Evgeny Gaevoy, founder of crypto market maker Wintermute, expressed concerns about the crypto industry's shift away from its cypherpunk roots during a recent appearance on Fortune magazine's Crypto Playbook podcast. Gaevoy highlighted that while there have been positive developments, such as increased government and Wall Street adoption, the industry is increasingly driven by a "number go up" mentality focused on financialization and speculation, rather than building a decentralized monetary system free from government and bank control. Gaevoy also addressed the debate between Ethereum and other public chains like Solana, noting that the real adoption of decentralized applications remains limited. Despite the Ethereum ecosystem's total value locked (TVL) exceeding $120 billion, he described most of it as "dormant capital," with only a small fraction being used in real economic activities. This, he argued, is negligible compared to the traditional financial system.