“Technically, it succeeded, but practically, it struggled. Regulators lumped it in with tools that facilitated money laundering, and many exchanges delisted it. Most major U.S. platforms don’t offer Monero trading as of today (October 2025).” https://www.forbes.com/sites/digital-assets/2025/10/23/the-future-of-crypto-depends-on-auditable-privacy/
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They started a narrative control/propaganda campaign against privacy.
Which means they know the privacy cycle is about to take off.