Regarding the claim made by a well-known scholar about the University of Chicago's massive losses in cryptocurrency investments, it indeed sounds sensational. It is rumored that the university's endowment fund, under the advice of a Nobel laureate, ventured into crypto assets, ultimately losing over six billion dollars.

But the data contradicts this. The University of Chicago's endowment fund totals only $10.9 billion, and its crypto exposure accounts for less than 1%. Based on this proportion, even if all investments were lost, it would far from reach the $6 billion level. This indicates that the circulating story has serious flaws, possibly due to misinformation or exaggeration.

What’s interesting about this case is that it reflects a common issue in crypto investing: celebrity effects can easily create rumors, while real data is often ignored. Even the most savvy institutional investors cannot escape market volatility; the key lies in exposure management and risk control. It seems that rather than listening to stories, we should look at the books.