I just feel a growing sense of cognitive dissonance In Crypto today?
The crypto industry has always had revolutionary roots. It appeared in 2008 with the Whitepaper of Bitcoin, a direct response to the financial crisis that destroys livelihoods while protecting a systematic error, corrupt banking system. Bitcoin is not just a modern technology – it is a political and ideological statement. It is a signal that the builders are ready and think to challenge the status quo with tools, not just words.
As someone who has worked in Crypto for many years, I should celebrate. Today, decentralized technologies are no longer in the pendant. Fintechs adopt stablecoins. Bitcoin ETFs trade in traditional exchanges. The average person was heard by the blockchain. From Capitol Hill In Davos, the crypto is no longer laughing outside the room.
But despite the level “legitimate on this surface,” I couldn’t help but feel that something important was gone. Crypto ethos-the amounts of cypherpunk we got here-have melted, co-opted, and in some cases, being betrayed directly.
The Cypherpunk The basic belief of the movement is that technology can and should be used to redefine power – far from over the overreach of governments and monopolistic corporations, and individuals. Peer-to-peer networks, end-to-end encryption, platform resistant to censorship-it’s not buzzwords; These are promises to improve our society.
Stripe Getting Crypto infrastructure startups? Great, but it doesn’t create legitimacy in the crypto industry. That is a Big Fintech survival to remain relevant and improve their product offer. Circle Going Public is a corporate milestone, not a validation of crypto principles. A Bitcoin ETF can bring liquidity, but it does not bring ideological alignment.
These fintech brands do not lead a movement – they respond to it. They try to keep up with crypto-native upstarts that quickly render their legacy models that are obsolete.
Let us not confuse the proof. Just because of the suits that are now interested in the tools we have built does not mean they understand, respected, or intention to maintain the factors that those tools exist.
Crypto should not be another tool in the hands of the state. This should be counterweight.
So it is understood that the recent revival of political relationships and clearer regulation frameworks -such as the Genius Act -such as developing. Applications such as Coinbase and Polymarket get household recognition. President Biden’s successor has expanded an olive branch in the industry.
But somewhere along the way, many of us seem to have lost the plot.
A dazzling example? The recent coinbase sponsor of a military parade associated with President Trump.
This is not a partisan critique. This is a principal. Coinbase’s mission statement emphasized that political causes are a “chaos from our mission.” However, in practice, the company has repeatedly aligned itself in political events-from sponsoring the president’s inauguration funds in political favor in the accelerated hire of ex-DOGE staff.
CEO Brian Armstrong’s Recent request Former DOGE employees are a bit slippery: “If you are looking for your next mission after serving your country, consider helping to create a better financial system for the world in Coinbase.”
That framing – the tying of Coinbase’s mission in the state – implies a creeping integration between the trustees of the crypto and the very structures of power that we deliberately count.
Yes, Coinbase is a company that has been publicly exchanged. Yes, it operates in a jurisdiction that is governed by laws and politics. But being following does not mean being co-opted. The sponsor of political events, which aligns with political figures, and revenue from proximity to power disrupts the ethical foundation of decentralized technology.
And Coinbase is not alone. Crypto -funded super PACs pour money into elections at every level. Ripple is now a lobbying juggernaut in DC that we still count on FTX corruption corruption-where political donations and influence-peddling are manipulation tools, not participating.
This is not a slippery slope. We’ve been sliding.
Cypherpunkism is more than an aesthetic or an ideology. It is a commitment to developing systems that make centralized power obsolete – disallowed or agreed, but irrelevant. It is about developing tools that empower individuals, maintain privacy, and promote a more open and resilient society.
Founders, investors, and institutions need to visit these roots again. The purpose of the blockchain is not to copy traditional systems with shinier branding in politicized military gatherings – it is fundamentally to change how those systems work. To create a future where financial freedom, privacy, and open access are not privileges, but defaults.
Yes, we must engage with regulators. Yes, we should work within legal frameworks. But that is a big cry from being their cheerleaders. There is a difference between the system’s navigation and its consumed. There is a difference between playing the game and forgetting why you joined it in the first place.
We owe the movement – and to ourselves – to remember why crypto exists. Not to comfort the governments, but to fulfill them with responsibility. Not to win political favor, but to give such a favor unnecessary. Not to build brands, but to produce freedom.
The real Cypherpunks are still out there. But time we make our voices again.
