[CZ on the Crypto Treasury Model: Feasibility is Clear, Management Team and Execution Capability are Key] On December 4, during the 'KOL and Media Interaction' session, CZ stated that the basic logic of the Crypto Treasury (DAT) model is feasible, and its purpose is to help traditional companies gain exposure to crypto assets. CZ pointed out that the sustainability of the DAT model depends on the management team, organizational structure, and management philosophy, with lower management fees being preferable. Although an overheated market may lead to the failure of some treasury companies, stable companies still have room for growth. He emphasized that holding high-quality crypto assets has been one of the near-optimal investment strategies over the past 10-15 years.