Crypto's Price Rally Hides a Bigger Truth: The Industry's True Impact

Crypto's recent price rally has sparked debate about whether the industry's struggles over the years were worth it. Bitcoin and Ethereum have seen significant gains, but many of the companies that helped build crypto's foundations are no longer around to enjoy the latest pump.

BitMEX, one of the industry's first Bitcoin futures exchanges, is shutting down in September after 11 years. Its former CEO, Stephan Lutz, says the exchange was a victim of its own success.

Lutz believes crypto can't simply disappear because the technology has become too deeply embedded in traditional finance to be unwound.

Utkarsh Ahuja, founder of Moonshot Capital, agrees that crypto proponents have not wasted their lives. He points to the industry's impact on payment rails, settlement, and tokenization.