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Comment by throwawayq3423 | Hacker News Reader

Besides an exchange, what company is doing well right now in the crypto space?

L1 blockchains, Monad being a recent success. But blockchain = finance. That is what the use case for blockchain is. Anything will be either platforms to host financial assets, the assets themselves (interesting tokens), or applications to trade / lend / lever up on assets. It's protocolized, open-source finance.

Polymarket, Bitrefill, Stake

Gambling, money laundering, and more gambling. This is just a repeat of all the companies that promised people could get rich using them, then the price collapsed and they all died.

Question was asking for companies doing well that weren’t exchanges.

True, I had just responded to another comment with this so I had a chuckle.

> What denial? It is an excellent way to gamble or launder money. That's not changed, but it's not expanded either.

Less money laundering than cash obviously

There is no such thing as an all cash startup.

2 out of the 3 companies you listed have nothing to do with crypto.

Polymarket and Stake use crypto on the backend to facilitate the gambling.

It's actually quite functional for that speaking as someone who's used Polymarket.

Yes, both only legal because of their offshore status.

Mainstream adoption seems farther away due to this recent price spike. The money is attracting the wrong people, as it usually does.

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