Pantera CEO: The cryptocurrency industry suffers from Stockholm Syndrome, showing excessive attachment and loyalty to traditional financial institutions and established power structures, even when it may be detrimental to its own growth and independence.

In recent remarks, Pantera CEO Dan Morehead directly stated that the crypto industry has been “tortured by regulation for too long, and has already developed Stockholm Syndrome.”

He mentioned that the period when the SEC simultaneously sued Coinbase and Ripple Labs has made any institution hesitant to bring crypto issues to state legislatures, which is also the reason why the industry has remained in a long-term negative state.

Morehead believes that regulatory attitudes are now starting to become neutral, which is an important turning point. However, what is truly worth warning about is that nineteen out of the top twenty protocols worldwide are no longer based in the United States, which is completely different from the pattern of major companies emerging in the free world during the internet era.

Tom Lee also expressed agreement on-site.