Buterin: “Ethereum is neutral, I am not”

Ethereum co-founder Vitalik Buterin has blasted Russian President Vladimir Putin on Twitter over the “special military operation” launched by Russia on Ukraine in the early hours of Thursday.

Buterin said that he was upset with the fact that peaceful means were taken off the table to wage a war on the Eastern European country instead.

Buterin, who is a Russian-Canadian, sided with Ukraine and argued that Putin’s decision was a crime against both Ukrainian and Russian people. “I want to wish everyone safety and security, even though I know there won’t be”, he added.

As previously reported, crypto markets have responded to the declaration of war as well, with the price of Bitcoin declining by 3.8% and ethereum’s price tumbling by 5.2%.

The fact that both currencies have been impacted by a real-world event has put the claim that they may serve as a hedge against geopolitical shifts or economic shocks to a test.

As the International Monetary Fund warned earlier this month, financial institutions are becoming too involved in crypto which exposes them to shocks disproportionate to the size of their involvement. Apparently, the latter is also true.

Crypto market analyst at Bitbank Yuya Hasegawa offered commentary on the situation: “[The] safe haven narrative has almost completely fallen apart as the rising possibility of military conflict and the worsening US-Russia relationship puts the wider financial market in risk-aversion mode.”

Buterin has been known to criticize the Russian President on several occasions. Earlier in February, the Ethereum co-founder argued that an attack on Ukraine may only lead to harm for Ukraine, Russia, and humanity. “Power is a zero-sum game”, the tech entrepreneur said in one of his interviews back in 2016.

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Updated: 02/24/2022 — 06:00