Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Opinion
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Crypto’s Rock ’n’ Roll Era Is Over
As cryp
Opinion
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Crypto’s Rock ’n’ Roll Era Is Over
As cryp
Crypto’s Rock ’n’ Roll Era Is Over
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
Crypto’s Rock ’n’ Roll Era Is Over
As crypto passes into mainstream use, it’s losing its rebel soul. It may still express rebellion, but won’t be rebellion anymore, says Callon-Butler.
By Leah Callon-Butler|Edited by Betsy Farber
Mar 8, 2026, 7:05 p.m.
Make us preferred on Google
David Bowie At King's Cross. (Photo by Evening Standard/Hulton Archive/Getty Images)
Every revolution eventually becomes the establishment. What began as crypto's peer-to-peer challenge to the global financial order is rapidly being absorbed into the traditional fold, trading its anti-elite soul for the legitimacy of spot ETFs, institutional custody and the same banking frameworks it was built to bypass.
This is a familiar arc. Throughout history, every revolution has begun with the promise of breaking old power structures and dismantling the status quo. Once power is seized, the priority shifts to stability and preservation, transforming ideals into systems. Inevitably, the movement reaches the limits of insurgency, and to survive, it must court what it once shunned: venture capital, institutional trust and regulatory tolerance. This requires conformity, triggering a process of assimilation. As the original liberatory goals are diluted or abandoned, what began as revolution solidifies into orthodoxy. To quote the American historian and philosopher Hannah Arendt, “the most radical revolutionary will become a conservative the day after the revolution.”
In a 1999 interview, the late, great David Bowie described this process, saying that if he were starting out again, he probably wouldn’t have gone into music; he would have worked on the internet instead. The internet, he argued, felt subversive, chaotic and nihilistic. It felt like a force for revolution. It made you feel like you could effect change. Rock ’n’ roll, by contrast, had lost its power. Once a disruptor that shocked people with its sounds, styles, and symbols, it eventually became accepted by the mainstream. He described rock ’n’ roll as a “currency” that was certainly still a conveyer of information, but no longer a conveyer of rebellion.
Bowie’s reflections remind me of how I felt when I got into crypto in 2016, the year he died. At the time, crypto had the internet’s old insurgent energy, while the internet itself (with the FAANG giants of Facebook, Apple, Amazon, Netflix, and Google in control) had become the establishment, trading its anarchic and distributed beginnings for a centralized corporate order.
For us in crypto, it was a time of idealism and loose rules, attracting outsiders and activists, libertarians and anarcho-capitalists, who were widely caricatured as dead-dodgy delinquents surfacing from the depths of the dark web. Any association with crypto felt like a form of dissent in itself.
Inspired by the cypherpunks that came before us, we advocated for a decentralized internet that protected individual privacy from government and corporate surveillance; for sovereign money that couldn’t be exploited by the same actors that razed the system in 2008; and for a digital future where information and transactions could not be stopped. We stood up for those who had long been excluded by the traditional financial system, and we truly believed that power could be re-architected at the protocol layer. It really felt like we could effect change.
I’ve mourned those early days, reminiscing over shonky meetups we hosted over cold pizza and warm beer, running evangelical workshops on self-custody, the place ablaze with laser eyes. These days, the pride we once took in the responsibility of being your own bank has been paved over by the convenience of the ETF. Now, you can get “exposure" without ever learning what a seed phrase is. The conversation has moved from the fringe to the boardrooms inside banks and government buildings, held by doxxed-by-default guys with job titles like Digital Asset Risk Manager and Blockchain Policy Advisor. But this was always the goal, wasn’t it?
The goal of mass adoption was as much a growth metric as it was moral validation for our crazy mission. Mass adoption would prove us right. Although in 2016, we thought “mass adoption” would be our moms using the hot wallets on their phones to buy their daily lattes at their local cafés. In 2026, it’s TP ICAP — the wholesale broker that processes commodities trades to the tune of $200 trillion annually for banks and hedge funds — deciding to route even 1% of that volume through crypto markets. Flows at that scale will dwarf any vision of retail self-sovereignty or utility.
Just as rock 'n' roll was eventually smoothed over into a multi-billion-dollar corporate industry, and a once-decentralized internet became a landscape dominated by a handful of platforms, crypto’s mass adoption dream is coming true, too. As the title of a16z’s annual State of Crypto report put it, 2025 was the year crypto went mainstream. We succeeded in creating something worth protecting, and protection is inherently conservative. We did it. Crypto is the new order.
What was unthinkable in 2016 is now a reality. At Davos this year, crypto had gone from hosting its own self-organized, semi-illegitimate sideline events just a few years ago to taking center stage in the main arena. Heads of state openly compete to claim crypto as a national priority, while the CEOs of the world’s largest banks now speak about it as an existential threat.
