The progress the crypto industry made this cycle is incredible: • Launched spot BTC & ETH ETFs in the US and globally (Hong Kong, Brazil, Australia) • Lobbied for a pro-crypto position in the US. Ousted crypto critics. • Passed the GENIUS Act, FIT21, and ended SAB-121 • Payments players (PayPal, Stripe, Visa, Mastercard) integrated crypto and stablecoins • Robinhood is building an Ethereum L2 • Blockchains scale: Ethereum throughput up, L2 fees at cents, Solana more stable & faster • Circle IPO’d Last cycle was NFTs and DeFi summer. This cycle is institutions, laws, and infrastructure. I feel now is when the real adoption starts.
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