Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Gate CEO and founder Lin Han says banks have Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Gate CEO and founder Lin Han says banks have

Gate CEO and founder Lin Han says banks have lost the war against stablecoins

2026/02/12 22:35
6 min read
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Gate CEO and founder Lin Han says banks have lost the war against stablecoins

The head of the fourth-largest crypto exchange by daily trading volume also said he believes bitcoin’s four-year cycle is no longer a thing.

By Olivier Acuna|Edited by Jamie Crawley
Updated Feb 12, 2026, 2:37 p.m. Published Feb 12, 2026, 2:35 p.m.
Make us preferred on Google
Lin Han of Gate share his views in an exclusive interview with CoinDesk at Consensus Hong Kong 2026. (Photo: Olivier Acuna/Modified by CoinDesk)

What to know:

  • Han Lin, CEO of Gate, argues that bitcoin’s traditional four-year halving cycle no longer drives crypto markets, which he says now move in tandem with the broader global economy, U.S. equities and AI trends.
  • Lin says Gate’s rebranding and partnerships are aimed at capturing a coming boom in real-world asset tokenization, as stocks, metals and commodities migrate onto 24/7 blockchain trading platforms.
  • While banks and regulators push back on stablecoin yields, Lin contends that banks increasingly see stablecoins as useful payment rails, and he predicts crypto-native exchanges will soon outcompete traditional exchanges by offering more efficient, always-on markets.

The traditional four-year crypto cycle, long-tethered to bitcoin’s BTC$67,980.43 halving events, may be a thing of the past.

Han Lin, founder and CEO of Gate and an early advocate of bitcoin, told CoinDesk on Thursday the digital asset market has matured into a global macroeconomic pillar that now moves in lockstep with U.S. equities and AI-driven technological shifts rather than internal supply shocks.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

Lin, who leads the world’s fourth-largest exchange with daily volume exceeding $2 billion, laid out his vision of an industry that has transitioned from an "existential threat" to the foundational infrastructure of traditional finance.

The American Bankers Association (ABA) urged U.S. Congress to ban yield on payment stablecoins and revise open banking rules, framing the changes as necessary for consumer protection and competitive balance. Crypto and fintech critics say the ABA’s agenda would tilt the regulatory playing field toward banks by limiting how wallets, stablecoin issuers and apps can access users and their financial data.

"I don't believe in the four-year cycle anymore," Lin said, noting that Gate (formerly Gate.io) is positioning itself for an upward move driven by the convergence of crypto and TradFi. "The market is bigger now. It is more related to the global economy and the U.S. stock market. You cannot see it as isolated."

Lin’s outlook comes as Gate executed a massive global rebranding, moving to the Gate.com domain and securing high-profile sponsorships with Oracle Red Bull Racing and Inter Milan. The goal, Lin says, is to prepare for a wave of real-world asset (RWA) tokenization that extends far beyond the current stablecoin market.

While stablecoins like USDC and USDT are the "most successful use cases" today, Lin anticipates a rapid migration of stocks, precious metals, and commodities onto the blockchain. Gate is already facilitating this shift, offering users access to traditional assets in a tokenized, 24/7 format.

"We will beat traditional exchanges and banks very soon," Lin claimed, citing the inherent efficiency of onchain liquidity. He argues that while legacy institutions like the New York Stock Exchange are only now exploring 24/7 trading, crypto-native platforms have already perfected the infrastructure required for a round-the-clock global market.

Banks as clients, not competitors

Lin dismissed the idea that stablecoins are an inherent threat to bank deposits. Instead, he views them as a technological upgrade that banks are increasingly eager to adopt.

"I have talked with some banks; they are no longer eager to go against crypto," Lin said. "They can use stablecoins to accelerate their own service. We use them as a rail for money transfer."

Despite the competitive landscape, Lin confirmed that his crypto exchange has no plans to develop its own stablecoin, preferring to remain a neutral venue that integrates existing tokens like Circle’s USDC. This strategy focuses on "building the infrastructure" rather than competing with the assets themselves.

Market resilience and AI tailwinds

Despite a volatile 2025 that saw many retail participants sidelined, Lin remains bullish on the "believers" who continue to accumulate at low points. He points to the 15x growth in crypto-based payments over the last two years as evidence that digital assets are finding "real-world utility" beyond simple speculation.

Lin sees the current AI boom as a "strong support" for crypto. As investors hunt for the next technological frontier, the intersection of AI and blockchain, particularly in lowering the barrier to entry for new users, is expected to drive the next wave of adoption.

"We don't care about the price alarms," Lin concluded. "We care about the applications. We are making it lower cost and more efficient. The technology works, and nobody can stop that."

Gate.ioConsensus Hong Kong 2026

More For You

Crypto industry experts at Consensus see Asian institutions pivot toward stablecoins

Panelists at the conference discussed how regulatory progress in Hong Kong and Japan creates a structured path for capital allocation.

