StarkWare CEO: The Nature of Crypto Bear Market Cycles Has Shifted, From "Fraud Winter" to "TradFi Bear Hug"

CycleProphet · 2026-03-25T05:31:33+00:00

Eli Ben-Sasson noted when reviewing the current crypto market that the current bear market is different from previous ones, resembling more of an impact from traditional finance. Despite short-term innovation momentum being insufficient, long-term freedom and innovation will drive industry development.

CycleProphet

2026-03-25 05:31:33

Abstract generation in progress

Deep Tide TechFlow News: On March 25th, former Zcash co-founder and current StarkWare CEO Eli Ben-Sasson posted on X, reflecting on the crypto cycle. He pointed out that compared to the previous winter of crypto, triggered by events like the Terra collapse, Three Arrows Capital, and FTX, which were filled with fraud and excessive speculation, the current bear market shows very different characteristics. This cycle is more like a “Traditional Financial Bear Hug,” with regulatory warming and mainstream financial institutions accelerating their entry. The crypto industry was once seen as new financial infrastructure, but at the same time, it has somewhat squeezed the original spirit of “economic freedom and experimental innovation.” Although the crypto industry is currently experiencing short-term innovation constraints and leadership gaps, in the long run, freedom and innovation will return and drive the next phase of development.

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