cex

Evan Cheng and Stephen Mackintosh said 2025 marked a turning point for institutional adoption, with tokenization and agentic commerce emerging as the next frontier.
Post the Genius Act, we’ve seen so much more institutional demand and awareness for what the promise of crypto could deliver,” he said, particularly around tokenization and stablecoins.
While sentiment has fluctuated, Mackintosh argued the structural shift is clear. “The market, despite all of the sentiment being low, has never been greater,” he said, citing record options volumes and the entrance of major firms such as Citadel and Jane Street into crypto markets. He described a long-term trend in which “the biggest institutions in finance in the world” are investing in infrastructure and talent to capture market share.
Mysten Labs CEO Evan Cheng framed the next phase as convergence rather than competition between traditional finance and decentralized finance. In his view, TradFi products often operate on “T+1 or T+whatever,” while DeFi is “T+0”—a “strictly better product” in settlement terms.
The convergence, he suggested, will emerge through tokenization. “You acquire [an asset] and immediately you can collateralize and borrow against it,” Cheng said, enabling DeFi strategies layered on traditional exposure.
On whether ETFs compete with DeFi, Cheng said products will evolve. Institutional on-ramps may begin conservatively but could incorporate yield or other on-chain mechanics over time.
Both executives emphasized infrastructure as Sui’s differentiator. Mackintosh described Sui as “a differentiated proposition” built by former Facebook engineers behind Libra, offering low latency and high throughput suited for emerging use cases such as “agentic commerce”, the intersection of AI and onchain transactions.
#CEX
#TheGenius
#ETF
#cplwatch
#usnonFarm

L'industria delle criptovalute si trova ancora una volta di fronte a un dibattito familiare:
Le borse centralizzate dovrebbero elencare ogni memecoin di tendenza, o dovrebbero agire come custodi per proteggere la credibilità del mercato?
Questa discussione va ben oltre l'elenco dei token. Tocca il cuore di ciò che rappresenta la crypto: libertà, responsabilità e legittimità.

Il Problema: Elenchi a Breve Termine contro Fiducia a Lungo Termine
Le borse centralizzate (CEX) sono spesso criticate per elencare aggressivamente memecoin di bassa qualità per catturare l'interesse a breve termine dei consumatori. Questi token possono generare volume e commissioni, ma possono anche:

Nel mondo delle criptovalute, gli exchange svolgono un ruolo da ponte tra acquirenti e venditori. I due tipi di exchange più comuni oggi sono gli exchange centralizzati (CEX - Centralized Exchange) e gli exchange decentralizzati (DEX - Decentralized Exchange).

Entrambi hanno vantaggi e svantaggi, soddisfacendo diverse esigenze degli utenti. Questo articolo ti aiuterà a comprendere le differenze tra questi due modelli e come influenzano il futuro della finanza digitale.