#代币资产发行与投资 Seeing the SEC Chair's recent statement, I am reminded of friends who have experienced setbacks in token investments over the past few years. On-chain transformation is indeed a major trend, and the improvements in transparency and efficiency are real, but this precisely makes me want to remind everyone of one thing — a trend does not mean every opportunity should be seized.

The threshold for issuing token assets is lowering, which is a good thing in itself, but it also means more participants and projects will flood into the market. My experience is that in this era of "everything can be tokenized," a cool-headed approach is even more necessary. Not all assets on the chain are worth investing in, and regulatory friendliness does not mean the risks disappear.

My simple advice is: First, do not suddenly leverage or expand your position just because of favorable policies; maintain your original asset allocation framework. Second, if you want to participate in token assets, ask yourself how much loss you can bear; this ratio determines how much you can invest. Third, set a learning period for yourself, and only act after truly understanding the fundamentals of the project, rather than following the trend or chasing hot topics.

The future of on-chain finance may be bright, but prudent investors know that even a bright path must be walked step by step, and you should never bet your entire fortune at any time.