When the Bitcoin spot ETF was approved half a year ago, everyone felt that a violent bull market was coming. At that time, a colleague told me that he felt that this bull market came in a twisted way. There was no interesting innovation or narrative in the industry, but a lot of people were calling for a crypto revolution. Now it seems that he was right.
Looking back, the cryptocurrency world at that time was like taking heroin, and ETF was the last sip.
After communicating with my peers over the past six months, I found that after a series of industry institutions collapsed last year, the cryptocurrency circle has become more open to words like "plate" and "Ponzi" and has begun to fully embrace scams. Once when I was having dinner with a VC friend, he half-jokingly told me that "now calling a project a Ponzi is a compliment," but when I thought about it carefully, I found that it was indeed the truth.