A Bitcoin investor, known for purchasing BTC at $235 using student loans, has raised concerns about MicroStrategy's leveraged strategy, warning of potential severe losses in a market downturn. This caution comes as the U.S. SEC and FINRA investigate suspicious trading patterns in crypto financial disclosures, focusing on potential Rule 10b-5 violations. The investigation includes examining unusual stock movements prior to financial disclosures. Amid these regulatory scrutinies, digital asset financial firms are facing sustainability challenges. Several companies have seen their stock prices fall below their net asset values, posing shareholder-driven liquidation risks that could lead to significant crypto sell-offs.