JPMorgan basically just said decentralized platforms like $HYPE are cooked because regulated US exchanges are about to eat their lunch

Classic TradFi cope tbh. They've been saying this for years and DEXs keep growing

But ngl they have a point — regulation is coming whether we like it or not. The question is can DEXs adapt fast enough or will they just get stomped by Coinbase and friends who already play nice with the SEC

Hyperliquid's been crushing it but if US institutions can't touch it legally that's a massive ceiling on growth. You can't build a trillion dollar platform if half your potential users are scared of getting rekt by regulators

Still betting on decentralization long term but short term? Yeah it's gonna be messy