Gate CEO and founder Lin Han asserts that financial institutions have been defeated by stablecoins.

The leader of the fourth-largest cryptocurrency exchange by daily trading volume also expressed the view that bitcoin’s four-year cycle is no longer relevant.

Lin Han of Gate discusses his perspectives in an exclusive interview with CoinDesk at Consensus Hong Kong 2026. (Photo: Olivier Acuna/Modified by CoinDesk)

Key points:

• Han Lin, CEO of Gate, asserts that bitcoin’s conventional four-year halving cycle no longer influences crypto markets, which he claims now align with the overall global economy, U.S. stock markets, and trends in AI.
• Lin mentions that the rebranding and collaborations of Gate are designed to capitalize on an anticipated surge in the tokenization of real-world assets, as stocks, metals, and commodities are integrated into 24/7 blockchain trading platforms.
• Although banks and regulators are resistant to stablecoin yields, Lin argues that banks are increasingly recognizing stablecoins as beneficial payment systems, predicting that crypto-native exchanges will soon outperform traditional exchanges by providing more efficient and continuous market access.

The established four-year crypto cycle, historically linked to bitcoin’s BTC$67,980.43 halving events, may be becoming obsolete.

Han Lin, the founder and CEO of Gate and an early supporter of bitcoin, informed CoinDesk on Thursday that the digital asset market has evolved into a key component of the global macroeconomic landscape, now moving in harmony with U.S. equities and technological advancements driven by AI rather than being influenced solely by internal supply dynamics.

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Lin, who oversees the world’s fourth-largest exchange with a daily volume surpassing $2 billion, articulated his vision of an industry that has shifted from being an “existential threat” to becoming a fundamental part of traditional finance.

The American Bankers Association (ABA) has urged U.S. Congress to prohibit yields on payment stablecoins and amend open banking regulations, presenting these changes as essential for consumer protection and competitive fairness. Critics from the crypto and fintech sectors argue that the ABA’s agenda would skew the regulatory landscape in favor of banks by restricting how wallets, stablecoin issuers, and applications can access users and their financial information.

"I no longer subscribe to the four-year cycle," Lin stated, highlighting that Gate (previously Gate.io) is gearing up for an upward trajectory driven by the convergence of crypto and traditional finance. "The market has expanded. It is now more connected to the global economy and the U.S. stock market. You cannot view it as isolated."

Lin’s perspective coincides with Gate’s extensive global rebranding, transitioning to the Gate.com domain and securing major sponsorship deals with Oracle Red Bull Racing and Inter Milan. Lin indicates that the aim is to prepare for an impending wave of real-world asset (RWA) tokenization that extends significantly beyond the existing stablecoin landscape.

While stablecoins such as USDC and USDT represent the “most successful use cases” at present, Lin foresees a swift transition of stocks, precious metals, and commodities onto the blockchain. Gate is already facilitating this evolution, providing users with access to traditional assets in a tokenized, 24/7 format.

"We will surpass traditional exchanges and banks very shortly," Lin asserted, citing the inherent efficiency of on-chain liquidity. He posits that while established institutions like the New York Stock Exchange are only beginning to explore 24/7 trading, crypto-native platforms have already perfected the necessary infrastructure for a continuous global market.

Banks as clients, not competitors

Lin rejected the notion that stablecoins pose an inherent risk to bank deposits. Rather, he perceives them as a technological advancement that banks are increasingly willing to embrace.

"I have spoken with several banks; they are no longer keen on opposing crypto," Lin remarked. "They can utilize stablecoins to enhance their own services. We use them as a means for money transfers."

Despite the competitive environment, Lin confirmed that his crypto exchange has no intentions of launching its own stablecoin, opting instead to remain a neutral platform that incorporates existing tokens like Circle’s USDC. This approach prioritizes “building the infrastructure” rather than competing with the assets themselves.

Market resilience and AI tailwinds

In spite of a tumultuous 2025 that left many retail participants on the sidelines, Lin maintains a positive outlook on the “believers” who continue to accumulate during market dips. He points to a 15x increase in crypto-based payments over the past two years as evidence that digital assets are achieving “real-world utility” beyond mere speculation.

Lin views the current AI surge as a “strong support” for crypto. As investors search for the next technological breakthrough, the intersection of AI and blockchain, particularly in lowering entry barriers for new users, is expected to propel the next wave of adoption.

"We do not focus on price fluctuations," Lin concluded. "Our priority is on applications. We are working to make it more cost-effective and efficient. The technology is functional, and no one can halt that."