Wintermute CEO Evgeny Gaevoy raised a concern about the downfall of Ethereum, stating that if this project collapses, it will not be a technical issue but the potential internal contradictions among the leaders.
Wintermute stated, “You are either building capitalism or planned socialism,” pointing to some officials like Vitalik Buterin, Hayden Adams, and the community members.
He further stated that they have to choose either capitalism or socialism, but they can‘t move in parallel with both ideologies. The statement came in response to criticism of one of the celebrity coins.
“If ETH fails in the future it won’t be because “Solana is faster,” it will be because the ETH “elite” is still stuck in a massive contradiction,” he stated.
Gaevoy argued that Buterin, Adams, and others in the Ethereum community face a contradiction. They claim to want to create products that benefit society, but they also try to solve maximum extractable value (MEV)—the most value that can be taken from a block of transactions based on their order.
“Vitalik, Hayden, and many others are trying to “solve capitalism” by saying that what we build can only be respected “if the end is worthy (healthcare, open source software, art, etc)” or that “the best builders in the space are motivated by positive social change,” he stated.
Comments and Reactions on Celebrity Meme coins
Buterin’s recent comment leads the criticism, stating that it is not providing anything worthy to the community.
According to him, even if the tokens end up being worthless, everyone who took part should still feel happy and content about being involved.
He further argued that turning things into money is only okay if it helps make something better for society, like healthcare, encouraging art and creativity, and supporting open-source software.
“I’m feeling quite unhappy about with this cycle’s celebrity experimentation so far,” Buterin posted on X.
In response to the criticism from Ethereum cofounder, Iggy Azalea, a hip-hop star who launched her mother token, reacted by posting a picture of herself holding a baby who resembles him. Adams, cofounder of Uniswap criticized Azalea for the post and not using her earnings for social causes and instead choosing to mock the Ethereum cofounder.
Source: Iggy Azalea
At the time of writing, Mother’s coin is trading at a mark of $0.1526 according to CoinGecko data.
