Wu said that Arthur Hayes revealed in his latest article "Suavemente" that his trading review and 2026 strategy indicate that the biggest loss last year came from trading after the launch of the token PUMP, with the only profitable Meme trade being TRUMP; the main profit sources were HYPE, BTC, PENDLE, and ETHFI. Only about 33% of his trades were profitable throughout the year, but thanks to strict position control, the average profit of winning trades was 8.5 times that of losing trades. Hayes stated that this year he will focus on medium-term large-position layouts based on macro liquidity logic combined with credible "altcoin" narratives, with entertainment trades significantly reducing position sizes; he believes "privacy" will become the dominant narrative, with ZEC seen as the beta in the privacy track, and Maelstrom having accumulated a large position in Q3 2025. In terms of asset allocation, he plans to sell some BTC to increase positions in the privacy sector, sell ETH to allocate to DeFi, and take profit when oil prices rise and credit expansion slows, while increasing Bitcoin holdings and buying mETH.