What to know:

  • Institutional crypto transactions in Asia grew 70% year over year to reach $2.3 trillion by mid-2025.
  • Regulatory clarity in hubs such as Hong Kong and Singapore has driven a shift from speculation to structured yield.
  • Major banks in Japan now develop stablecoin solutions to build regulated rails for traditional capital.
Read full story
Latest Crypto News

Crypto industry experts at Consensus see Asian institutions pivot toward stablecoins

Only 5% of companies see AI improving profit, McKinsey China chairman tells Consensus

CoinDesk 20 performance update: Hedera (HBAR) rises 6.7%, leading index higher

Bitcoin layer-2 builders pitch BTCFi as the next institutional unlock

From stablecoins to biotech: Why YZi Labs is betting on things that haven't happened yet

Recapping day 2 of Consensus Hong Kong

Top Stories

Bitcoin defies 'extreme fear,' hot jobs report to show signs of resilience

Forget $80k: Michael Terpin warns bitcoin could revisit the $40,000s before a real recovery

Binance's Richard Teng breaks down the ‘10/10’ nightmare that rocked crypto

UK appoints HSBC for blockchain bond pilot

Charles Hoskinson confirms deal to onboard LayerZero on Cardano

Ark Invest buys Bullish stock for 9th straight day in $11.6 million purchase

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 service@support.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

ETH Leverage ETF: Defiance Unlocks Revolutionary Opportunities for Retail Investors

ETH Leverage ETF: Defiance Unlocks Revolutionary Opportunities for Retail Investors

BitcoinWorld ETH Leverage ETF: Defiance Unlocks Revolutionary Opportunities for Retail Investors The world of cryptocurrency investing is constantly evolving, and a new product from Defiance is set to make waves. They’ve just announced the launch of an innovative ETH leverage ETF, known as ETHI. This isn’t just another investment vehicle; it’s a groundbreaking approach designed to give retail investors enhanced exposure to Ethereum while also generating income through sophisticated options strategies. What Exactly is Defiance’s New ETH Leverage ETF? Defiance’s new offering, ETHI, is an Exchange Traded Fund (ETF) that combines two powerful elements: leverage from an ETH-linked exchange-traded product (ETP) and income generation from options. Essentially, it allows investors to amplify their potential returns from Ethereum’s price movements without directly holding ETH. This particular ETH leverage ETF is tailored for retail investors who are looking for dynamic ways to engage with the crypto market. It aims to provide a more accessible pathway to strategies often reserved for institutional players. By packaging these complex mechanisms into an ETF, Defiance makes them available through traditional brokerage accounts. How Does This Innovative ETH Leverage ETF Generate Income? At the heart of ETHI’s income generation strategy is a credit call spread. This is an options-based approach that involves both selling and buying options simultaneously. Here’s a simplified breakdown: Selling Call Options: The ETF sells call options, which obligate it to sell ETH-linked ETPs at a certain price if the market goes above that level. This generates immediate premium income. Buying Call Options: To limit potential losses from the sold call options, the ETF also buys call options at a higher strike price. This caps the risk, making the strategy more defined. The combination of these actions creates a net credit for the ETF, which is then passed on to investors. This strategic approach provides a unique blend of potential growth from Ethereum’s price and consistent income generation, distinguishing it from simpler investment products. Understanding the mechanics of this ETH leverage ETF is crucial for potential investors. What Are the Benefits and Risks of an ETH Leverage ETF? Like any investment, the Defiance ETHI comes with its own set of advantages and considerations. It’s important for investors to weigh these carefully before committing. Potential Benefits: Enhanced Exposure: Investors gain amplified exposure to Ethereum’s price movements without the complexities of managing leverage directly. Income Generation: The options strategy aims to provide regular income, which can be an attractive feature for many investors. Accessibility: As an ETF, it’s easily traded through standard brokerage accounts, making advanced strategies more accessible to retail investors. Diversification: It offers a novel way to diversify a portfolio beyond traditional assets and direct crypto holdings. Key Risks: Volatility: Ethereum is a highly volatile asset. Leverage can magnify both gains and losses significantly. Options Complexity: While simplified by the ETF structure, the underlying options strategy still carries inherent risks, including potential for capital loss. Management Fees: ETFs typically have management fees, which can impact overall returns over time. Market Timing: The effectiveness of options strategies can be highly dependent on market conditions and timing. Before investing in any ETH leverage ETF, a thorough understanding of these dynamics is essential. Is This Revolutionary ETH Leverage ETF Right for Your Portfolio? Defiance’s ETHI is certainly an intriguing product, but its suitability depends on individual investor profiles. This ETH leverage ETF is generally aimed at those who have a higher risk tolerance and a good understanding of both cryptocurrency markets and options strategies. It’s not a set-it-and-forget-it investment. Potential investors should conduct their own due diligence, perhaps consulting with a financial advisor, to determine if the combination of ETH leverage and options-based income aligns with their financial goals and risk appetite. The innovative nature of this product demands careful consideration. In conclusion, Defiance’s new ETHI represents a significant leap forward in making sophisticated crypto investment strategies available to a broader audience. By combining ETH leverage with a credit call spread options strategy, it offers a unique blend of amplified exposure and potential income. While the potential rewards are compelling, investors must approach this ETH leverage ETF with a clear understanding of the associated risks and ensure it fits their investment profile. This innovative product truly unlocks new avenues for engaging with the dynamic world of Ethereum. Frequently Asked Questions (FAQs) Q1: What is the Defiance ETH Leverage ETF (ETHI)? A1: The Defiance ETH Leverage ETF (ETHI) is an Exchange Traded Fund that combines leveraged exposure to Ethereum (via an ETP) with income generation through an options-based strategy, specifically a credit call spread. Q2: How does the ETH leverage component work? A2: The ETF gains leveraged exposure by investing in an ETH-linked ETP, meaning it aims to amplify the returns (and losses) of Ethereum’s price movements. This allows investors to potentially achieve greater gains than direct ETH ownership, albeit with increased risk. Q3: What is a credit call spread strategy? A3: A credit call spread is an options strategy where the ETF simultaneously sells a call option and buys another call option with a higher strike price. This generates a net premium (credit) for the ETF, providing income while also limiting potential losses from the sold option. Q4: Who is the target audience for this ETH leverage ETF? A4: This ETH leverage ETF is primarily aimed at retail investors who have a higher risk tolerance, a good understanding of cryptocurrency markets, and are looking for advanced strategies to gain amplified exposure to Ethereum with an income component. Q5: What are the main risks associated with investing in ETHI? A5: Key risks include the high volatility of Ethereum, the magnified potential for losses due to leverage, the inherent complexities and risks of options strategies, and the impact of management fees on overall returns. Investors should understand these before investing. Share Your Insights Did you find this article on Defiance’s new ETH leverage ETF insightful? Share your thoughts and this article with your network on social media! Your engagement helps us bring more valuable crypto market analysis to a wider audience. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption. This post ETH Leverage ETF: Defiance Unlocks Revolutionary Opportunities for Retail Investors first appeared on BitcoinWorld.
Share
Coinstats2025/09/19 23:35
Curve Finance votes on revenue-sharing model for CRV holders

