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On some Ethereum L2s, bots now burn over half the gas just searching for MEV, and they don’t pay proportionally for it. That’s a scaling and market-fairness problem rooted in market structure.
The privacy conversation in crypto has finally escaped the “anonymous money” framing that dominated the last cycle. In early 2026, the urgency is economic and rooted in immediate financial realities.
The industry faces a structural problem: on-chain transparency generates extractable value at massive scale,…