Ethereum co-founder Vitalik Buterin and Cardano founder Charles Hoskinson locked horns Wednesday over the role of crypto in political allegiances. Buterin kicked things off with an essay. Hoskinson fired back on social media.
Buterin's piece, "Against choosing your political allegiances based on who is 'pro-crypto'", warns against single-issue voting. He's worried about the growing politicization of crypto.
This trend has gained traction lately. Former President Donald Trump, a top 2024 contender, has gone "pro-crypto". He's snagged endorsements from industry bigwigs like Kraken's Jesse Powell and Gemini's Winklevoss twins.
Buterin's not having it. He says backing politicians solely on crypto stance is short-sighted. Politics is complex, he argues. It's not just about who wins the next election.
"The game of politics is much more complicated," Buterin writes. He's concerned this narrow focus could backfire. Politicians might think pro-crypto talk alone is enough to win support.
Buterin reckons this approach could lead to neglect of other crucial issues. Privacy rights, governance ethics, and international cooperation could take a back seat.
He's not pulling any punches. "By publicly giving the impression that you support 'pro-crypto' candidates just because they are 'pro-crypto', you are helping to create an incentive gradient," Buterin states. He thinks this could dumb down political discourse.
Buterin wants the crypto community to think bigger. "If a politician is pro-crypto, the key question to ask is: are they in it for the right reasons?" he challenges.
Hoskinson's not buying it. The Cardano founder hit back on X, arguing for pragmatism. He reckons backing crypto-friendly politicians is crucial, given the hostile regulatory environment.
"My first goal has always been to keep government out of crypto completely," Hoskinson writes. But where that's not possible, he says the choice is clear: support pro-crypto candidates.
Hoskinson's got no time for Buterin's nuanced take. "Politics is a game of cause and effect," he states bluntly. He thinks politicians need to learn that harassing crypto means losing votes.
The Cardano chief is pulling no punches. He's dead set against Central Bank Digital Currencies, lawsuits targeting non-custodial wallets, and what he sees as the criminalization of crypto leaders.
Hoskinson's not mincing words about the 2024 US election. "A vote for Biden is a vote for the death of the American crypto industry," he claims. He's backing Trump, citing the former president's crypto-friendly stance.
The Cardano founder's final salvo? "It has to stop, and it won't if there aren't political consequences. So in 2024, #VoteCrypto," he declares.
At the time of writing, Cardano was trading at $0.449.