'Most Of The Crypto Industry Is Dead And It's Never Coming Back': What Made Anthony Pompliano Change His Tune?

Anthony Pompliano told attendees after Consensus Miami that “most of the crypto industry is dead,” arguing that many blockchains and tokens are effectively ghost chains or zombie coins with little economic utility. He said mercenaries chasing short-term gains now dominate, while legacy finance (notably Morgan Stanley adding Bitcoin trading via E*Trade to 8.6 million clients) is encroaching on crypto firms. Michael Saylor’s comment that he could sell Bitcoin to fund STRC dividend payments briefly lifted BTC prices, underscoring shifting incentives. Pompliano expects only four areas to accrue lasting value — Bitcoin, stablecoins, infrastructure, and tokenization — implying further consolidation and downside pressure on most altcoins and novelty tokens, even as institutional adoption could strengthen Bitcoin’s market position.