PANews reported on November 18th that Simon Kim, CEO of South Korean crypto venture capital firm Hashed, wrote that since entering the crypto space in 2015, he has experienced numerous market ups and downs, but this bear market is the first one that hasn't truly terrified him. While looking at his portfolio still stings from the bear market, this one is fundamentally different from previous ones. In past bear markets, there was an existential fear of the complete disappearance of crypto technology and the market itself, with threats such as governments jointly banning crypto assets and new global ledger technologies replacing blockchain being very real. However, currently, regardless of daily price fluctuations, such fundamental concerns have not materialized. Global regulation is gradually evolving, aiming to foster development rather than suppress the industry; more and more institutional investors are recognizing the value of this asset class, as evidenced by the large position of IBIT in Harvard University's endowment portfolio; stablecoin metrics are hitting new highs every month, and their issuance is projected to increase several times over by 2030.

Simon Kim also mentioned that billions of people worldwide will access digital assets through everyday fintech and large-scale tech applications in the future, rather than relying on exchanges. Everything is being tokenized, and the prosperity of the on-chain ecosystem is a foregone conclusion. He emphasized that the cycle is temporary, the fundamentals are irreversibly moving forward, and urged everyone to be patient, as it won't take long for prices to rebound and catch up with these fundamentals.