Buterin Slams FTX, Emphasizes Ethereum Decentralization
At Devconnect in Buenos Aires, Ethereum co-founder Vitalik Buterin slammed the FTX collapse, criticizing its centralized “don’t be evil” model and contrasting it with Ethereum’s trustless architecture. He outlined the three pillars of Ethereum decentralization—no hidden keys, no indispensable intermediaries and verifiable results—and pointed to post-FTX data showing rising DEX trading volumes and stable Ethena USDe prices to underscore DEX resilience.
Buterin warned of emerging centralization risks on Ethereum, noting that 0.3% of wallets control 95% of DAO voting power and a handful of RPC endpoints dominate network access. To reinforce Ethereum decentralization, the community is advancing a “Lean Ethereum” vision to simplify the protocol and boost on-chain governance through the Ethereum Protocol Advocacy Alliance.
Stressing the need to institutionalize a trustless model, Buterin called for ongoing public debate on governance frameworks and embedding an “impossible to be evil” ethos. By addressing centralization and engaging regulators, Ethereum aims to strengthen its role as a global financial infrastructure, especially in volatile economies.
Bullish
Vitalik Buterin’s emphasis on Ethereum decentralization and the real-world data showing DEX resilience reinforce confidence in ETH’s fundamentals. Short-term, rising DEX volumes and stable USDe prices may boost on-chain activity and trader interest in ETH. Long-term, addressing governance centralization and engaging regulators via the Ethereum Protocol Advocacy Alliance can enhance institutional adoption and network security. Overall, this bolstered trustless architecture and proactive governance reforms are likely to drive positive market sentiment for ETH.