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 driven by the Terra collapse, Three Arrows Capital, FTX, and filled with fraud and excessive speculation, the current bear market exhibits very different characteristics. This cycle is more like a “Traditional Finance (TradFi) Bear Hug,” where, amid warmer regulation and the accelerated entry of mainstream financial institutions, the crypto industry was once seen as a new financial infrastructure. However, it has also, to some extent, 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 gaps, in the long run, freedom and innovation will return and drive the next wave of development.
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