cex

Evan Cheng and Stephen Mackintosh said 2025 marked a turning point for institutional adoption, with tokenization and agentic commerce emerging as the next frontier.
Post the Genius Act, we’ve seen so much more institutional demand and awareness for what the promise of crypto could deliver,” he said, particularly around tokenization and stablecoins.
While sentiment has fluctuated, Mackintosh argued the structural shift is clear. “The market, despite all of the sentiment being low, has never been greater,” he said, citing record options volumes and the entrance of major firms such as Citadel and Jane Street into crypto markets. He described a long-term trend in which “the biggest institutions in finance in the world” are investing in infrastructure and talent to capture market share.
Mysten Labs CEO Evan Cheng framed the next phase as convergence rather than competition between traditional finance and decentralized finance. In his view, TradFi products often operate on “T+1 or T+whatever,” while DeFi is “T+0”—a “strictly better product” in settlement terms.
The convergence, he suggested, will emerge through tokenization. “You acquire [an asset] and immediately you can collateralize and borrow against it,” Cheng said, enabling DeFi strategies layered on traditional exposure.
On whether ETFs compete with DeFi, Cheng said products will evolve. Institutional on-ramps may begin conservatively but could incorporate yield or other on-chain mechanics over time.
Both executives emphasized infrastructure as Sui’s differentiator. Mackintosh described Sui as “a differentiated proposition” built by former Facebook engineers behind Libra, offering low latency and high throughput suited for emerging use cases such as “agentic commerce”, the intersection of AI and onchain transactions.
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#TheGenius
#ETF
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#usnonFarm

Krypto industrija atkal saskaras ar pazīstamu diskusiju:
Vai centralizētajiem biržām vajadzētu iekļaut katru populāro memecoin, vai tomēr viņiem vajadzētu rīkoties kā vārtsargiem, lai aizsargātu tirgus ticamību?
Šī diskusija pārsniedz tokenu iekļaušanu. Tā skar to, par ko krypto ir — brīvību, atbildību un likumību.

Problēma: Īstermiņa iekļaušana pret ilgtermiņa uzticību
Centralizētās biržas (CEX) bieži tiek kritizētas par agresīvu zemas kvalitātes memecoin iekļaušanu, lai piesaistītu īstermiņa mazumtirdzniecības interesi. Šie tokeni var radīt apgrozījumu un maksas, bet tie var arī:

Kriptovalūtu aktīvu pasaulē birža kalpo kā tilts starp pircējiem un pārdevējiem. Divi vispopulārākie biržu veidi šobrīd ir centralizētā birža (CEX - Centralizētā birža) un decentralizētā birža (DEX - Decentralizētā birža).

Abi ir savi plusi un mīnusi, kas apkalpo dažādas lietotāju vajadzības. Šis raksts palīdzēs jums labāk saprast atšķirības starp šiem diviem modeļiem un to, kā tie veido nākotni digitālajā finanšu jomā.