Ethereum Co-founder Has Issued A Warning Against Choosing Political Candidates Based Only On Their Support For Cryptocurrencies
Buterin argued that broadly supporting "pro-crypto" candidates could lead to politicians promoting the cause in bad faith.
Ethereum co-founder Vitalik Buterin warned against voting for political candidates solely based on their "pro-crypto" stance. This caution comes as Donald Trump positions himself as a pro-crypto candidate for president, supported by venture capitalists Marc Andreessen and Ben Horowitz of Andreessen Horowitz (a16z), who announced donations to political action committees backing Trump's campaign.
Buterin emphasized the complexities of politics beyond simple crypto support, highlighting that even authoritarian regimes, like Russia, have expressed openness to crypto. His warning coincides with the Republican National Convention in Milwaukee, where Trump is rallying support.
"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, politics, and the economy should evolve in the 21st century that aligns with yours?"
While Buterin did not name specific politicians or crypto investors, his comments followed Marc Andreessen and Ben Horowitz's endorsement of former President Donald Trump in the 2024 Presidential election. The founders of Andreessen Horowitz praised Trump’s crypto regulation plan as “a flat-out blanket endorsement of the entire space.” Their support adds to other notable Silicon Valley figures, including Elon Musk, who also endorsed Trump recently.
"It doesn’t matter if they also support banning encrypted messaging, if they are a power-seeking narcissist, or if they push for bills that make it even harder for your Chinese or Indian friend to attend the next crypto conference — all that politicians have to do is make sure it’s easy for you to trade coins," said Buterin.
Trump, who has launched a non-fungible token collection and is accepting digital currency donations, promises to defend crypto holders' rights and has vowed to mint all future bitcoin in the U.S. if elected. He recently added Ohio Senator JD Vance, a crypto advocate, to his ticket as vice president, contrasting sharply with the Biden administration's tougher stance on crypto regulation.
