Crypto exchanges are starting to list gold and silver. Small exchanges are doing it first, and large exchanges are following suit, indicating that other altcoins, even meme coins, are no longer being traded much and can only list these precious metals. It seems that platforms relying on earning fees can't hold on anymore and are no longer trying to overthrow fiat currencies, but just trying to make some profit. As long as there is trading demand, they will go all in regardless of the floodwaters. However, there's a problem: these contracts must be hedged when they are first launched. What if the hedging is restricted like in China, or if they simply shut down like in Thailand? Wouldn't the users end up bearing everything?