Binance CEO @cz_binance says the crypto industry is too transparent:
"I think right now the crypto industry is too transparent. It's actually extremely easy to track crypto funds. The blockchain is a public ledger. If you couple that with a few centralized exchanges, KYC information, you can track most of the transactions pretty accurately. So I think right now there's a lack of preserving of privacy."
"For example, if your company pays everybody in crypto and if you get one payment today on the blockchain, you can just trace to the address that paid you and see how many addresses that address paid in the last week, then you can figure out everybody's salary. That's a privacy issue."
"Another example, if you pay for a hotel [in crypto], then people will know that you're going to stay at that hotel, which for some people may create security issues. So there's little problems like those that are not solved yet."
🚨 ALERT: According to WuBlockchain, crypto hiring has dropped ~80% year-over-year to just 6.5 new jobs per day as major firms like Crypto. com, Gemini, and Algorand cut staff.
The primitives are all there:
• Drift’s vault program (open source, audited)
• Jupiter for spot swaps
• Pyth for oracle prices
• Funding rate APIs for monitoring
Someone just needs to wire them together.
If you’re interested in this space, follow along — I’ll be sharing more on the build.
This is exactly what Ethena does with USDe — $7.6B TVL.
But Ethena uses centralized exchanges (Binance, OKX) for the short leg. You’re trusting a CEX with your collateral.
A fully on-chain version on Solana using Drift doesn’t exist as a permissionless, self-serve product.
That’s the gap.