After a break from Twitter, Vitalik Buterin, the Russian computer programmer and founder of the top blockchain platform Ethereum, shared his insights on the negative impact of the US crypto regulatory policies on the leading crypto projects including Solana.
On June 28, Buterin facilitated an open space for his followers on Twitter to speak and clear queries on both crypto and non-crypto topics. Wishing his followers a happy “tau day”- a day that honors the introduction of the “true” circle constant, “tau”- Buterin provided an opportunity for his community to converse with him on Twitter.
While Matt Huang, the co-founder of the investment firm Paradigm, enquired about Buterin’s perspectives on the US regulator’s approach to crypto, the programmer replied that the crypto projects are “hit” by the regulators’ scrutiny.
The one comment I'll make is that I feel bad that @solana and other projects are getting hit in this way. They don't deserve it, and if ethereum ends up "winning" through all other blockchains getting kicked off exchanges, that's not an honorable way to win, and in the long term…
— vitalik.eth (@VitalikButerin) June 30, 2023
Over the past few months, the US Securities and Exchange Commission (SEC) has been troubling the crypto sector with stringent restrictions, which Brian Armstrong, the CEO of Coinbase, a leading crypto firm, commented as the aftermath of SBF’s alleged fraud. A series of lawsuits filed by the SEC, entitled many cryptocurrencies, including Cardano’s ADA and Solana’s SOL.
Responding to Paradigm co-founder’s query, the Ethereum founder quoted:
The one comment I’ll make is that I feel bad that Solana and other projects are getting hit in this way. They don’t deserve it, and if Ethereum ends up “winning” through all other blockchains getting kicked off exchanges, that’s not an honorable way to win, ad in the long term probably isn’t even a victory.
Buterin went on to explain asserting that the real competition exists within the “rapidly expanding centralized world that is imposing itself” on the decentralized world. He added that the other blockchains aren’t the real competitors, intending that the blockchain industry should sustain. He wished for a “fair outcome” for all the crypto projects and blockchain ecosystems that are under rigid conditions.
