Ethereum veteran Ameen Soleimani launched a bold critique of the network’s current culture, calling it a “religion” that has drifted from practical reality. His viral thread on X ignited widespread conversation within the crypto community, challenging both ideological assumptions and operational norms across the Ethereum ecosystem.
A Veteran Sounds the Alarm
Soleimani, best known for founding MolochDAO and co-creating SpankChain, is no outsider. With deep roots in Ethereum’s early infrastructure development and privacy advocacy, his words carry weight. His post—written mid-flight and in a candid, unfiltered tone—was a direct response to Ethereum Foundation researcher Justin Drake, whose values-driven post was co-signed by Vitalik Buterin.
Soleimani criticized what he sees as Ethereum’s overreliance on abstract ideals and euphemistic messaging, warning that such narratives often distract from grounded problem-solving and technological accountability.
“I despise the part of the Ethereum religion that promotes euphemisms over reality,” he wrote.
The Stablecoin Paradox
One of Soleimani’s key concerns centers on Ethereum’s dependency on centralized stablecoins, namely USDT and USDC, which dominate DeFi liquidity and daily transaction volume. While Ethereum promotes itself as the home of decentralized finance, much of its infrastructure is reliant on fiat-backed tokens issued by private entities.
This raises uncomfortable questions: Can Ethereum claim to be truly decentralized if its financial plumbing depends on companies that can freeze funds or comply with state directives?
The current ecosystem reflects a mismatch—Ethereum’s protocol is permissionless, but many of its financial instruments are not.
Political Neutrality or Policy Engagement?
Soleimani also addresses Ethereum’s growing entanglement with governments and regulatory bodies. While the protocol itself remains neutral, its stakeholders—including validators, developers, and infrastructure providers—must navigate complex legal environments.
From validator operations in the U.S. and Germany to Vitalik Buterin’s policy engagements in Argentina and Montenegro, Ethereum is increasingly enmeshed in regulatory frameworks. This evolution underscores the tension between Ethereum’s decentralized ideals and the reality of operating in a law-governed world.
The Tornado Cash Dilemma
Perhaps the most sensitive point in Soleimani’s critique involves the Tornado Cash saga. After U.S. regulators sanctioned the protocol in 2022, multiple developers were arrested. While parts of the community rallied behind the mantra “code is speech,” Soleimani argued this oversimplifies legal complexities.
He stressed that defending permissionless innovation now requires more than slogans—it demands legal foresight and institutional support. The arrests of Tornado Cash developers have exposed the vulnerabilities of builders operating in grey regulatory zones.
ETH’s Price and Network Security
Soleimani further challenged a notion once floated by Justin Drake: that Ethereum doesn’t necessarily need a high token price to function securely. In contrast, Soleimani asserted that ETH’s price is directly tied to the security of the proof-of-stake system.
With ETH trading at roughly $1,570 as of April 18—down over 52% from recent highs—the concern is more than theoretical. A low token price reduces validator incentives and weakens Ethereum’s security budget, while also making it cheaper to attack the network.
The implication is clear: Ethereum’s long-term health relies, in part, on a strong and sustainable token economy.
Can Ethereum Self-Correct?
Despite his sharp tone, Soleimani’s thread does not reject Ethereum—it challenges it to evolve. He points to past instances where the community adapted, such as the emergence of the “ultrasound money” narrative. The takeaway is that Ethereum has the capacity to reflect, course-correct, and grow stronger.
The question now is whether Ethereum’s builders, users, and leaders can confront uncomfortable truths and navigate the trade-offs that come with real-world adoption.
“Decentralization isn’t a finish line—it’s a series of hard choices,” his message implies.
Final Thoughts
Ameen Soleimani’s critique strikes a nerve because it hits close to Ethereum’s core identity. It’s not just about price or policy—it’s about values, accountability, and the tension between ideals and execution.
In calling out the ecosystem’s blind spots, Soleimani invites Ethereum to move forward not with dogma, but with clarity, pragmatism, and renewed purpose.
