Liquid Capital Founder Jack Yi Emphasizes the Importance of Acknowledging One's Ordinary Nature
Jack Yi, founder of Liquid Capital, posted on social media emphasizing the importance of acknowledging one's ordinary nature. He stated that whether in traditional industries or the crypto sector, his team remains focused on primary investments in Liquid Capital and investment bank Liquid Digital, as well as secondary trading in Trend Research (crypto) and Trend Investment (classical). Although operating projects and exchanges are highly profitable, limited energy and capabilities mean they can only observe and cannot deeply engage in complex operations like market making.
Jack Yi reflected on his experience of incubating market makers in 2018, which led to losses due to team profit distribution issues. After exiting in 2019, he no longer engaged deeply, only making minor investments in outstanding trading teams. He explicitly denied rumors of managing projects, pointing out that exchanges are very aware of this, and reiterated that the core philosophy is to focus intensely on doing one thing to perfection, welcoming collaboration with excellent founders and talents in the fields of crypto, AI, and secondary trading.
Source: Public Information
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This statement highlights the self-positioning adjustments of crypto investment institutions within market cycles. Jack Yi's experience reflects that while a focus on primary investments and secondary trading can avoid operational burdens, it also limits deep participation in high-risk, high-return areas such as market making and project incubation. This boundary awareness stems from actual losses caused by early team incentive imbalances, exposing the long-standing principal-agent conflicts between capital providers and execution teams in the crypto industry.
On a broader level, such public acknowledgment of capability boundaries reflects a structural shift in the industry from early chaotic growth to professional division of labor. In traditional finance, investment banks and hedge funds have already achieved scalability through clear role delineation, while the crypto market, due to fragmented liquidity and information asymmetry, easily fosters an "all-rounder" illusion. Jack Yi's choice points to a pragmatic path: the capital side focuses on judgment and fund allocation, while the execution side is left to specialized teams, thereby reducing systemic risk exposure over the long term.
From a wealth distribution perspective, this focused strategy reinforces institutional stratification. Top-tier capital accumulates pricing power through branding and networks, while most participants still need to delve deeply into specific tracks. Historically, similar shifts often occur in the mature stages of technological financial waves, when early dividends fade and survival logic shifts from opportunity capture to risk isolation and capability matching.
This is not an isolated case but a microcosm of the crypto industry's evolution from "anyone can manage" to specialized division of labor.