- There’s speculation regarding Buterin’s potential absence from the crypto summit
- More than half of World Liberty Financial’s portfolio is ETH
- The company has notable investments in Ethereum-based tokens such as WBTC and USDC
With the upcoming crypto summit on March 7, Ethereum seems to be one of the main topics. Interestingly, this is not because of the potential discussion that might take place, but for the fact that Vitalik Buterin, co-founder of Ethereum and one of the most prominent figures in the crypto world, apparently isn’t on the invite list.
This is yet to be 100% confirmed, but considering we already know other crypto experts and enthusiasts will attend, it’s, at the very least, odd that there’s no confirmation about him attending.
World Liberty Financial’s Big Bet on ETH
What’s more, Donald Trump’s crypto company World Liberty Financial has a huge amount of ETH in its portfolio—over 57%, to be exact. Other key allocations are: WBTC (wrapped Bitcoin, which coincidentally is an Ethereum-based token) at 18.93%, and USDC (USD Coin that operates as an Ethereum ERC-20 token) at 13%.
Related: Ethereum (ETH) Price Prediction for March 6: Crypto Summit and Technicals Shape Short-Term Outlook
Looking at the numbers, ETH dominates the company portfolio. It certainly appears that World Liberty Financial is betting on Ethereum’s continued dominance in powering DeFi, NFTs, and other blockchain innovations.
Ethereum’s Leadership
However, ETH appears to have difficulties in this current bull run and is yet to reach a new all-time high. Buterin’s potential absence from the summit could have a negative effect on the cryptocurrency, especially considering the recent events with the Ethereum Foundation and the appointment of the new CEO.
Mainly, many early Ethereum enthusiasts and long-time community members value Ethereum’s original ethos of decentralization and open collaboration. As such, some fear that adopting a more corporate management style might dilute these ideals, since the foundation has historically operated with a decentralized leadership model and strong influence from Buterin.
Related: Vitalik Buterin Responds to Poll Questioning His Role in Ethereum: ‘King’ or ‘Prophet’?
Still, some say this is positive news, but there is no denying the current uncertainties regarding ETH. One must wonder if World Liberty Financial’s big allocation of Ethereum is a good move.
The possible exclusion of Vitalik Buterin from the crypto summit could signal a divergence between the regulatory priorities of the government and the decentralized ideals championed by Ethereum’s creators. How this will affect the cryptocurrency is yet to be seen, but good or bad, it looks like ETH is up for some eventful times in the future.
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