Ethereum co-founder Vitalik Buterin has advised against supporting political candidates solely based on their pro-crypto stance, highlighting the risks to the community’s core values.
While other crypto leaders like Ryan Selkis openly express support for Donald Trump in his presidential campaign, Vitalik Buterin offers a more nuanced and cautious perspective.
Political Support Based on Crypto: The Risks
In a blog post published on Wednesday, Vitalik warned against creating an environment where politicians understand that simply supporting crypto can guarantee them voter support. He emphasized that this trend risks diverting from the core values that initially attracted many supporters to the crypto space.
Ryan Selkis’ Opposition
Ryan Selkis, co-founder of crypto information platform Messari, strongly opposed Vitalik’s position. Describing himself as a “single-issue voter,” Selkis stated he prefers Trump over Joe Biden due to Trump’s favorable attitude towards digital assets. Selkis recently attended a gala at Mar-a-Lago where Trump praised his NFT collection and expressed newfound sympathy for cryptocurrencies.
On X (formerly Twitter), Selkis criticized Vitalik as a “naive and useless political commentator” in the crypto space, claiming that Ethereum’s founder’s idealism is unrealistic in the face of what Selkis perceives as a cultural and ideological threat.
The Politicization of Crypto
The debate between Vitalik and Selkis highlights the growing politicization of the crypto community. With influential figures taking strong political positions, crypto is becoming an increasingly central topic in electoral campaigns. Coinbase, one of the largest US-based cryptocurrency exchanges, has emerged as a major force in political donations this year through its Fairshake PAC.
Vitalik’s argument against blind support for pro-crypto candidates is based on preserving the core values of decentralization and resistance to censorship, which are at the heart of the crypto philosophy. By promoting more thoughtful and balanced support, Vitalik hopes to protect the integrity and long-term vision of the crypto community.
