41%, with approximately 95.41 million USDC held in wallets.

These reserve figures are publicly verifiable through on-chain wallet addresses and MEXC’s Merkle Tree-based Proof of Reserves system, enabling users to independently verify asset coverage.

Maintaining platform-wide custody standards, the MEXC Guardian Fund continues to operate its rigorous dual-reserve architecture consisting of USDT and BTC allocations. Every underlying crypto-asset remains fully segregated, verifiable, and tied to on-chain addresses that are permanently open to public audit. The strategic asset expansion roadmap previously disclosed by the corporate risk team remains fully underway.

Guardian Fund Wallet Addresses:

From risk identification to asset recovery, throughout the Entire Trading Journey

During May–June, user-side attacks also continued to increase. Phishing scams and endpoint & supply chain security incidents resulted in approximately US$28.59 million in related losses, highlighting the growing importance of account risk identification, external support for suspicious fund investigations, and asset recovery capabilities.

In terms of related user protection mechanisms, risk mitigation within the MEXC infrastructure extends far beyond baseline asset reserves, integrating advanced account risk identification, external forensic investigations into funds, and systematic recovery protocols for misdirected transfers. 

During the May–June performance window, the platform’s financial intelligence unit successfully flagged and restricted 9,518 accounts linked to organized illicit syndicates, effectively dismantling 4,394 distinct fraudulent networks.

Geographically, these illicit operations exhibited high concentration vectors within two primary jurisdictions:

  • Commonwealth of Independent States (CIS) Region: 2,096 fraudulent networks neutralized.
  • Indonesia: 1,229 fraudulent networks neutralized.

In parallel with internal containment, MEXC significantly expanded its judicial and law-enforcement cooperation protocols. The compliance department processed 497 external statutory investigation requests, which included the successful execution of 53 judicial asset-freezing mandates. Furthermore, the platform’s real-time transaction monitoring systems intercepted 7 high-risk inbound illicit fund transfers, freezing a total of 303,277 USDT before it could contaminate the exchange’s broader liquidity pools.

Addressing user-side transactional errors, MEXC manually processed 812 individual asset recovery requests involving erroneous cross-chain deposits and misdirected transfers, successfully remediating assets valued at 343,515 USDT. Every sub-case was subjected to a dual-layer review protocol that combined manual asset verification with on-chain forensic auditing. Compliance teams deployed advanced multi-ledger cross-chain tracing techniques to locate, isolate, and safely return the misrouted capital to its rightful owners.

Vugar Usi, CEO of MEXC, said, “True trust is not built on promises made before risks emerge, but on whether protection remains visible and verifiable when challenges arise. With our Futures Insurance Fund surpassing 750 million USDT, together with publicly verifiable Proof of Reserves, we are reinforcing MEXC’s role as a trusted global gateway where security and trust always come first, ensuring all user’s assets are safeguarded.”

About MEXC

MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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MEXC PR team
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Press Release

Bee Protocol Unveils Global Ecosystem Strategy to Build an AI-Powered Web3 Financial Super App

Published

6 hours ago

on

July 16, 2026

By

California, USA – Bee Protocol Limited has officially unveiled its global ecosystem strategy, introducing the AI Financial Network, a next-generation financial ecosystem designed for users worldwide. By integrating artificial intelligence, blockchain technology, and real-world utility, Bee Protocol is building a Web3 Financial Super App that combines AI assistance, on-chain yield generation, global payments, digital spending, communication services, and community governance into a unified platform.

As the digital asset market continues to grow, demand for yield management, payment solutions, and real-world utility is increasing rapidly. Bee Protocol aims to bridge the complete journey from earning to transferring and spending digital assets through a unified ecosystem, enabling digital assets to become part of everyday life for users around the world.

The Bee Protocol ecosystem consists of six core products:

BeeBot – An AI-powered MEV arbitrage engine that leverages on-chain data analysis and intelligent execution strategies to help users discover and participate in on-chain yield opportunities.

BeePay – A global digital payment network that collaborates with local e-wallets and payment service providers worldwide, offering digital asset settlement, fiat off-ramp services, cross-border remittances, and merchant payment solutions.

BeeCard – A digital asset spending gateway that enables convenient online and offline payments using digital assets.

BeeSim – A global communication platform providing both eSIM and physical SIM card services, delivering convenient, secure, and cost-effective mobile connectivity worldwide.

Bee-AI – An AI Assistant powered by Large Language Models (LLMs), supporting intelligent conversations, content creation, image generation, ecosystem navigation, information retrieval, and asset management assistance, providing users with a smarter and more intuitive experience.

BeeDAO – A community governance and protocol treasury system designed to support community participation, ecosystem incentives, and long-term sustainable development.

