The money didn't disappear; it just flowed from retail investors' pockets into the Trump family's wallets.

In this interview segment, Eric inadvertently unveiled the cruel truth of this cycle.

The TRUMP memecoin's market cap once surpassed ETH — during that period, how many retail investors FOMO'd at the peak, only to be left holding the bag at the top?

The NFT craze made fortunes — that was precisely when countless little pictures went to zero.

WLFI stablecoin projects had the fastest growth — but the prosperity of stablecoins corresponded to a redistribution of on-chain liquidity.

American Bitcoin mining went public on Nasdaq — miners struggled through the bear market until bankruptcy, while the real money went to those selling shovels.

The most heart-wrenching part of this statement is when he said "we did the 3 most successful projects." Project success means someone took the bag.

And the ones taking the bag were precisely those retail investors who thought they could get rich quick off the "Trump concept."

On one side, the family made away with $1 billion; on the other side, countless small retail accounts got bled dry in the volatility.

This is the survival law of crypto: during bull markets, everyone thinks they're a genius; only when the tide goes out do we discover that money simply flowed from one pocket to another.

The Trump family understood the essence of this cycle — don't bet on direction, just provide services. Token launches, mining, stablecoins — it's all the business of selling water.

While retail traders are still guessing which way the price will go.