Recently, a news story has been dominating the headlines: Oracle founder Larry Ellison personally provided an unlimited joint liability guarantee for his son’s Warner Bros. acquisition deal, using $40.4 billion of his own wealth. At first glance, it seems like a billionaire family gossip, but upon closer inspection, it actually offers a vivid lesson to the entire financial industry—especially our crypto space.

Here’s what happened: Ellison, in his eighties, has a son, David, who insists on abandoning the software empire to pursue a career in film and even wants to acquire Warner Bros. The board members naturally doubt that this young man has the financial capacity. So what did the old man do? He directly put up one-sixth of his own fortune as a guarantee, promising that his assets would remain untouched during the transaction. In one sentence, all doubts vanished.

Having been involved in crypto for over ten years, my first reaction to this news was: this is the ultimate endorsement we lack. In our usual crypto hype, we hear a lot about “project endorsements,” “institutional support,” and “ecosystem collaborations,” but what’s the result? Projects often fail or run away after launching. Where’s the problem? It’s that most so-called endorsements lack real interest binding—they’re just empty cooperation agreements and photos, mere paper articles.

To truly see if a project is worth engaging with, the key is whether capital has genuinely tied money and risk together. Ellison’s move makes it clear: using his own wealth as a guarantee is the strongest endorsement. Conversely, in crypto, projects that survive bear markets and maintain their market cap—like the Solana ecosystem—mainly rely on strong institutional capital binding. Why do institutions like ARK Fund dare to make large purchases? Because they’ve tied their reputation and returns together, with no way out.

So, a straightforward piece of advice for investors: next time you see a project boasting about endorsements, don’t just listen to the words. Ask clearly—have these institutions and big figures really put their money on the line? Is there a genuine economic interest involved? If it’s just signing an agreement or taking a photo for endorsement, then the credibility of that endorsement is, well, questionable.