Vitalik Buterin Criticizes TRUMP and Political Meme Coins
Ethereum co-founder Vitalik Buterin has published a warning article about Trump, political meme coins, and the current state of the cryptocurrency industry.
He noted that Gensler left a regulatory loophole in distinguishing between governance tokens and securities, which unleashed a wave of bad actors.
Buterin vs Trump: The fight for the future of cryptocurrencies
Vitalik Buterin, Co-founder of Ethereumshowing growing anxiety about Trump and other political meme coins. in lengthy social media postalButerin emphasized the long-term vision for the cryptocurrency industry, claiming that “we have entered a new order” last year.
He noted that institutional acceptance of cryptocurrencies has allowed bad actors to flourish:
“It is time to talk about the fact that large-scale political coins cross the line: they are not just a source of fun, their harm is limited at best to mistakes made by willing participants, they are instruments of unlimited political bribery, including from foreign countries,” Buterin claimed.
For Buterin, Trump’s rollout This is a watershed moment. almost 94% of tokens are held by 40 walletsthe liar has Nearly $1 billion stolencapitalizing on the hype surrounding Trump and Melania.
Normally, U.S. presidents cannot conduct personal matters while in office. As a result, Trump’s memecoin has caused great concerneven outside the cryptocurrency industry.
However, Buterin did not place all the blame on Trump or any other high-profile memecoin issuer. He pointed out Former SEC Chairman Gary Gensler Creates a loophole in securities laws by designating governance tokens as a potentially separate concept.
In Buterin’s view, Gensler “can never be called a hero, even among cryptocurrency skeptics” due to this vulnerability.
The former SEC chairman was widely criticized and scorned by the crypto industry for his regulatory crackdown even after approving a Bitcoin ETF. Gensler has never provided regulatory clarity or closed loopholes in existing regulations.
In hindsight, however, Buterin claims that crypto’s “part compliance, part rebellion” response directly led to Trump’s rise to power. Still, he does see a way forward.
“There’s a bright future for the capital allocation mechanisms that can be put in place. It’s possible that we can come up with ways to ensure that we align with community aspirations and protect important values like privacy, Safetyopen standards and open source. Either way, acceleration is coming. Our task is to choose the brightest vector possible. ” he concluded.
Buterin points out that the entire Decentralized Finance It is the responsibility of the community to educate newcomers on long-term realization and wealth building, return to honest token-based fundraising, and actively defend the space from this self-destructive market logic.
he suggested a “Technological Optimism” d/acc or “Defense Acceleration” philosophy keep going.
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