According to a report by Jinse Finance, Ray Youssef, the founder of the NoOnes app, pointed out in an interview that even though financial institutions have now entered the crypto assets field, the "overly enthusiastic investor mentality" that led to excessive investment in early internet and technology companies during the internet bubble burst has not disappeared. He said: "The narrative of crypto assets holdings has become a significant feature of the current market cycle, which is very similar to the investor sentiment during the internet era from the late 1990s to the early 2000s — the internet bubble back then caused the stock market to fall by about 80%."