Fu Peng, the former Chief Economist at Northeast Securities, has sparked controversy in the crypto community just days after joining Xinhuo Group as Chief Economist. Following his appointment on April 20, Xinhuo Group's stock surged over 12%. However, Fu Peng's comments at the 2026 Hong Kong Web3 Carnival, where he suggested that financial markets will integrate crypto assets, were met with criticism for their perceived arrogance. The backlash intensified when Fu Peng compared Bitcoin perpetual contract funding rates to traditional financial fees, implying that only a select few could understand his insights. This prompted ridicule from crypto enthusiasts, leading Fu Peng to block critics on social media, further alienating the community. Despite his extensive background in traditional finance, Fu Peng's approach has clashed with the crypto industry's culture of open dialogue and decentralization.