Curve Finance votes on revenue-sharing model for CRV holders

The post Curve Finance votes on revenue-sharing model for CRV holders appeared on BitcoinEthereumNews.com. Curve Finance has proposed a new protocol called Yield Basis that would share revenue directly with CRV holders, marking a shift from one-off incentives to sustainable income. Summary Curve Finance has put forward a revenue-sharing protocol to give CRV holders sustainable income beyond emissions and fees. The plan would mint $60M in crvUSD to seed three Bitcoin liquidity pools (WBTC, cbBTC, tBTC), with 35–65% of revenue distributed to veCRV stakers. The DAO vote runs from up to Sept. 24, with the proposal seen as a major step to strengthen CRV tokenomics after past liquidity and governance challenges. Curve Finance founder Michael Egorov has introduced a proposal to give CRV token holders a more direct way to earn income, launching a system called Yield Basis that aims to turn the governance token into a sustainable, yield-bearing asset.  The proposal has been published on the Curve DAO (CRV) governance forum, with voting open until Sept. 24. A new model for CRV rewards Yield Basis is designed to distribute transparent and consistent returns to CRV holders who lock their tokens for veCRV governance rights. Unlike past incentive programs, which relied heavily on airdrops and emissions, the protocol channels income from Bitcoin-focused liquidity pools directly back to token holders. To start, Curve would mint $60 million worth of crvUSD, its over-collateralized stablecoin, with proceeds allocated across three pools — WBTC, cbBTC, and tBTC — each capped at $10 million. 25% of Yield Basis tokens would be reserved for the Curve ecosystem, and between 35% and 65% of Yield Basis’s revenue would be given to veCRV holders. By emphasizing Bitcoin (BTC) liquidity and offering yields without the short-term loss risks associated with automated market makers, the protocol hopes to draw in professional traders and institutions. Context and potential impact on Curve Finance The proposal comes as Curve continues to modify…
Share
BitcoinEthereumNews2025/09/18 14:37
Over 260,000 Chrome users hit by 30 fake AI extensions stealing browsing & email data

Over 260,000 Chrome users hit by 30 fake AI extensions stealing browsing & email data

Tens of thousands of people have downloaded what they believed were useful AI tools for their browsers, only to give hackers a direct path into their most private
Share
Cryptopolitan2026/02/13 03:20