The End Of CEX is not An End For Crypto
This year isn't what we expected it to be for crypto. Most people have prepared themselves for something big in 2023, which is the bull run of crypto.
Well, how's that going now? Not quite well with all that's going on here and there in the cryptocurrency world. However, crypto itself is doing better than before. The market has matured enough to weed out the shitty projects and platforms out of the way. We don't see more about the growth on the trending pages, but when it's bad news for crypto, it's making waves and trending all over the internet.
This creates FUD. For example, the recent USDT drama made people FUD into other stablecoins like DAI. There's nothing wrong with exiting the market when you hear something hideous. However, the more carried away we are by the market news and sentiment, the more we’ll keep having second thoughts about most of our crypto investment decisions.
The lawsuits served to the two largest crypto exchanges are no small thing to not, re-evaluate what you invest your money into.
Some people are now in FUD mode because of assets that may turn out to be securities or not. However, what people don't wait to think about is if any of the moves, propositions, and verdicts made by the SEC, EU and any nation-state is even healthy for any cryptocurrency, security or no security.
This is what we should be asking ourselves. It's not about investing in securities or not. Most of us don't even get to understand the concept behind what security is before FUDing and making our judgement of which token is or may be under the Sec’s scrutiny.
The SEC can serve any Exchange they want. But who they cannot serve are the crypto traders, developers, miners, and investors scattered over the four corners of the world.
This is the power that crypto possesses that isn't printed on the newspaper front pages nor trending on social media today.
What is on our read list and always hits the trending pages is news that definitely will create or store some emotions in people. Some people avoid the news and some read them daily, but for me, I just glance through it.
I think most crypto users just glance through the FUD news or read them to make fun of how far behind organizations like SEC and the incoming MICA framework are.
Reading white papers and blogs is now something you need to do as a crypto user to keep your head straight, or else you tend to make decisions that may get us rekd in the end.
The market is down, but crypto isn't, anyone who has second thoughts due to some widespread news won't be able to survive over the long run.
While many can't see a clear future for crypto if CEX doesn’t exist, some see DEX as the future of a truly decentralized market.
Share your thoughts in the comments. Do you see CEX's demise as the end of crypto, or do you think this is the beginning of DEX's reign?