Wintermute CEO: The public chain rivalry is a false proposition; crypto is losing its way

MarsBitNews · 2026-02-05T12:05:07+00:00

Wintermute CEO Evgeny Gaevoy stated on X that competing public chains like SOL and ETH are meaningless, as there is currently a lack of significant on-chain events, and stablecoins remain centralized intermediaries. He is optimistic about the future of blockchain, believing that the market will weed out speculators and retain true believers.

MarsBitNews

2026-02-05 12:05:07

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Mars Finance reports that Wintermute CEO Evgeny Gaevoy posted on X platform stating that the competition among public chains like SOL and ETH is meaningless, as there is currently nothing truly significant happening on any chain, and no one is winning. Stablecoins remain essentially centralized intermediaries; existing blockchains, especially perpetual contract exchanges, cannot scale to CME levels due to risk engine bottlenecks; cryptocurrencies like Bitcoin have lost their way in “price appreciation,” with institutions leading to replace idealism, only Vitalik still holding onto his original vision; additionally, token designs (buybacks, lock-ups, airdrops) have completely collapsed. However, he remains optimistic about the industry, believing the market is moving away from the frenzy of “Trump pump” and will cleanse speculative traders, leaving true believers.

SOL-12,8%

ETH-10,17%

BTC-10,52%

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