Vitalik Buterin, Ethereum’s co-founder, cautioned on Wednesday against selecting candidates solely on their professed support for cryptocurrencies
Buterin stated in a blog post that it is more crucial to examine a candidate’s broader policies to ensure that they align with the fundamental objectives of cryptocurrency, such as the preservation of private communications and internationalism.
According to Buterin, the primary inquiry to consider when a politician is in favor of crypto is whether they are motivated by the correct reasons. “Is their vision of the future of technology, politics, and the economy in the 21st century consistent with yours?”
Even though Buterin does not explicitly identify any politicians or crypto investors, his remarks were made just one day after Marc Andreessen and Ben Horowitz endorsed former President Donald Trump in the 2024 Presidential election.
Yesterday, the founders of Andreessen Horowitz stated in a podcast that Trump’s crypto regulation proposal is “a flat-out blanket endorsement of the entire space.”
The influential venture capitalists have joined the ranks of other notable Silicon Valley actors, such as Elon Musk, who provided his endorsement of Trump in the past week.
Moreover, the co-founder of Ethereum argued that indicating one’s support for “pro-crypto” candidates could encourage legislators to promote the cause dishonestly.
Authoritarian leaders, particularly in Russia, have purported to support crypto to consolidate power, according to Buterin.
“If a politician is pro-crypto, the key question to ask is: are they in it for the right reasons?,” wrote Buterin. “Do they have a vision of how technology and politics and the economy should go in the 21st century that aligns with yours?”
Five years ago, the co-founder of Ethereum recommended that one investigate the perspectives of a politician who was “crypto-friendly.” He asserts that this can be used as a benchmark to determine whether the politician may reconsider their stance in five years.
It is important to note that five years ago, former President Trump fiercely opposed decentralized tokens. Trump stated in a tweet from July 2019 that he is “not a fan of Bitcoin and other Cryptocurrencies, which are not money.”
In a subsequent tweet, he referred to the United States dollar, “We have only one real currency in the USA.”
However, in May, Trump made a complete 180-degree turn in his stance on cryptocurrencies, becoming the first major presidential candidate to receive Bitcoin donations.
Donald Trump’s crypto fundraising initiatives have garnered $3 million in donations during the second quarter, according to The Wall Street Journal.