StarkWare CEO: The essence of the crypto bear market cycle has changed, from a “cold winter of fraud” to a “traditional financial bear”

Comparing news, Eli Ben-Sasson, the former Zcash co-founder and current CEO of StarkWare, wrote a review of the crypto cycle on the X platform, pointing out that compared to the previous round of the “crypto winter” triggered by events such as Terra crash, Three Arrows Capital, and FTX and full of fraud and excessive speculation, the current bear market cycle shows very different characteristics. This round environment is more like “TradFi Bear Hug (TradFi Bear Hug)”. In the context of warming regulations and the acceleration of entry of mainstream financial institutions, crypto The industry was once seen as a new financial infrastructure, but at the same time, it also squeezed the original spirit of “economic freedom and innovation experiments” to a certain extent. Although the crypto industry is currently at a stage where short-term innovation momentum is limited and leadership is lacking, in the long run, freedom and innovation will return and drive the next round of development.

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