fundamentalresearch

Adobe's CEO transition is a reminder that leadership risk is real—even for giants.

Adobe shares dropped after the company announced its next CEO, while investors also worried about strategic direction and executive changes.

Crypto has an even bigger version of this problem.

A protocol isn't just code.

Leadership, developers, treasury management and ecosystem execution all matter.

When researching a token, I now ask:

Who is actually building this?

Then:

• Are developers still active?
• Is treasury spending sustainable?
• Are users growing?
• Is the roadmap being delivered?
• What happens if the main founder leaves?

A token can survive a bad quarter.

But a weak leadership transition can damage an entire narrative.

The lesson from traditional markets applies to crypto too:

Don't invest only in the product. Understand the people and structure behind it.

#CryptoLeadership #DigitalAssets #FundamentalResearch
$ADA $COTI

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