Crypto Exchanges Face Structural Ceiling Amid Regulatory Challenges

Bitget's CEO Gracy Chen believes that pure crypto exchanges are nearing a structural ceiling. In an interview, she stated that centralized exchanges must expand into traditional assets and compliance-driven models to remain competitive.

Crypto exchanges have been growing rapidly, but Chen warns that the pace may moderate as platforms like Robinhood absorb incremental demand. She also notes that traditional banks are entering 24/7 settlement and tokenized deposit markets, challenging exchanges' historical liquidity advantage.

Bitget has repositioned itself as a 'Universal Exchange,' offering crypto alongside U.S. equities and other global assets tradable via stablecoins. Chen emphasizes that the transition is operational, not cosmetic, and requires positioning the whole company in the same direction.