Ethena founder Guy Young says DEXs are winning on efficiency
Photo: Crypto Briefing
The Ethena Labs founder argues decentralized exchanges are taking market share from centralized rivals because they simply run leaner Guy Young, founder of Ethena Labs, has a simple explanation for why decentralized exchanges keep eating into the business of their centralized rivals. They are more efficient at doing the job. Speaking on Delphi Digital’s Hivemind podcast in October 2026, Young pointed to the structural advantages DEXs hold over centralized exchanges (CEXs). Young’s case rested on three pillars: execution, custody, and economics.
Source: Crypto Briefing
