Ethereum Co-Founder Vitalik Buterin Warns Against Vote on Crypto Policy, as a16z Founders Back Trump

One of the most influential voices in cryptocurrency has warned the industry to refrain from voting for political candidates solely based on their digital asset policies. Blog published Wednesday, EthereumVitalik Buterin, co-founder of , believes that electing candidates simply because they are “pro-cryptocurrency” could further harm the industry in the long run. It’s more important to determine whether candidates ideologically disagree with what cryptocurrency stands for than whether they support the right to trade cryptocurrencies here and now, he argues.

“If you care about liberty, you might want the government to respect your freedom to have the kind of family you want. If you care about building more efficient and equitable economies, you might want to look at the implications of that for housing,” he continued. Buterin added that losing sight of these big questions could lead crypto voters to lose sight of the ideals that “created crypto in the first place.”

Cryptocurrency payments, he argues, are just one iteration of the decentralization movement’s larger ideological goal of freedom, and a party’s commitment to protecting that goal is what should be on the ballot. “Decentralized networks are effective at protecting freedom, and money is an important area where such networks can be applied—but it is just one important area among many,” he writes.

Trump, who has pledged to be the “crypto president,” will talk to bitcoin 2024 Next week, an annual conference that doubles as a tribal gathering for fans of the original cryptocurrency will be held. Details of what he will be talking about have not been released. David Bailey, CEO of BTC Inc., the organizer of the Bitcoin conference, told Fortune in a statement that Trump will “share his vision for the future of the U.S. Bitcoin industry and its impact on the U.S. economy.”

In his blog post, Buterin also listed examples of technologies that should also be protected in the name of freedom, beyond cryptography and blockchains. These include encrypted messaging, the privacy of centralized AI companies, and prediction markets And Community Notes which he says help people form “quality opinions on important issues in a conflictual environment.”

Buterin’s appeal to higher ideals, however, was quickly met with suggestions that he was ignoring political reality.

“This all sounds too clever. Good crypto policy requires electing pro-crypto candidates, period. Political reality always trumps idealism,” replied Jake Chervinsky, prominent crypto-layer, on X. Another user added“The underlying goal must be mass adoption, which requires good policy. Technology is inherently democratic.”

“Sorry Mom”

Buterin’s blog post comes just a day after Ben Horowitz and Marc Andreessen, co-founders of tech venture capital firm a16z, announced their support for Donald Trump on a podcast“For small tech companies, we think Donald Trump is actually the right choice. Sorry, Mom, I know you’re going to be mad at me for this, but we had to do it,” Horowitz said. On the same podcast, Andreessen expressed concern about how Democrats might regulate Silicon Valley: “My big concern is that what we saw in crypto was a harbinger of what’s going to happen in AI.”

The a16z founders are not the first prominent industry figures to go public with their support for Trump.

“I’m going to vote for the person who’s going to do the best job for our economy… I’m an economic voter, and on that basis, Trump,” ARK Invest CEO Cathie Wood said in an interview with YouTuber Kevin Paffrath last month.

Also, this week it was reported that You’re here Cryptocurrency CEO and enthusiast Elon Musk is donating $45 million a month to a new pro-Trump political action super committee called America PAC. Other donors to the lobbying group include the Winklevoss twins, founders of the Gemini cryptocurrency exchange, and former U.S. Ambassador to Canada Kelly Craft, who lobbied on behalf of of the Bitcoin mining industry.

The fact that prominent figures in the cryptocurrency industry are turning to Trump is also indicative of a broader shift. investigation According to a study by Paradigm, 13% of undecided Republican voters are now more likely to vote for him in light of his recent conversion to cryptocurrencies. Additionally, just over a third of Republicans have a positive view of cryptocurrencies, according to the survey.

Recommended newsletter:

CEO Daily provides essential context for the information business leaders need to know. Every weekday morning, more than 125,000 readers trust CEO Daily for insights into leaders and their businesses. Subscribe now.

Source