Crypto Industry is Turning into a ‘Gambling Den’, According to CryptoQuant CEO

Ki Young Ju, CEO of the analytics firm CryptoQuant, has expressed worry about the current state of the digital asset industry.

In a recent post on X, Ju highlighted his concerns over the decline in innovation within the crypto space.

He points out that many of the influential builders who once drove the industry forward have either disappeared due to strict regulations, legal issues, or have exited after making significant profits.

Ju criticizes the current trend in crypto, suggesting it has become akin to a “gambling den” due to a focus on low-value products like meme coins and traditional, unexciting financial tools.

READ MORE:

Wall Street Expands Into Crypto Despite High Costs and Regulatory Hurdles

He laments the absence of the pioneering builders who once pushed boundaries and fostered technological advancement in the industry.

According to Ju, the crypto sector needs to find ways to reignite excitement and innovation to prevent further stagnation.

He argues that without new, engaging developments, the industry will continue to struggle, and the lackluster performance of many altcoins will persist. Ju warns that unless fresh, stimulating opportunities emerge for both builders and traders, the industry faces a prolonged period of stagnation and decline.

Alexander Stefanov