WHAT HAPPENED TO THE REVOLUTION?

Summary from the TLDR Crypto newsletter

The original promise of cryptocurrency—financial sovereignty—has been eclipsed by an emphasis on infrastructure over native monetary design. DeFi has gravitated toward dollar-denominated stablecoins and institutional adoption. Lacking mechanisms for supply, stability, and credit management, tokens like BTC and ETH have ceded ground to traditional financial models. Layer-1 tokens are increasingly commoditized, risking long-term value erosion. Reviving the crypto revolution requires building tokens with complete monetary systems rather than simply creating better rails for existing money.