‘are they in it for the right reasons?’

Ethereum co-founder Vitalik Buterin issued a warning on Wednesday against choosing a candidate based solely on whether they claim to be “pro-crypto.” Buterin said in a blog post that it’s more important to examine a candidate’s broader policies to make sure they support the cryptocurrency’s core goals, such as internationalism and the protection of private communications.

“If a politician is pro-crypto, the fundamental question to ask is: Are they doing it for the right reasons?” Buterin wrote. “Do they have a vision of how technology, politics, and economics should progress in the 21st century that aligns with your vision?”

While Buterin didn’t mention any politicians or crypto investors by name, his comments come just a day after Marc Andreessen and Ben Horowitz endorsed former President Donald Trump in the 2024 presidential election. The Andreessen Horowitz founders stated on a podcast yesterday that Trump’s crypto regulation plan is a “complete endorsement of the entire space.” The influential VCs join the ranks of other major Silicon Valley players, including Elon Musk, who endorsed Trump last week.

The Ethereum co-founder also argued that stating that you support “pro-crypto” candidates could encourage politicians to support the cause in bad faith. Buterin notes that authoritarian leaders in Russia, in particular, have claimed to support crypto in an effort to consolidate power.

“Whether they support a ban on encrypted messaging, are a power-hungry narcissist, or are pushing bills that will make it harder for your Chinese or Indian friends to attend the next crypto conference, all politicians have to do is make it easier for you to trade coins,” Buterin said.

The Ethereum co-founder suggested looking at a “crypto-friendly” politician’s views on crypto five years ago, which he says can serve as a guide to whether the politician would change their position five years from now.

Notably, former President Trump came out strongly against decentralized tokens five years ago. In a July 2019 tweet, Trump said he was “not a fan of Bitcoin and other Cryptocurrencies which are not money.” In a subsequent tweet, he said, “We only have one real currency in the US,” referring to the US dollar.

But in May, Trump made a complete change in his stance on cryptocurrencies, becoming the first major presidential candidate to accept Bitcoin donations. The Wall Street Journal reports that Trump’s crypto fundraising efforts raised $3 million in donations in the second quarter.