On April 17, Ameen Soleimani, an influential figure within the Ethereum community, released a series of pointed critiques regarding what he perceives as a troubling cultural shift in Ethereum’s ecosystem. Soleimani, who notably created MolochDAO, a decentralized funding organization instrumental in Ethereum infrastructure development, issued his comments in response to a set of abstract principles recently endorsed by Ethereum Foundation researcher Justin Drake and co-founder Vitalik Buterin.
In his analysis, Soleimani described Ethereum’s culture as increasingly detached from practical realities, labeling it a growing “religion” obsessed with vague ideals rather than constructive problem-solving and concrete accountability. He warned that a reliance on idealistic narratives risks sidelining real-world operational issues critical for Ethereum’s sustained development and adoption.
A significant focal point of Soleimani’s concerns lies in Ethereum’s persistent dependence on centralized stablecoins like Tether’s USDT and Circle’s USDC. He pointed to the paradox that, while Ethereum champions decentralization and resilience against censorship, the majority of its decentralized finance (DeFi) activities currently rely heavily upon these private, centralized assets. Together, USDT and USDC alone represent more than $100 billion in liquidity and are integral to Ethereum’s decentralized exchanges, lending markets, and other financial tools. The critical issue raised is the extent of control these stablecoin providers retain, such as their legally sanctioned ability to freeze accounts or block transactions, an authority at odds with Ethereum’s decentralization narrative.
Soleimani likewise took issue with the notion of Ethereum as an apolitical system. Although inherently permissionless and decentralized at the protocol level, Ethereum’s growth has necessitated increased interaction with governmental and regulatory authorities across jurisdictions. Soleimani noted that many Ethereum validators, node operators, developers, and custodians operate within nations such as the United States, Germany, and Singapore, and thus must be responsive and compliant to various regulatory constraints. He acknowledged Ethereum Foundation’s engagements, including Vitalik Buterin’s informal discussions with regulatory representatives from countries like Argentina and Montenegro. Soleimani emphasized the need for Ethereum to recognize these realities openly, highlighting that Ethereum is becoming increasingly embedded in political and regulatory arenas, despite its aspirations toward neutrality.
Additionally, Soleimani examined the wider implications of Ethereum’s principle of “permissionless innovation,” particularly through the lens of recent cases such as Tornado Cash, the Ethereum-based privacy protocol sanctioned in 2022 by the U.S. Treasury, allegedly for facilitating money laundering. The resultant legal actions led to notable arrests, including developers Roman Storm and Alexey Pertsev, underscoring the acute legal risks facing protocol authors in a decentralized setting. Soleimani criticized those within Ethereum’s community who champion the simplistic notion that “code is speech” and thus automatically shielded from legal consequences. He strongly argued for realistic assessments of legal threats, advocating that the Ethereum community needs to invest considerably more resources into legal strategies, compliance awareness, and active policy engagement.
Another central concern raised by Soleimani regards Ethereum’s underlying economic security in a proof-of-stake environment. Ethereum transitioned away from proof-of-work mining to proof-of-stake consensus in 2022, making its network security directly contingent upon ETH’s market value. He challenged assertions made by prominent Ethereum researchers, who downplayed the significance of ETH’s price, by highlighting that a significant erosion in ETH’s market price could lead to an unattractive staking climate, thereby jeopardizing Ethereum’s network security.
Finally, Soleimani contended that Ethereum can move forward productively only if it openly addresses the contradictions that have become apparent in recent years. Calling upon the community to acknowledge complex realities involving centralization risks, regulatory engagement, and the economic dependence of Ethereum’s security on the value of ETH, he argued that continued adherence to overly idealistic narratives risks undermining Ethereum’s longevity.
While critical of many positions held by the community, Soleimani nevertheless expressed hope that Ethereum can confront these issues head-on. He cited past examples—like the shift toward the “ultrasound money” narrative—as evidence that the community can adapt effectively when it chooses to do so. Moving forward successfully, he concluded, requires Ethereum to candidly assess internal tensions, thoughtfully engage with external realities, and implement pragmatic solutions that reinforce the network’s resilience and long-term viability.
