I just came across an interesting investment viewpoint shared by someone. A founder of a major exchange recently emphasized in Moments that, in this market cycle, they haven’t reduced their BTC or ETH positions at all, and they also don’t plan to do operations like exchanging ETH for USDT. It’s said that their family office manages a large amount of assets, and about 80% of their Ethereum holdings are used for staking—an approach that fits a long-term holding rhythm. What’s more interesting is that 95% of their funds are managed by their internal team, with no delegation to external institutions or individuals, which is actually uncommon for large funds. In addition, he specifically clarified that he is not an investor in certain funds—seemingly responding to rumors in the market. This steadfast confidence in their holdings does reflect some large funds’ optimism about the long-term value of Bitcoin and Ethereum.