Ethereum co-founder Vitalik Buterin has expressed concerns over what he describes as a “moral reversal” within the cryptocurrency industry, particularly in response to criticism of Ethereum’s stance on blockchain-based gambling.
During a February 20 Ask Me Anything (AMA) session, Buterin addressed frustrations with the industry over the past year. He pointed to recent backlash against Ethereum for not fully embracing blockchain “casinos”, stating that some have labelled the network “bad and intolerant” for its approach. He contrasted this with other blockchain platforms that openly support all applications, including gambling, and are seen as more favourable.
Buterin made it clear that if the crypto space continues in this direction, he would lose interest in being part of it. Nevertheless, he acknowledged that his face-to-face engagements with the community have given reassurance that the fundamental values of the blockchain community are still the same for everyone.
Despite his concerns, Buterin emphasized his commitment to Ethereum, stating that he has a responsibility to the community and cannot simply walk away. He called on Ethereum developers and supporters to work together in shaping the future of the ecosystem, suggesting that changes may be necessary.
One of these changes, he hinted, could involve the Ethereum Foundation becoming more selective about the types of projects it supports rather than maintaining strict neutrality at the application layer.
His remarks come amid ongoing scrutiny of the Ethereum Foundation’s financial decisions. On January 20, the foundation faced criticism for selling Ether (ETH) to fund operations, with community members arguing that alternative DeFi-based solutions could have been explored instead of liquidating assets on the open market.
Responding to the concerns, the foundation announced on February 13 that it had deployed 45,000 ETH—valued at approximately $120 million—into DeFi platforms Aave, Spark, and Compound. The move was met with approval from the community, with many viewing it as a positive step for Ethereum’s ecosystem.
The foundation has since stated that this is just the beginning of a broader strategy, adding that it is exploring staking options and actively seeking input from the Ethereum community on future financial decisions.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
