Recently, the cryptocurrency stocks in Hong Kong, led by Guotai Junan, have gained significant attention. Many in the crypto community are aware of this; some regret not buying in earlier, while others regret not having the channels to purchase. Many are trying to get in, all wanting to share the profits.
From the perspective of the group leader, this has increased the visibility of the crypto community in the short term, but in the long run, it is very detrimental to the crypto space. This surge also signifies that traditional finance has fired the first shot in swallowing the crypto world. In terms of funding volume, technical teams, and various aspects, they can easily crush us. Therefore, what I see in this event is a crisis for the crypto community. Perhaps in the future, only BTC will remain, and it will be particularly expensive with very low volatility, making it impossible for ordinary people to make money.
Why do I say this? Those well-informed should know the current major hotspots in the crypto world: US stocks on-chain, various countries preparing stablecoins, RWA, etc. Ultimately, the current crypto space lacks a new narrative, but the need to make money continues. Thus, some people want to bring traditional finance's methods into the crypto space to continue harvesting, which is a very terrifying thing. As mentioned above, those in traditional finance have become experts; who can compete with them?
The most terrifying aspect is not the stocks going on-chain, but the foreign exchange going on-chain. When that happens, who will still buy cryptocurrencies? Or many OTC services may face unemployment or have to change careers. At this time, many platforms in the crypto space will likely be co-opted or legally merged. Thus, we are in the best of times and the worst of times.
The crypto world stands at a crossroads. Do you hope the crypto community continues to innovate independently and carve its own path, or do you wish to embrace traditional finance?