The JP Morgans, Blackrocks and Morgan Stanleys of the world are all humming the same tune, touting crypto—particularly Bitcoin—as a legitimate, regulated asset class with the same institutional seriousness as gold and equities. Publicly-traded companies are stockpiling crypto assets on their balance sheets.
Stablecoins are doing more in annual transaction volume than the major payment networks. Tokenized real-world assets are moving from crypto-native experiments into the core plumbing of markets, from funds and treasuries to settlement and collateral, while DeFi is becoming increasingly legible to traditional asset managers, corporate treasuries, and family offices that had been waiting for regulatory clarity and operational maturity. With the GENIUS Act in the U.S. and MiCA in Europe, regulatory gray areas are turning black and white, leaving less and less room for transgression.
Purists will argue that the real goal was to create a parallel economic reality and crypto has merely been bolted onto the existing system. Even so, the movement has introduced primitives that have altered TradFi forever:
- Programmable value shifted trust from institutions into code.
- Instant settlement ended the era of multi-day clearing, dragging money into a 24/7 world.
- Composability turned siloed financial products into interoperable building blocks, breaking down walled gardens and restoring user choice.
- Self-custody gave individuals direct, sovereign control over their assets for the first time.
- Smart contracts replaced intermediaries with transparent, automated rules of engagement.
- New asset classes expanded the investable universe, lowering barriers to markets and instruments.
- Stablecoins democratized cross-border payments, making them fast, cheap and global.
- DeFi proved that lending, trading, derivatives and even insurance can operate entirely without traditional gatekeepers.
Crypto may not have replaced the traditional financial system, but it has fundamentally rewritten its underlying logic, making its impact irrefutable and immutable. By challenging long-held monopolies and forcing incumbents to innovate-or-die, it has effectively forced the establishment's hand. Institutions can adopt, regulate and wrap these primitives, but they cannot uninvent them.
Will crypto stay weird at all? History says most of it will be normalized. Crypto can express rebellion, but it can’t be rebellion anymore.
That leaves the changemakers searching for the next frontier. You can see this shift in the symbols that crypto once rallied around. The laser-eyes meme was born as a provocation, a rallying cry for the belief that Bitcoin would hit $100,000 — which, at the time, was obscene in its optimism. Now the number has come and gone, and the meme itself has been worn by presidents, stripping away its underground edge.
Crypto isn’t shocking to anyone anymore. It’s evolved from counterculture to canon, proving rebellion always migrates to the newest, least understood medium.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race
CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events.
What to know:
- Disrupting a Stagnant Market: Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product.
View Full Report
More For You
The Multibillion-dollar shift turning prediction markets into a professional hedging tool
Traders are moving beyond sports bets and elections to price "unpriceable" geopolitical and policy risks that standard financial tools can’t handle.
Read full story
Latest Crypto News
Bitcoin is still a great way to diversify portfolio even if it trades like a tech stock, analyst says
Market structure state of play: State of Crypto
Oil leaving Middle East trades over $100 a barrel. Here’s how it could affect bitcoin
Tokenized assets exceed $25 billion after nearly quadrupling in a year
Canton’s Yuval Rooz says smart contract blockchains face a reckoning over value gap
Bitcoin dip may not be over as whales sell into retail buying — a bearish signal
Top Stories
Why bitcoin couldn't hold $70,000 despite its best week of Wall Street news in months
Trump's cyber strategy vows to 'support the security' of cryptocurrencies and blockchain
Those who cheered U.S. Bitcoin reserve have spent year watching Trump's order languish
Kalshi, Polymarket seeking $20 billion valuations in fundraising talks: WSJ
Circle moves $68 million in just 30 minutes by using its own stablecoin for internal payments
SEC, Justin Sun reach settlement over Tron lawsuit
Market Opportunity
ERA Price(ERA)
$0.1391
$0.1391$0.1391
USD
ERA (ERA) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Who is Mojtaba Khamenei, Iran’s new supreme leader?
And would he bring change — or more brutal suppression?
