The mass adoption of stablecoins, institutional entry, and KYC chains are not victories—they are merely us swapping to a more efficient set of shackles.
Author: Evgeny Gaevoy, CEO of Wintermute
Translated and edited by TechFlow
TechFlow Introduction: Evgeny Gaevoy, CEO of Wintermute, draws inspiration from the “Golden Path” in Dune to pen a rare philosophical manifesto for the crypto industry. He does not discuss price, nor shout “alpha.” Instead, he names names: mass adoption of stablecoins, institutional onboarding, KYC-enabled blockchains—none of these constitute victory. They are merely new, more efficient shackles.
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