Let me share an experience from attending an overseas event held by a leading exchange.

When it came time to apply for a Japanese visa, a bunch of people in the group were discussing qualification issues. It turned out that nearly half of the participants couldn't even provide proof of a 100,000 yuan deposit and had to find alternative ways to get their visas.

This was pretty surreal—on social media, people are always showing off their earnings and telling stories, with ads everywhere claiming annual incomes of a million yuan. But when it comes to proving their actual assets, many are actually quite strapped for cash.

So don’t be fooled by those anxiety-inducing numbers. The real situation for people surviving in the crypto circle is probably a lot more down-to-earth than you imagine.