Behind Jay Chou's billion-dollar cryptocurrency dispute, a complete picture of celebrity encryption investments.

A Bitcoin investment dispute involving over 100 million New Taiwan Dollars has pushed the friendship between Jay Chou and magician Cai Weize to the brink of collapse, exposing the hidden encryption investment landscape of the celebrity community. From the代持迷局 to the NFT crash, beneath the glamour, the operational logic and harsh realities of the high-risk market come to light.
1. Core Event: Cai Weize's "Disappearing Magic"
In October 2025, Jay Chou posted an Instagram "missing person notice" to publicly seek his missing magician partner Cai Weize, unveiling the beginning of their investment dispute worth over 100 million New Taiwan Dollars in Bitcoin.
· The Proxy Holding Dilemma: Cai Weize, leveraging his dual identity as a "friend" and a "encryption player," obtained the authority to proxy hold substantial funds for Jay Chou. Behind this lies a common predicament faced by celebrities: despite having considerable capital, they are constrained by time and expertise, making reliance on "acquaintances" for proxy holding a high-risk shortcut.
· Cause of Collapse: Investment losses are likely the direct trigger. Cai Weize may have exacerbated losses due to aggressive operations, while also potentially falling into multiple debt crises, ultimately choosing to "disappear" to evade accountability from all parties and potential legal risks.
· Warning: The incident exposed the vulnerability of celebrity investments relying on "personal connections" rather than standardized contracts, as well as the enormous difficulties in protecting rights in the regulatory gray areas of encryption assets.
2. Typical Sample: The Surge and Plummet of Jay Chou's "Jay Chou Bear" NFT
Jay Chou's connection to the encryption market goes far beyond this; his "Jay Chou Bear" NFT project is a classic case for observing the rise and fall of celebrity NFTs.
· Wealth Creation Myth: At the beginning of 2022, PhantaBear NFT leveraged the endorsement of Jay Chou and a group of celebrities to attract attention, combined with the frenzy of the NFT market at that time, selling 10,000 pieces of collectibles in 40 minutes, instantly generating over 62 million RMB.
· The Truth About the Plunge: As the encryption market turns bearish, the price of "Jaylen Bear," lacking substantial value support (such as unfulfilled stake commitments), has plummeted 96% from its peak. After the initial hype brought by celebrity endorsements fades, the project's value quickly returns to its true level.
· Continuous attempts: Despite facing setbacks, Jay Chou's team is reportedly still planning new NFT projects, indicating that the encryption market remains an indispensable new field for stars in terms of traffic and monetization.
3. Group Image Scan: Different Investment Strategies of Celebrities
In the trials of the encryption market, different stars exhibit distinct investment styles and results:
1. Brother Ma Ji, Huang Li Cheng: Aggressive leverage player
· Known for high-risk, high-reward short-term leveraged trading, it has set records for making tens of millions of dollars in profits in just a few days, but has also suffered massive losses of tens of millions due to sudden market fluctuations.
· It demonstrates the extreme speculative mindset of treating encryption investment as a high-risk "game."
2. JJ Lin: A steady long-term planner
· Early purchase of virtual real estate in the metaverse and holding top NFTs such as BAYC to build a diversified encryption asset portfolio.
· The investment logic focuses more on long-term value and ecological layout, with a stable style, resulting in relatively small losses during market fluctuations.
3. Yi Nengjing: An Innovative IP Empowerer
· Try to combine fan economy with Web3 through the OurVerse NFT project, granting holders voting rights and other community benefits.
· Explored new monetization models for celebrity IPs, but high pricing and the implementation of rights have also sparked controversy over "cutting leeks."
IV. Reflection on the Craze: Motivations, Risks, and Future
· Reasons for Collective Entry:
· Capital Pursuit of Profit: The astonishing wealth creation effect previously displayed by the encryption market has a huge attraction for celebrities with idle funds.
· Circle Effect: In celebrity communities, encryption investment has become a form of "social currency" and a trend.
· Model Innovation: NFT and other tools provide stars with new ways for IP digital monetization and enhancing fan loyalty.
· Unavoidable risks:
· Market Volatility: The prices of encryption assets fluctuate dramatically, which may lead to significant losses and resulting public opinion crises.
· Compliance blur: Global regulatory policies remain unclear, and there are legal risks associated with celebrity participation.
· Trust Crisis: Project failures can easily trigger backlash from fans, damaging personal reputation and commercial value.
· Information Manipulation: Celebrity influence may be exploited to drive up asset prices, inadvertently becoming an accomplice in "cutting leeks."
· The Way to Break the Impasse:
· For celebrities: A professional and prudent investment system should be established, shifting from "chasing trends" to "value investing," while strictly adhering to compliance bottom lines.
· For the industry: There is an urgent need for a clear regulatory framework to be established to combat chaos and protect investors.
· On public opinion: It is necessary to view it rationally and focus on the project's real value rather than the star halo.
Conclusion
The dispute involving Jay Chou and the plummet of "Jay Chou Bear" is merely a microcosm of the crazy wave of celebrity encryption investments. Between frenzy and rationality, celebrities as public figures must bear more responsibility for their own capital, fan trust, and the future of the industry. Only when the market returns to the essence of value creation can this cross-border exploration mature and lead to a win-win situation.

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