Nasdaq's investment in Gemini is just the beginning. Most global exchanges are vying for market share. A rough estimate suggests that the combined revenue of centralized and decentralized cryptocurrency exchanges is already comparable to that of TradFi Exchange—even if it's comparable, it's still impressive. Everything happens on-chain. Early investors in centralized exchanges are likely to profit in the coming years, and the prospects for platforms like Hyperliquid will continue to improve as they release products and build network effects. https://t.co/CPPOj3zfqO