Who understands! Tang Seng selling luxury homes counts as the rate of return, hiding the harsh truth of the most ruthless control in the crypto circle.

Who would have thought? 36 years ago in (Journey to the West), Tang Seng, who couldn't even be bothered to lift his eyes to the ginseng fruit handed to him by Zhenyuanzi, is now standing in a luxury apartment in Beijing's Jinyu Hutong, priced at 160,000 per square meter, calculating the 'rate of return' in front of the camera.

In the lens, he wears a well-tailored suit, holding a floor plan in his hand, repeatedly confirming whether 'the bay window counts as additional area,' resembling a real estate salesperson rushing to meet KPI at the end of the month. But the whole internet is buzzing that he holds '58 billion family assets' — this scene is even more chilling than the act of a 'big shot' in the crypto community flaunting a hundred billion holdings, only to turn around and sell 200U of a shitcoin: it turns out 'paper wealth' and 'actual control that can be taken into hand' are worlds apart.

How strong was the 'Tang Seng IP' in 1990? He exchanged 'consensus across the network' for a ticket into the wealthy circle.

Don't think Chi Zhongrui is 'lying on the win through marriage'; when he married Chen Lihua in 1990, he held solid 'top-tier IP chips.'

At that time (Journey to the West) had just finished airing not long ago, and the Tang Seng he played was a 'national-level white moonlight' — children on the street would call out 'Master Tang Seng' upon seeing him, the replay rate of the TV station could compete with the Spring Festival Gala, and at that time, directors approached him to film costume dramas, offering pay three times that of contemporary actors, and brands wanted to invite him to be a 'health product spokesperson,' contracts were handed to him.

In the crypto circle, this is like a potential coin with 'strong consensus across the network' right after it launches: no need for too much marketing, everyone recognizes it, and the monetization path is clear.

Chen Lihua's Fuhua Group + Rosewood Museum is a 'centralized asset pool.' At that time, Fuhua had already secured land in Wangfujing, and the Rosewood Museum housed thousands of rosewood furniture pieces, with single pieces valued at over a million — but the 'private key' of this 'asset pool' was only in Chen Lihua's hands.

The essence of this marriage is actually a transaction where the 'IP holder' joins the 'centralized ecosystem': Chi Zhongrui actively gave up the 'right to monetize the IP independently' — turning down all scripts and endorsements, completely exiting the entertainment circle; what he got in return was 'an identity in the ecosystem': Mr. Chi beside the chairman of Fuhua Group, the 'image spokesperson' of the Rosewood Museum.

But if you check the business information, you will know: in the shareholders' list of Fuhua Group, Chi Zhongrui's name is not present at all; the legal representative of the Rosewood Museum is Chen Lihua's daughter, and he doesn't even have a supervisor position. In plain terms, he is the 'face in the ecosystem,' not the 'controller of the assets.'

People in the crypto circle see through it at a glance: '58 billion' is the book value, 'selling luxury houses' is the liquidity crisis.

I've been in the crypto circle for 10 years, and I understand one thing best: 'No matter how big the book numbers, if there's no control, it's all fake.'

This is exactly the same as the tactics of many crypto projects: externally boasting 'market value of hundreds of billions,' but the private key of the core wallet is only in the hands of the founder. As a holder, don't even think about changing contract parameters, and even withdrawing over 100,000 U requires his manual approval — Chi Zhongrui's '58 billion family assets' are just this kind of 'book value.'

He can attend family banquets and speak at museum events, but his words don't count: which piece of land Fuhua Group will take and which item the Rosewood Museum will sell, he cannot interfere; even rumors of 'Chen Lihua changing her will' further indicate that he doesn't even have stable 'control rights' for the future.

Later, he came out to sell houses and live-stream selling rosewood bracelets, which was not 'out of boredom,' but because 'the centralized ecosystem encountered a liquidity crisis.'

Think about it, such a large venue as the Rosewood Museum, just the electricity bill for the constant temperature and humidity system is over a hundred thousand per month, plus security and labor for cultural relic maintenance, it can't hold up without a few million a year; during the bad market conditions a few years ago, Fuhua Group's property sales rate dropped by half — all the pressure of these 'asset pools' ultimately fell on the 'image spokesperson.'

It's like when the TVL of a crypto project continues to decline, the project party pulls out an 'ecosystem spokesperson' to go live and 'talk about value': Chi Zhongrui selling luxury houses is 'to attract new buyers for the property,' and selling bracelets is 'to replenish the museum's liquidity.' He is not 'consuming the Tang Seng persona,' but filling the liquidity gap in a 'centralized ecosystem.'

Comparing with another 'Tang Seng': who holds the IP private key, who is the real winner.

Compared to Chi Zhongrui, another 'Tang Seng,' Xu Shaohua's choice resembles 'decentralized operation' in the crypto circle more closely.

Xu Shaohua didn't marry into a wealthy family and has relied on 'Tang Seng IP' for commercial performances over the years: a couple of years ago at a shopping mall opening in a third-tier city, he sang (Where is the road) in his monk robe, with an appearance fee of 200,000, and after singing, he took the money and left; sometimes he accepts an opening event, earning 50,000 in half a day, and the money goes directly into his pocket.

Some say he is 'mercenary,' but I think he lives wisely: he holds the 'private key of the Tang Seng IP' — when to monetize and how much to monetize is entirely up to him. Even if he earns 'quick money,' the control is in his hands, and he doesn't have to look at others' faces.

And what about Chi Zhongrui? His 'IP monetization' has to follow the rhythm of the 'family asset pool': when the asset pool needs to sell houses, he has to talk about the occupancy rate; when the asset pool needs to sell bracelets, he has to introduce rosewood craftsmanship in front of the camera. He is like a 'token locked in the project,' when it can be monetized and how much can be monetized depends entirely on the 'project party (family)' mood.

Have you ever stepped into the pit of 'book wealth'? Share your experiences in the comments.

In the crypto circle, we encounter the 'Chi Zhongrui-style trap' every day:

  • Rushing towards projects with 'celebrity endorsements,' believing that 'backing a big shot is definitely safe,' but forgetting to check 'who holds the private key' and 'who has governance rights';

  • Hearing 'hundred billion market value' makes one excited, without even clarifying 'how much is the actual circulation' and 'who holds the core assets';

  • Believing in 'the big shots flaunting their hundred billion holdings,' when he was asked to reveal his wallet address, he made excuses saying 'to protect privacy';

  • Chasing 'projects recommended by KOLs,' only to find out that the KOL couldn't even explain the 'smart contracts' in the project white paper.

Just like everyone laughs at Chi Zhongrui for needing to sell houses despite having '58 billion,' the real joke is on themselves — don't we often focus on 'book numbers' excitedly while neglecting that 'control is real hard currency'? All 'wealth without control' is 'bubble that can evaporate anytime'; all 'identities relying on others' ecosystems' are 'roles that can be replaced at any time.'

Share your experiences in the comments: have you ever stepped into the pit of 'persona greater than strength' in crypto? Were you cut by 'the big shots flaunting their holdings,' or did you trust the 'celebrity-endorsed' projects?

Follow me, in the next episode, I will directly expose 3 'seemingly safe but buried with landmines' crypto projects — using the logic of Chi Zhongrui's 'centralized family ecosystem' to help you clarify 'who holds the private key' and 'who has governance rights,' so you can avoid the traps of 'book wealth' and truly understand the survival rules in the crypto circle.

Do you want me to help you supplement a few real pitfall cases in the crypto circle, like 'the big shots flaunting holdings but not disclosing addresses' or 'stars endorsing projects that run away,' to make the content more relatable? #加密市场回调