Garrett Jin, who sold more than $4.23 billion BTC to ETH before the plunge, wrote: The biggest problem in the crypto field is that most projects have no cash flow. In contrast, TikTok sold for $14 billion in the United States, while many crypto projects without cash flow are valued at tens of billions of dollars. This allows funds to be diverted from core assets such as Bitcoin and Ethereum.
At the same time, trading platforms and stablecoins are extracting tens of billions of dollars in profits from the entire industry each year without injecting healthy capital back into the market. As a result, the market is illiquid and lacks the ability to move up.
Garrett Jin: Trading platforms and stablecoins siphon off tens of billions of dollars a year without returning capital to the market
2025-10-14 06:43:48
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