In 2026, there are only 3 paths for investment in the crypto space: 1. Dollar-cost average into BTC, don’t buy if it doesn’t drop. 2. If Jeff can go to jail in the U.S., and the regulatory risks that could happen at any time are eliminated, then you can buy some HYPE, don’t buy if he doesn’t go to jail. 3. Don’t engage in on-chain finance, don’t leverage money on exchanges, don’t play with altcoins. The remaining opportunity odds, for a certain amount of capital, are still likely to be less certain than stocks this year.

I have no personal opinions about Jeff or HYPE; I also think it's a good product, but that doesn't mean it's a good investment in this situation, similar to Buffett's Cuban stocks. HYPE fans who disagree can explain why HYPE could never be regulated; I truly don't understand that. Whether it's the U.S., Europe, Japan, South Korea, or other exchange owners, they could all cause trouble for him. The best-case scenario is of course going to jail in the U.S., which would blow up the biggest risk point.