Crypto narratives are shifting away from the original cypherpunk vision of decentralization and individual autonomy. According to fintech executives, institutional investors, traditional financial institutions, and centralized companies are increasingly taking the lead in shaping the future of the crypto industry.

This trend is seen with the rise of investment vehicles like ETFs, the increasing interest of big banks in launching their own stablecoins, and the growing focus on real-world asset tokenization (RWA). As these powerful players enter the space, they bring with them a new set of priorities and a different approach to regulation and control, which can create a tension with the founding principles of crypto.

Crypto Narratives Shift: Institutions Take Center Stage

The cypherpunk ethos is taking a back seat as centralized players and financial institutions drive new crypto narratives. With the rise of ETFs and big banks exploring stablecoins, the market is maturing, but is it losing its original soul?

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