Last month, Donald Trump promised strong support to the Bitcoin mining industry stating that he would extend them full support if he returned to the White House.
In his latest blog post on Wednesday, July 17, Ethereum co-founder Vitalik Buterin warned against supporting political candidates only for their pro-crypto stands. Vitalik’s views come at a time when former US President Donald Trump has been receiving strong backing and donations from the crypto community.
Buterin stated that authoritarian candidates often adopt a crypto-friendly stand. Citing Russia as an example, Buterin said that President Vladimir Putin has often shown openness to cryptocurrencies. Thus, while voting, Buterin wants users to consider broader issues beyond just crypto policies.
He noted that this support could result in politicians adopting crypto-friendly positions to gain votes. Buterin stated:
“There is a particular style of being ‘crypto-friendly’ that is common to authoritarian governments, that is worth being wary of. The best example of this is, predictably, modern Russia.”
Over the last few weeks, apart from the crypto industry veterans, some of the top talents and industrialists from Silicon Valley have extended support to Donald Trump. This includes notable names venture capitalist Peter Thiel and Tesla CEO Elon Musk.
Trump has made bold crypto promises, including accepting digital currency donations and pledging to protect self-custody rights. He also vowed to keep Senator Elizabeth Warren and her allies away from Bitcoin holders.
Last month, Donald Trump also promised strong support to the Bitcoin mining industry stating that he would extend them full support if he returned to the White House. Trump is set to address the audience at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, further cementing his pro-crypto stance.
Cardano Chief Slams Vitalik Buterin
Cardano CEO Charles Hoskinson has rejected Vitalik Buterin’s viewpoint saying that his primary goal is to keep governments completely out of crypto. However, he added that there are situations where government intervention becomes inevitable.
He criticized measures such as central bank digital currencies (CBDCs) and legal actions against non-custodial wallets and crypto leaders, which he believes could harm the industry.
Hoskinson warned against supporting politicians who endorse such measures. Taking a stab at the Biden administration, Hoskinson said that “a vote for Biden is a vote for the death of the American crypto industry”. He urged voters to prioritize candidates who support cryptocurrency, suggesting that political repercussions could deter governments from hostile actions.
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