Gate News, March 25 — StarkWare CEO and former Zcash co-founder Eli Ben-Sasson posted on X reflecting on the evolution of the crypto cycle. He pointed out that compared to the previous “crypto winter,” which was triggered by the Terra collapse, Three Arrows Capital, FTX, and filled with fraud and excessive speculation, the current bear market cycle exhibits very different characteristics. This cycle is more like a “Traditional Financial Bear Hug (TradFi Bear Hug).” Against the backdrop of warming regulation and accelerated entry of mainstream financial institutions, the crypto industry was once seen as new financial infrastructure, but at the same time, it has also somewhat squeezed the original spirit of “economic freedom and experimental innovation.” Eli Ben-Sasson stated that although the crypto industry is currently in a phase of limited short-term innovation and leadership vacuum, in the long run, freedom and innovation will return and drive the next wave of development.
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