The Block Executive: A major characteristic of this cycle is the absence of new CeFi companies entering the field

TheBlock executive Frank Chaparro stated on platform X that an interesting aspect of this cycle is the absence of new CeFi companies (brokers or lending institutions) entering the market. In other words, there are no new firms similar to BlockFi or Celsius raising funds. There are some hybrid businesses in the market, but most innovation is not about introducing financial services into the cryptocurrency field, but rather applying cryptocurrency technology to traditional finance and even broader fields.