The crypto industry's narrative shift from "disrupting finance" to "financialized tool" stems from evolving market dynamics and regulatory pressures. Initially, cryptocurrencies like Bitcoin promised decentralized, trustless alternatives to traditional finance, challenging banks and intermediaries. However, as institutional adoption grew, particularly post-2020, the focus pivoted toward integration with existing financial systems. Wall Street’s embrace—through ETFs, custodial services, and derivatives—transformed crypto into an investable asset class. Regulatory frameworks, once vague, began enforcing compliance, pushing projects toward centralized models. Meanwhile, speculative bubbles and scams eroded the "revolutionary" ethos, prioritizing profit over ideology. This financialization reflects crypto’s maturation but risks diluting its disruptive potential, as it increasingly mirrors the systems it once sought to upend.