{"id":31319,"date":"2024-10-23T15:24:41","date_gmt":"2024-10-23T12:24:41","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31319"},"modified":"2024-10-23T15:24:41","modified_gmt":"2024-10-23T12:24:41","slug":"vitalik-buterin-slams-saylors-push-for-big-bank-bitcoin-custody-as-batshit-insane","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/vitalik-buterin-slams-saylors-push-for-big-bank-bitcoin-custody-as-batshit-insane\/","title":{"rendered":"Vitalik Buterin Slams Saylor\u2019s Push for Big Bank Bitcoin Custody as \u2018Batshit Insane\u2019"},"content":{"rendered":"

Ethereum co-founder Vitalik<\/strong> Buterin<\/strong> has fiercely criticized MicroStrategy founder Michael Saylor\u2019s recent comments advocating for Bitcoin custody through large banks. Buterin labeled the idea as “batshit insane,” expressing his dismay that Saylor, once a strong proponent of self-custody, now suggests relying on “too big to fail” banks like BlackRock and Fidelity to hold Bitcoin.<\/p>\n

Vitalik Buterin<\/strong> argued that Saylor\u2019s stance promotes a \u201cregulatory capture\u201d approach that contradicts the core principles of cryptocurrency. He emphasized that crypto was designed to resist centralization and government intervention, not to be managed by large financial institutions deeply integrated with regulatory authorities. According to Buterin, entrusting Bitcoin to traditional banks could lead to failures, undermining the decentralized ethos of crypto.<\/p>\n

\"vitalik<\/p>\n

Saylor\u2019s comments have sparked significant backlash. Notably, Casa\u2019s Jameson Lopp and ShapeShift founder Erik Voorhees joined the debate, championing self-custody as critical to Bitcoin\u2019s decentralized network. Voorhees stated that self-custody is the \u201ccheck\u201d that prevents centralization and corruption in the ecosystem.<\/p>\n

Might interest you: What is BabyDoge?<\/a><\/em><\/p>\n

The controversy follows Saylor\u2019s interview on Oct. 21, where he also criticized \u201ccrypto-anarchists\u201d and warned that non-regulated entities increase the risk of asset seizure. His shift in opinion has drawn ire from many in the crypto space, who view it as a departure from Bitcoin’s core values.<\/p>\n

\n

You can join our Telegram<\/a> <\/strong>channel to not miss the news and stay informed about the crypto world.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum co-founder Vitalik Buterin has fiercely criticized MicroStrategy founder Michael Saylor\u2019s recent comments advocating for Bitcoin custody through large banks. Buterin labeled the idea as “batshit insane,” expressing his dismay that Saylor, once a strong proponent of self-custody, now suggests relying on “too big to fail” banks like BlackRock and Fidelity to hold Bitcoin. Vitalik<\/p>\n","protected":false},"author":6,"featured_media":31321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[8993,1724,9085],"class_list":["post-31319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-vitalik","tag-vitalik-buterin","tag-vitalik-buterin-saylor"],"yoast_head":"\nVitalik Buterin Slams Saylor\u2019s Push for Big Bank Bitcoin Custody as \u2018Batshit Insane\u2019 - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/vitalik-buterin-slams-saylors-push-for-big-bank-bitcoin-custody-as-batshit-insane\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vitalik Buterin Slams Saylor\u2019s Push for Big Bank Bitcoin Custody as \u2018Batshit Insane\u2019 - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ethereum co-founder Vitalik Buterin has fiercely criticized MicroStrategy founder Michael Saylor\u2019s recent comments advocating for Bitcoin custody through large banks. 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