Matt Hougan, Chief Investment Officer at Bitwise, criticized the U.S. exchange committees that have objected to OKX's proposed crypto exchange initiative (OKXICE), arguing they lack incentive to approve pioneering products. "Committees exist to say no … and they are not seeing any upside to be a pioneer on the U.S. exchange," Hougan said. He noted that committee members can identify potential downsides, such as pricing irregularities, while facing no cost for opting out of approval decisions.