I recently discovered a very interesting observation, Kraken Exchange seeks IPO listing, Coinbase is seeking to purchase Deribit, currently the largest options platform in the cryptocurrency market. In fact, they are essentially doing one thing: increasing the asset classes of their own exchanges. At present, the exchange is facing a significant ceiling. The existing encrypted assets have already hindered the growth of trading volume and user base, and cannot achieve economies of scale. After so many years of construction, users who should play encryption have basically settled down. However, it is difficult to increase the trading volume of newly added encrypted assets, as coins cannot be issued indefinitely, which is essentially a form of self harm. The ultimate solution is to break through outward. Because you don't break through, the periphery is also trying to erode, such as Robinhood. Where is the breakthrough point‘ Add new asset categories. For example, options, such as tokenized US stocks and US bonds. And all of these require compliance, fully complying with the regulations and rules of the US SEC. Since the US began pricing the cryptocurrency market, through regulatory frameworks, it is gradually forming its own cryptocurrency financial protection circle. I guess there will only be two types of cryptocurrency exchanges in the future: one will still be the traditional single asset cryptocurrency exchange; One type is a new type of exchange that owns US stocks, US bonds, traditional financial derivatives, and encrypted assets. 🧐