“Ex-Aevo Co-Founder Calls Crypto a ‘Casino’”

[nihalsari]

Ken Chan, former co-founder of derivatives protocol Aevo, admitted in a viral post that he “is NOT building a new financial system. I built a casino.” His metaphor has captured attention across Asian crypto communities, reflecting widespread frustration with the Layer 1 capital frenzy. Chan left Aevo in May, six months before sharing the statement, as the AEVO token trades 99% below its peak.

[Abdul Khan]

Harsh take, but not entirely surprising given recent market behavior.

[Rimon Khan]

Calling it a casino ignores the real builders — but reflects retail sentiment.