I don’t think much of Binance, Bybit, and the rest leaving the EU. MiCA is what it is, and they are what they are.
Still, it makes me wonder. If most of your users don’t come from here, why even bother? Sure, you might be losing a political war, but maybe that’s just it. You may also lose the potential of having high-net-worth individuals on your side, but I guess they have already found their homes.
I don’t like institutionalization, especially for a concept that tried so hard to distinguish itself as a new standard. Today, it’s just being standardized.
The retail that made money and is still here is the person who helped build the rails by supporting the winning side. The ones who are not still here are probably happier. And those who stayed, but did not make money, keep falling into the trap of believing this is still the dream of a new order.
The latter are also the ones who begged for institutional money so they could finally exit.
Well, it’s here.
It’s like waiting for rainfall and receiving thunderstorms instead. Dirty ones. Thunderstorms with narratives.
Because at the end of the day, that’s all this is. A battle of narratives. Whose side are you on?
It might be worth making up your mind before you realize you are already part of one, and start questioning your morals once the unsettling thoughts kick in.
“No worries,” says the degen. “It’s gonna be alright after the next Fed meeting.”
I don’t worry because my favorite website just contributed to the next phase of brainrot infestation, my favorite KOL is paid by privacy coins themselves, and my favorite crypto app now offers 0.1% more yield than my very old-school bank.