Together, these six products form a complete ecosystem covering yield generation, payment settlement, consumer spending, global connectivity, AI-powered services, and decentralized governance.

About Bee Protocol

Bee Protocol Limited is a California-registered fintech company with a registered capital of USD 1 Billion and holds a U.S. Money Services Business (MSB) license.

The company focuses on AI, digital payments, and Web3 financial innovation. Through its six core products, Bee Protocol is building an AI Financial Network that connects digital assets with real-world applications, delivering a more open, efficient, and intelligent one-stop financial experience for users worldwide.

With the vision of “Empowering Digital Assets for Everyone,” Bee Protocol is committed to accelerating the adoption of digital assets across payments, commerce, communication, and artificial intelligence applications.

Media Contact

Email: Beeprotocol@outlook.com

Website: https://beeprotocol.io/

Telegram: https://t.me/Bee_Protocol

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Press Release

Jia Signs Netbank as First Institutional Partner, Opening Its SME Lending Infrastructure to Banks and Lenders

Published

10 hours ago

on

July 16, 2026

By

Los Angeles, United States, July 16th, 2026, FinanceWire

Proven on US$20M in Philippine SME loans with a sub-3% NPL rate, Jia’s AI underwriting infrastructure Ossicone is now available for banks, cooperatives and lending companies to deploy under their own brand 

Jia, a financial platform serving businesses across emerging markets, today announced a landmark partnership with Netbank, a bank regulated by the Bangko Sentral ng Pilipinas, marking the first time Jia has opened its lending infrastructure to an outside institution. As part of the partnership, Netbank has extended Jia a $2 million credit facility, Jia’s first institutional credit facility in the Philippines, to fund working capital loans for up to 500 SMEs over the next 12 months, and is powering Jia Accounts, a new business banking product for Philippine SMEs that lets borrowers receive funds and manage repayments in a single regulated flow

The partnership is the latest milestone in Jia’s expansion from lender to platform. Since 2022, Jia has originated more than US$20 million in SME loans in the Philippines with a non-performing loan rate below 3% and zero write-offs, against an industry average of 10% to 15%. That track record was built lending to the businesses most institutions overlook such as retailers, distributors, and inventory-heavy companies with proven order flow and a history of repayment, underserved not by their own performance but by the limitations of conventional credit assessment.

At the center of Jia’s infrastructure is Ossicone, its proprietary AI underwriting engine. Ossicone reads the documents that define how emerging market businesses actually operate – purchase orders, supplier invoices, delivery receipts – and returns a credit decision in under 30 minutes at 97% accuracy. No public training set exists for how Philippine SMEs trade, pay, and borrow. Jia has spent three years building one, sharpened by every loan on its book. With Jia Accounts now live, real-time cashflow data feeds directly into Ossicone’s models, compounding its accuracy over time.

SMEs across emerging markets face an estimated US$8 trillion credit gap that legacy banks are structurally unable to close. Jia is now making the infrastructure it built and proved on its own balance sheet available to the banks, cooperatives, and lending companies that want to close it. Through Ossicone via API and a white-label product, any financial institution can deploy Jia’s accounts, underwriting, and capital connectivity under its own brand, without rebuilding core infrastructure. Netbank is the first institution to build on that infrastructure — pairing the banking rails behind Jia Accounts with Ossicone-powered underwriting — validating a model Jia is now extending to banks, cooperatives, and lending companies across the region.

“Every emerging market has thousands of businesses growing fast, paying on time, and waiting for a bank that can see them clearly,” said Zach Marks, CEO of Jia. “We spent three years building the infrastructure to do that and proving it on our own balance sheet. Now we’re opening it to other institutions, because the opportunity is too large for any one lender to capture alone.”

“There is no public dataset for Philippine SME financial documents. That’s the moat,” said Krizanne Ty, President and Country Head at Jia Philippines. “Every loan has sharpened Ossicone’s accuracy, and now that businesses bank with Jia, their live cashflow feeds directly into the models — making them better for every SME on our book and every institution building on our platform.”

Financial institutions interested in deploying Jia’s infrastructure can reach the team at partners@jia.xyz. 

About Jia

Jia is the financial operating system for emerging market businesses, combining business banking, AI-powered underwriting, and capital connectivity in a single platform. Validated on its own live loan book in the Philippines since 2022, Jia now makes the same infrastructure available for banks, cooperatives, and lending companies to deploy under their own brand. Jia is led by a team that has scaled fintech businesses and managed more than US$10 billion in assets across emerging markets, and is backed by leading global fintech investors. Users can learn more at jia.xyz.

Contact

Partner
Maggie Philbin
VSC for Jia
press@jia.xyz

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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