Cryptocurrencies, attracting institutional investors, are gradually shifting their core philosophy. However, this new market entry is accompanied by significant challenges.
The Decline of Cryptocurrencies
Bitcoin, introduced with Nakamoto's specific philosophy, and other cryptocurrencies have shifted from their original purpose. Global regulations and banking norms have played a role. Vitalik Buterin even mentioned possibly distancing himself from Ethereum, as most investors overlook its philosophy. Ultimately, cryptocurrencies lost their intrinsic value, focusing solely on profits.
Corruption in Cryptocurrencies
Corruption in crypto is linked to people and events with selfish goals. SBF and Justin Sun are examples of a new wave of investors willing to manipulate the market for profit. The SEC's case against Sun and its resolution with the WLFI project highlight the ongoing struggles in the crypto industry.
Cryptocurrencies continue to face serious ethical questions and corruption, emphasizing the need to reassess their original philosophy.
