[samsonradu]

I think eventually it will be nation states that bring the endgame, on national security grounds, through regulation.

Looking mostly at the US here. It is highly unlikely the government will sit by and watch trillions of US capital flowing into a Chinese-controlled infrastructure, undermining their reserve currency status.

Also worth mentioning that the US has leverage over the entire world’s banking system, that is how they enforce sanctions. Cutting the link between crypto and major currencies would qualify as an endgame.