Vitalik Buterin criticised US securities laws, saying they encourage useless activities and vague returns.
Vitalik Buterin is a core co-founder of Ethereum blockchain, one of the most influential crypto blockchain platforms in the digital world. As a leading figure in the crypto sector, he has significantly shaped the development of decentralised applications (dApps) and smart contracts, promoting innovation and growth within the industry.
On 29 June 2024, Vitalik Buterin took to Warpcast, a decentralised social media app, to express his strong frustration with the US Crypto regulatory system.
Buterin criticised the US classification of securities, stating that the existing system promotes useless activities and vague potential returns.
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According to Buterin, US Securities law penalises those that offer clear explanations and rights to investors as “securities.”
He slammed the current regulatory environment for penalising projects that provide clarity while allowing others to operate freely despite their lack of substantial value or clear investment propositions.
Furthermore he advocates for a shift where digital tokens without clear long-term value propositions are seen as riskier, and projects providing transparency and following best practices are supported.
Buterin believes achieving this requires genuine collaboration between regulators and industry stakeholders.
Vitalik Buterin’s net worth
Vitalik is a highly respected crypto entrepreneur in the crypto space.
On 30 June 2024, Crypto & blockchain intelligence firm Arkham reported that the current net worth of Buterin is $552.86M.
Report noted that Buterin’s estimated net worth of approximately $552.86 million stems primarily from his early involvement and significant holdings in Ethereum (ETH). In June 2014, he received a $100,000 grant from the Thiel Foundation, enabling him to focus entirely on developing Ethereum after dropping out of the University of Waterloo. During Ethereum’s pre-sale in Summer 2014, participants acquired ETH by paying in BTC, with Buterin retaining a substantial portion of the initial supply allocated to founders, which included over 72 million tokens.
The meteoric rise in ETH’s value, particularly when it surpassed $3,000 per token in 2021, catapulted Buterin’s net worth into the billionaire range temporarily. Beyond his holdings in ETH, Buterin has also invested in various crypto ventures such as StarkNet, further contributing to his wealth accumulation. While his known crypto holdings alone account for a significant portion of his wealth, his actual net worth is likely higher, factoring in potential undisclosed crypto assets and non-crypto investments and equity stakes in numerous projects he has supported over the years.
Vitalik Buterin Slams US Securities Laws: ‘System Promotes Useless Activities and Vague Returns’
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