Mayo Shen

It feels like there's some more fundamental issues within the crypto industry now.

Based on what I'm talking, like everyone I'm talking to in the crypto industry, there's a crisis of faith, right?

Like, you know, digital currencies like promise of like, we build this like internet, like internet money.

And that's kind of disappearing because like when prices are going down of asset class that's supposed to be going up, that's like really hard to sell at the moment.

Yes.

Yeah, not just Bitcoin as a digital gold, also other cryptocurrencies, right?

Like you see like Ethereum, Solana, all these blockchains and crypto are supposed to sort of rebuild the Wall Street and rebuild FinTech and Neobank and whatsoever.

But that's not really happening right now.

Even if they are happening as we're seeing some adoption from Wall Street, for example, right?

We saw big institutions are getting into the space, but that's also not affecting prices.

I think that's a bigger puzzle for the industry to resolve at the moment.

I think the issue is that Bitcoin is supposed to be the digital gold.

But what's happening, again, as I just mentioned to Caroline, that is we have this digital gold, that price is supposed to go up.

But we are seeing that gold and silver prices are going up.

Meanwhile, Bitcoin is selling.

That's the issue of crypto, right?

You don't have a fundamental happening right now that's proving what all the Bitcoin fans are trying to sell to the market at the moment.