The goal of the encryption industry has always been to subvert the inherent power structure and organizational form of human society. Decentralization, privacy, freedom, and fairness are all manifestations of this goal from different angles. Therefore, in the process of achieving this goal, there will definitely be conflicts with the vested interests of the old forces. Interested parties have long-term, antagonistic, and difficult-to-reconcile conflicts. The simplest is the way to deal with the governments of various countries, which is often referred to as supervision. Especially after the FTX explosion, even SBF, which has been closest to supervision, has had major problems, implicating many traditional financial institutions. It is conceivable that stricter supervision will definitely be introduced in the future, and it will be on a global scale. .

At that time, the encryption circle will definitely be divided into three factions. One faction embraces regulatory compliance, one adheres to the fundamental principles of encryption, and the other is centrist. The centrist will gradually polarize into the above two opposing camps in the process, so an internal encryption war is inevitable.

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