From my observations over the past few years, the next wave in the cryptocurrency space is not AI, not ZK, not DePIN, nor any new Layer 2, but the most primitive, most real, and most naked thing—gambling.
This is not pandering to the crowd, but a conclusion I have gradually confirmed after observing all the cycles of 'bull market → bubble → retreat' over the past few years. You can wrap it in technical language, say that DeFi is financial innovation, GameFi is entertainment-based token economy, and Meme is community-driven value recreation. But no matter how many words you package it with, once you break down the profit model, it is actually all about betting—will this token rise? Will this project succeed? Can I multiply my all-in bet tenfold? These are not investment logics, but gambler logics.
So, who has truly followed this logic to the extreme? The answer is not some top DeFi protocol, nor a new blockchain, but—Stake.com.
When Meme coins turned into Pump.fun, the gamble has already changed hands.
In the past few years, we have seen countless themes rotate. From the ICOs of 2017, DeFi in 2020, GameFi in 2021, to Meme coins in 2023. But these seemingly different trends are actually repeating the same underlying human drive—gambling.
The year when Meme coins exploded, many believed that community-driven initiatives would bring new value logic, but with the emergence of Pump.fun this year, anyone can issue coins and create stories with one click. This is akin to opening the casino doors fully, where anyone can deal and start a table. This is not innovation; it is the end of a bubble.
While everyone is still looking for the next 'new theme', I believe the more important question is: what logic can withstand the tide?
The answer is 'gamble'. And those who truly make money are not the storytellers, but the dealers setting up the game.
Binance: the architect of the casino, yet also the most hard-working innovator
Binance is one of the companies I respect the most; it has participated in the establishment of almost every important track in the cryptocurrency space: centralized exchanges, Launchpads, BNB Smart Chain, stablecoins, DeFi, NFTs, staking services, contract leverage, and everything in between. It was also once the king of revenue in the cryptocurrency space:
In 2021, Binance's revenue reached approximately $20 billion, with estimated net profits of $7.5 billion;
In 2022, revenue still reached about $12 billion, demonstrating strong resilience in a bear market;
Even with increased regulatory pressure in 2023, revenue is still estimated to be about $7.9 billion.
Such results come from the ability to serve the entire cryptocurrency space's 'betting behavior'—Binance is not a gambler, but it has built the largest gambling table, providing the fastest deposits and withdrawals, the most diverse leverage and products, and the hottest Launchpad channels for new projects. It does not bet, but allows everyone to bet.
However, the cost has been heavy. Binance has continuously engaged with global regulatory bodies over the years, from the UK, Europe to the US, with CFTC, SEC, FATF all involved. In 2023, it directly reached a settlement with the US Department of Justice, paying over $4 billion in fines, and CZ himself resigned as CEO as a result.
In essence, Binance is playing the role of a struggling 'future casino architect' trying to legalize itself. It constantly innovates and continuously addresses the regulatory risks brought by new fields.
Stake.com: No storytelling, only the dealer of gambling
In contrast, Stake.com’s approach is much simpler and more straightforward—I am the casino, and I let you gamble with Bitcoin or ETH.
Stake.com was established in 2017, founded by two young individuals, Ed Craven and Bijan Tehrani, who were only in their early 20s at the time. They started with simple dice games like Primedice and eventually built one of the largest crypto gambling platforms in the world. Stake.com does not create chains, issue tokens, or engage in DAOs, nor does it have complex white papers or token economic models—only one thing: let users gamble, and the house takes a cut.
But look at its report card:
In 2022, the Gross Gaming Revenue (GGR) reached $2.6 billion;
Revenue is estimated to exceed $4.7 billion in 2024, an annual increase of nearly 80%;
The Australian parent company Easygo's profits exceeded $200 million;
It is estimated that 2% to 4% of global Bitcoin transaction volume is related to Stake.
Behind these numbers, there are hardly any regulatory lawsuits, no internal power struggles, and no tokens going to zero. It is like a gambling machine with stable output.
More critically, Stake.com acknowledges that the cryptocurrency space is a gamble and chooses to be the dealer, rather than telling dreams.
Wrapped bets vs Honest bets, the essence remains unchanged
Do you think the cryptocurrency space is disrupting finance? In fact, it is a new tool to gamble an old game.
Binance represents 'wrapped gambling': every innovation actually allows people to gamble more, more conveniently, and more diversely; Stake.com represents 'honest gambling': it does not hide, directly sets up the stage for you to bet and takes its cut.
Both are money-making machines, but Stake is not as hard-working and not as fictional. It faces human nature seriously and because of this, it wins more than you can imagine.
Conclusion: The next winner is the one who sees the essence clearly
Today's cryptocurrency space is no longer a dreamland of 'decentralized utopia', but an arena of extreme gambling. Here, those who gamble cannot survive, but those who cannot see the bets do not fare well.
The next track is not a new narrative, but rather who can see through the true nature of the cryptocurrency space and make gambling more stable, ruthless, and efficient. Binance will continue to strive to build the most legitimate casinos globally, while Stake will continue to be the understated winner. And you and I must first answer this question:
Do you want to be the player placing bets or the dealer taking bets?
#SUİ #bnb #幣安
