Ethereum co-founder Vitalik Buterin warned on Wednesday against voting solely based on whether a political candidate takes a “pro-cryptocurrency” stance.
“The game of politics is much more complex than ‘who wins the next election?’ There are so many levers that your words and actions affect,” Buterin wrote in a blog post Even Putin and the Russian government “expressed a willingness to be ‘open’ to cryptocurrencies,” according to the warning.
Buterin takes office as Donald Trump positions himself as a pro-cryptocurrency presidential candidate, rallying party members at the Republican National Convention in Milwaukee to after one day Venture capitalists Marc Andreessen and Ben Horowitz told Andreessen Horowitz (a16z) staff they plan to make significant contributions to political action committees in support of Donald Trump’s Activity.
In an episode of “The Ben and Mark Show,” During the show, which featured the a16z co-founder, Horowitz said the Joe Biden administration is “hitting every step of the way” by “using very nefarious means” in the form of the SEC and FDIC got them.
“They’ve sued over 30 of our companies,” Horowitz added. “They’ve lost almost all of these lawsuits, but the thing is, when you’re a startup, you don’t have the money to fight the U.S. government, so they’re destroying the industry in this way.”
Fairshake, a super PAC backed by top cryptocurrency companies, is now one of the highest-spending PACs this election cycle. Of the $160 million in total donations it has raised, 94% traceable There are only four companies: Ripple, Andreesen Horowitz, Coin library and jumping cryptocurrencies.
“There is a particular ‘crypto-friendly’ style prevalent in authoritarian governments that warrants caution. Unsurprisingly, the best example is modern Russia,” Buterin added. Russian-born programmer He created Ethereum when he was still a teenager.
Tesla CEO Elon Musk and venture capitalist Peter Thiel have also backed Trump, as have cryptocurrency leaders such as Thiel and Cameron Winklevoss.
In San Francisco in early June, tech experts, cryptocurrency executives and venture capitalists Pay up to $300,000 per ticket Attend a Trump fundraiser and end up Raised over $12 million.
“In particular, by publicly giving the impression that you support a ‘pro-crypto’ candidate because they are ‘pro-crypto,’ you are helping to create an incentive gradient that lets politicians understand that they need to get All you’re supporting is supporting ‘cryptocurrency,’” continued Buterin, who is known for regularly publishing lengthy articles commenting on existential threats to the ecosystem.
Buterin did not name any political candidates or people who chose to support them in his post.
Trump launched his latest series of non-fungible tokens on the Solana blockchain in April and has been increasingly bullish Comments on Cryptocurrencies.
he is Accept digital currency donations and pledged to defend the rights of those who choose to self-custody their tokens, meaning they do not rely on a centralized entity like Coinbase to hold their tokens, but rather keep them themselves in personal crypto wallets, which are sometimes located outside the state. The jurisdiction of this Bureau. Trump also vowed to retain Massachusetts Democratic Sen. Elizabeth Warren at the Libertarian Party’s national convention in Washington in May., and “her thugs” away from Bitcoin holders.
Meanwhile, more than a dozen mining executives pledged cash and votes to him after meeting with Bitcoin enthusiasts at Mar-a-Lago, Trump announced If he returns to the White House, all future Bitcoins will be minted in the United States.
On Monday, the Republican presidential candidate added Ohio Senator J.D. Vance to his list of vice presidents, a move considered by many to be a net win for the cryptocurrency industry. Vance advocates deregulation of cryptocurrencies and in 2022 revealed his personal holdings Bitcoin.
This is in stark contrast to Joe Biden’s White House, which has been considered harsh on cryptocurrencies. The U.S. Securities and Exchange Commission has stepped up its actions against the industry under President Joe Biden, and the U.S. has proven to be one of the most aggressive enforcers of penalties and enforcement against cryptocurrency companies even without Congress enacting strict rules. one.
The angrier the cryptocurrency industry gets over the SEC’s arrests and prosecutions, the greater the opportunity for people like Vance to stand on the opposite side of the crypto-skeptic Biden administration.
However, the perception that Biden opposes cryptocurrencies while Trump supports them worries some Biden allies. Take the case directly to senior White House officials.
Trump will headline the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.
