The internet is getting to experience what Crypto has had to endure for a decade. Crypto just like all online businesses is built on code. For the last decade the only reason Crypto was targeted was unit economics. In short, large hacking groups operate like a business, on risk/reward. „it’s going to take us an average of $20k with a winrate of 10% to find an exploit, but the reward is a clear $10 million“ Over time the expected value pays off and the transparency Crypto provided in regards to the payoff made it a massive target. Furthermore the transparency of the technology made it a global target, with tens of thousands and years of defense to protect against attacks. The unit economics have now shifted. Each passing quarter, the cost to hack is decreasing exponentially and thus the balance between cost * win rate against the payoff is changing. Expected Value= (Win Rate * Average Win )-(Loss Rate * Average Loss}) In short, each passing day, the expected value ratio between going for Crypto vs the old tech stack is shifting. Hacking/exploiting crypto, that has played defense as one of its core missions, is becoming increasingly harder to do then attacking the regular online world. Not only that but Crypto becomes a real security proposition in a world where the cost to defend increases exponentially. Growth in liquidity, adoption, lower fees, gains in speed, network effects, new products and more all come on top. Finally AI is not only shifting the unit economics but it’s also prime to use blockchain for micro-transactions, composability and custom higher velocity products. The balance is shifting in favor of Crypto from almost all angles. Macro to Micro, the incentives are aligning. The times are dynamic, volatile and full of risks, but I believe the longer term path is clear.