Top universities' investment decisions have also taken a big hit. It is reported that a well-known university once followed the trend by adopting a Nobel laureate's crypto investment strategy, resulting in losses of over $6 billion during the crypto market downturn, and subsequently had to cut back on liberal arts programs to make up the shortfall.

Interestingly, this university's total assets are approximately $21 billion. If a $6 billion loss truly prompted a major adjustment in academic focus, the underlying financial logic is worth questioning. On one hand, it reflects that even top-tier institutions find it difficult to manage the high volatility of the crypto market; on the other hand, it exposes the dangers of over-concentrating high-risk investments in asset allocation.

This case serves as a reminder to institutional investors: celebrity endorsements do not equal a safety cushion. While crypto assets offer great opportunities, risk management and position control are always the first lessons.