The QUBIC takeover of Monero $XMR may be a false alarm.
However, the attention on privacy coins is far less than that on stablecoins like L1 Arc, reflecting that the fundamental narrative logic in the crypto space has shifted; privacy blockchains are quickly being forgotten, much like SBF.
A new generation is replacing the old, as privacy gives way to mainstream adoption.
The crypto industry’s narrative on privacy has finally gone bankrupt💸
It’s lamentable that, whether in Web2 or Web3🛜
Everyone just verbally agrees on privacy, but no one is actually buying into the products
- The Qubic takeover incident involving $XMR has temporarily failed
- Dark pool trading has also been denied by Hyperliquid, citing "on-chain transparency" as the reason
- Technologies like FHE/ZK/TEE are more about self-exile in the token issuance vicious cycle
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