Response from Ethereum founder to Bitcoin advocate Saylor

A new debate has ignited in the world of cryptocurrency. Michael Saylor's proposal to hold Bitcoin in "too big to fail" banks has resonated significantly, especially when considered alongside similar statements following the collapse of the FTX cryptocurrency exchange.

A Lesson in Decentralization from Crypto Leaders to Saylor

Ethereum founder Vitalik Buterin responded to Casa security director Jameson Lopp's post emphasizing the importance of personal custody methods. Buterin interpreted Saylor's proposal as a "regulatory control approach."

ShapeShift founder Erik Voorhees stated that personal custody is a fundamental control mechanism that prevents centralization. Voorhees expressed that Saylor's disregard for this fundamental principle is "completely inappropriate."

Saylor targeted "crypto-anarchists" in an interview with financial markets reporter Madison Reidy. He argued that the failure of unregulated institutions to meet tax and reporting obligations increases the risk of asset seizure.

The Blockware team recalled that Saylor expressed similar views in an interview with chief analyst Joe Burnett in 2022. It was noted that these statements were made three weeks after the collapse of FTX and the loss of Bitcoin by users who had remained on the platform.