Mysten Labs CEO: Bear Markets Are Not "Great," Packaging Them as Positive for Building Ignores the Real Cost

Odaily News According to a recent interview, Evan Cheng, CEO of Mysten Labs, stated that he does not agree with the so-called "bear markets are good, keep building" narrative. In fact, bear markets are not "great," nor are they worthy of celebration or self-congratulation. Volatility is not just about "cleansing the market"; it also scares away builders and users, leading to a shrinking talent pool and slower adoption. While bear markets might allow a few teams to focus more, packaging them as beneficial for everyone ignores the real costs and can harm the long-term development of the crypto industry. During downturns, many people lose their savings, face cash flow breakdowns, and even some very capable teams may not survive, causing real harm to many.