Wintermute CEO Evgeny Gaevoy has criticized the ongoing rivalry between blockchains like Solana (SOL) and Ethereum (ETH), stating that such disputes are meaningless as no significant developments are occurring on any chain. Gaevoy highlighted that stablecoins remain centralized intermediaries and that current blockchain infrastructures, particularly perpetual contract exchanges, face scalability issues due to risk engine limitations, preventing them from reaching the scale of major exchanges like CME. Gaevoy also noted that cryptocurrencies like Bitcoin have lost their idealistic roots, with institutional dominance overshadowing original visions, except for figures like Vitalik Buterin who remain committed to foundational goals. Despite these challenges, Gaevoy remains optimistic about the industry's future, suggesting that the market is moving past speculative frenzies and will ultimately retain true believers.