Legacy is Eating Crypto
Charles Hoskinson sent an important message about the state of the crypto industry and existential threats.
Charles Hoskinson sent an important message about the state of the crypto industry and existential threats.
He talked about Bitcoin ETFs, stablecoins, how much power regulated institutions have over blockchains, etc. Is crypto eating legacy (old financial system)? Or is it the other way around? Is legacy eating crypto? Does decentralization or speculation win?
The topics that Charles outlined resonate with our views on the crypto industry. Let's think about the topic. Who eats whom? Cryptocurrencies, especially Bitcoin, were supposed to replace fiat currencies. But that doesn't happen.
Stablecoins occupy only 10% of the market capitalization of all cryptocurrencies. Still, roughly 70% of all transactions on blockchains involve stablecoins. USD-backed stablecoins USDT and USDC dom Read article: Legacy is Eating Crypto
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