On March 1st, TheBlock executive Frank Chaparro stated on X platform that an interesting aspect of this current cycle is that there are no new CeFi companies (brokers or lending institutions) entering the market. In other words, there are no new companies similar to BlockFi or Celsius raising funds. There are some hybrid companies in the market, but most of the innovation is not about bringing financial services into the cryptocurrency field, but about applying cryptocurrency technology to traditional finance and even broader fields.