Share
Rappler2026/03/09 11:32
S&P 500 under pressure as funds add shorts on Iran risk
The post S&P 500 under pressure as funds add shorts on Iran risk appeared on BitcoinEthereumNews.com. Iran war market impact: U.S. stock market crash risk, hedge
Share
BitcoinEthereumNews2026/03/09 11:14
Crucial Fed Rate Cut: October Probability Surges to 94%
BitcoinWorld Crucial Fed Rate Cut: October Probability Surges to 94% The financial world is buzzing with a significant development: the probability of a Fed rate cut in October has just seen a dramatic increase. This isn’t just a minor shift; it’s a monumental change that could ripple through global markets, including the dynamic cryptocurrency space. For anyone tracking economic indicators and their impact on investments, this update from the U.S. interest rate futures market is absolutely crucial. What Just Happened? Unpacking the FOMC Statement’s Impact Following the latest Federal Open Market Committee (FOMC) statement, market sentiment has decisively shifted. Before the announcement, the U.S. interest rate futures market had priced in a 71.6% chance of an October rate cut. However, after the statement, this figure surged to an astounding 94%. This jump indicates that traders and analysts are now overwhelmingly confident that the Federal Reserve will lower interest rates next month. Such a high probability suggests a strong consensus emerging from the Fed’s latest communications and economic outlook. A Fed rate cut typically means cheaper borrowing costs for businesses and consumers, which can stimulate economic activity. But what does this really signify for investors, especially those in the digital asset realm? Why is a Fed Rate Cut So Significant for Markets? When the Federal Reserve adjusts interest rates, it sends powerful signals across the entire financial ecosystem. A rate cut generally implies a more accommodative monetary policy, often enacted to boost economic growth or combat deflationary pressures. Impact on Traditional Markets: Stocks: Lower interest rates can make borrowing cheaper for companies, potentially boosting earnings and making stocks more attractive compared to bonds. Bonds: Existing bonds with higher yields might become more valuable, but new bonds will likely offer lower returns. Dollar Strength: A rate cut can weaken the U.S. dollar, making exports cheaper and potentially benefiting multinational corporations. Potential for Cryptocurrency Markets: The cryptocurrency market, while often seen as uncorrelated, can still react significantly to macro-economic shifts. A Fed rate cut could be interpreted as: Increased Risk Appetite: With traditional investments offering lower returns, investors might seek higher-yielding or more volatile assets like cryptocurrencies. Inflation Hedge Narrative: If rate cuts are perceived as a precursor to inflation, assets like Bitcoin, often dubbed “digital gold,” could gain traction as an inflation hedge. Liquidity Influx: A more accommodative monetary environment generally means more liquidity in the financial system, some of which could flow into digital assets. Looking Ahead: What Could This Mean for Your Portfolio? While the 94% probability for a Fed rate cut in October is compelling, it’s essential to consider the nuances. Market probabilities can shift, and the Fed’s ultimate decision will depend on incoming economic data. Actionable Insights: Stay Informed: Continue to monitor economic reports, inflation data, and future Fed statements. Diversify: A diversified portfolio can help mitigate risks associated with sudden market shifts. Assess Risk Tolerance: Understand how a potential rate cut might affect your specific investments and adjust your strategy accordingly. This increased likelihood of a Fed rate cut presents both opportunities and challenges. It underscores the interconnectedness of traditional finance and the emerging digital asset space. Investors should remain vigilant and prepared for potential volatility. The financial landscape is always evolving, and the significant surge in the probability of an October Fed rate cut is a clear signal of impending change. From stimulating economic growth to potentially fueling interest in digital assets, the implications are vast. Staying informed and strategically positioned will be key as we approach this crucial decision point. The market is now almost certain of a rate cut, and understanding its potential ripple effects is paramount for every investor. Frequently Asked Questions (FAQs) Q1: What is the Federal Open Market Committee (FOMC)? A1: The FOMC is the monetary policymaking body of the Federal Reserve System. It sets the federal funds rate, which influences other interest rates and economic conditions. Q2: How does a Fed rate cut impact the U.S. dollar? A2: A rate cut typically makes the U.S. dollar less attractive to foreign investors seeking higher returns, potentially leading to a weakening of the dollar against other currencies. Q3: Why might a Fed rate cut be good for cryptocurrency? A3: Lower interest rates can reduce the appeal of traditional investments, encouraging investors to seek higher returns in alternative assets like cryptocurrencies. It can also be seen as a sign of increased liquidity or potential inflation, benefiting assets like Bitcoin. Q4: Is a 94% probability a guarantee of a rate cut? A4: While a 94% probability is very high, it is not a guarantee. Market probabilities reflect current sentiment and data, but the Federal Reserve’s final decision will depend on all available economic information leading up to their meeting. Q5: What should investors do in response to this news? A5: Investors should stay informed about economic developments, review their portfolio diversification, and assess their risk tolerance. Consider how potential changes in interest rates might affect different asset classes and adjust strategies as needed. Did you find this analysis helpful? Share this article with your network to keep others informed about the potential impact of the upcoming Fed rate cut and its implications for the financial markets! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Fed Rate Cut: October Probability Surges to 94% first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 02:25