#代币资产发行与投资 Seeing this case, I am reminded of a question many investors have asked me: why do some people make money but end up losing even faster?

This director made 27 million by investing 4 million in Dogecoin, which sounds like a legendary story. But the ending of the story is—most of the profits were squandered on luxury goods, and he ultimately faced a 90-year prison sentence for embezzling public funds to invest in cryptocurrencies. This is not only an investment failure but also a turning point in life.

What I want to say is that there are three points worth reflecting on here. First, high returns often come with high risks and high temptations. When a large profit suddenly appears in the account, people can easily become reckless. Second, position management is crucial—investing 4 million in a highly volatile asset itself lays hidden dangers. Lastly, and most importantly, the source of funds is very important. Using others’ funds to chase high returns has already gone beyond the scope of investment.

Long-term wealth accumulation is never achieved by a single doubling but through reasonable asset allocation, restraint, and safe decision-making. Even if you earn an unexpected profit, you should ask yourself: how can I preserve this money, rather than how to spend it? Steady investors understand that protecting what you already have is much wiser than chasing more.