On February 21, PANews reported that Evgeny Gaevoy, the founder of Wintermute, a crypto market maker, recently spoke on the podcast #CryptoPlaybook of Fortune magazine, stating that despite positive developments in the industry, such as government and Wall Street support for blockchain, the crypto industry is gradually being dominated by the mindset of "the numbers must go up," deviating from the original cypherpunk ideals. Bitcoin was originally designed to build a decentralized monetary system, free from government and bank control, but the current direction of the industry revolves around financialization and speculation. The crypto industry should return to the cypherpunk spirit in the future, rather than fully integrating into Wall Street.

Furthermore, regarding the debate between Ethereum and public chains like Solana, Evgeny Gaevoy pointed out that the market has overlooked the core issue: the real-world adoption of decentralized applications is still very limited. Although the total value locked (TVL) in Ethereum exceeds $120 billion, most of it is "stagnant capital," with a very low rate being integrated into real economic activities, still negligible compared to the traditional financial system (TradFi).