Vitalik Buterin, the co-founder of Ethereum, recently expressed empathy for Solana (SOL) and other projects facing significant challenges.
Buterin recently posted on social media to show his support for Solana and other projects that are under scrutiny from authorities. He said that he doesn’t think they deserve it and that if Ethereum “wins” by being the only blockchain that is not regulated, then it will not be a true victory.
Financial regulators from all around the world are looking more closely at Solana as they try to categorize it as a security. If Solana is classified as a security, it could face significant limitations on its market reach and trading. Regulatory requirements for securities differ from those for other kinds of assets, which explains the reason.
Solana has been on a bumpy road to recovery since the FTX crash. While it has managed to bounce back, the regulatory landscape has made things more difficult.
Buterin’s sympathetic comment highlights the challenges that the entire blockchain industry is experiencing. Instead of a rivalry between Ethereum and other projects, he views the actual battle as the centralized world exerting itself on the blockchain and cryptocurrency space.
Buterin’s post highlights the importance of cooperation in the blockchain industry. He argues that Ethereum’s victory would not be meaningful if it came at the expense of other projects being shut down by exchanges. He believes that the industry needs to stand together to face the threats posed by the centralized world.