Crypto degens think crypto will be a revolution against the system… Wrong. The system is already taking over everything in crypto, and now you are cheering for it. Look at the top holders in BTC, ETH, and SOL and you will understand who owns the infrastructure. Crypto doesn’t fix the distribution of wealth. Only your DNA and knowledge can take you out of the poorhouse, the ghetto. BTC is the system buying the asset, not overthrowing it. Biggest identifiable pools: Satoshi (~1.1M, dormant), Coinbase custody (~970–980k), Strategy (~844k), BlackRock/IBIT (~730–760k), Binance, Fidelity, and the US government (~328k from seizures). US spot ETFs hold ~1.2M. Public companies hold another ~1.26M. BlackRock, Coinbase, Strategy, Fidelity, and Washington sit on the float, not cypherpunks. ETH is more captured. BitMine holds ~5.85M ETH (~4.7% of supply). Coinbase and Binance each have ~4M in custody. BlackRock is a major ETF holder. Lido dominates liquid staking. A huge share of ETH is locked in the staking machine, not circulating with retail. SOL was never grassroots. Early supply went to the team, foundation, and VCs (a16z, Polychain, Jump, Multicoin, plus the old FTX/Alameda pile). Hundreds of millions of addresses mean little: a few thousand wallets above 10k SOL still hold ~80% of value. Foundation, funds, exchanges, staking pools, treasury companies, not “the people.”(Seth)