Wintermute CEO: The Public Chain Competition Is a False Proposition, Crypto Is Losing Its Direction

According to Odaily, Wintermute CEO Evgeny Gaevoy stated on the X platform that the competition between SOL and ETH and other public chains is meaningless, as nothing truly important is happening on any chain at the moment, and there is no winner. Stablecoins are essentially still centralized intermediaries; existing blockchains, especially perpetual contract exchanges, cannot scale to CME levels due to risk engine bottlenecks; bitcoin and other crypto assets have lost themselves in “price surges,” with institutions replacing idealism, and only Vitalik still holds to his original intentions. In addition, token design (buybacks, lock-ups, airdrops) has completely collapsed. However, he remains optimistic about the industry, believing that the market is moving away from the “Trump pump” frenzy, which will wash out speculative tourists and leave behind the true believers.