Crypto is said to be growing up to look like Wall Street. The evidence in its biggest market points the other way, argues Bitget CEO Gracy Chen. Perpetual futures, or “perps,” are the largest market crypto has built, and they are quietly reversing the story everyone tells about convergence. Crypto is described as maturing toward traditional finance, adopting its discipline around revenue, buybacks and disclosure. In perps, the movement runs the other way: traditional assets are migrating onto a…
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