Am I the only one who feels that codes are growing a sense of cognitive dissonance right now?
The crypto industry has always had innovative roots. It was featured in the Bitcoin White Paper in 2008. This is a direct response to the financial crisis that destroys livelihoods while protecting systematically deficit and corrupt banking systems. Bitcoin was not just a technological innovation, it was a political and ideological statement. A signal that builders and thinkers are ready to challenge the status quo with tools, not just words.
As someone who has worked at Crypto for years, I should celebrate. Today, decentralized technology is no longer in fringes. FinTech uses stub coins. Bitcoin ETFs are traded on traditional exchanges. The average person has heard of blockchain. From Capitol Hill to Davos, Crypto was no longer laughed at from his room.
But despite this surface-level “legitimacy,” I can’t help but feel that something essential is missing. The Crypto spirit – the Cypherpunk values that led us here – have been diluted, adopted and in some cases directly betrayed.
A core belief in the Cypherpunk movement is that technology can and must be used to readjust power. From overreach of governments and monopolistic companies, and from inheritance to individuals. Peer-to-peer networks, end-to-end encryption, censorship–these are not buzzwords. They are our commitment to improving our society.
Getting Started with Crypto Infrastructure Stripe? It’s great, but it doesn’t create legitimacy in the crypto industry. It is a survival move by Big Fintech to stay relevant and improve product delivery. Circle Going Public is a corporate milestone and not a test of Crypto’s principles. Bitcoin ETFs can provide liquidity, but not ideological integrity.
These fintech brands are not leading the movement. They’re responding to it. They are quickly trying to keep pace with startups from crypto as they make their legacy models outdated.
Don’t confuse acquisitions with verification. Just because suits are interested in the tools we have built, we don’t intend to understand, respect or preserve why those tools exist.
Crypto was not thought to be another tool in the hands of the nation. It should be a counterweight.
It is therefore understandable that the recent increase in political engagement and the clearer regulatory frameworks, such as genius acts, are like advancements. Applications like Coinbase and Polymarket have gained household awareness. President Biden’s successor has expanded the olive branch into the industry.
But somewhere along the way, it appears that many of us have lost the plot.
An obvious example? Coinbase’s recent military parade sponsorship with President Trump.
This is not a partisan criticism. That’s a principle. Coinbase’s mission statement emphasizes that the political cause is “a distraction from our mission.” But in reality, the company has repeatedly been consistent with political events. He is seeking political favor from sponsors of the President’s Inaugural Fund with the prompt hiring of former Dodge staff.
CEO Brian Armstrong’s recent solicitation of Doge employees has been extremely moving. “If you are looking for your next mission after serving your country, consider helping Coinbase create a more efficient financial system in the world.”
Its framing – Acquire Coinbase’s mission to the nation – captivates the creeping fusion between the cryptography stewards and the very power structures we were meant to offset.
Yes, Coinbase is a publicly available company. Yes, it works in law and politics-compliant jurisdictions. However, compliance does not mean that it will be adopted. Working with political events sponsors, political figures and changing the benefits from proximity to power is undermining the ethical foundations of decentralized technology.
Coinbase is not alone. Encrypted Super PACs pour money into elections at all levels. Ripple is currently the Juggernaut, a lobbying activity for DC. We still consider the incredible corruption that is FTX. Political contributions and influence were tools of manipulation rather than participation.
This is not a slippery slope. We’re already sliding.
Cypherpunkism is more than aesthetics and ideology. This is a commitment to building a system that eliminates centralized power, and neither tolerance nor negotiation is involved. It is about building tools that empower individuals, maintain privacy and promote a more open and resilient society.
Crypto founders, investors and institutions should revisit these roots. The purpose of blockchain is not to replicate traditional systems in politicized military gatherings with shiny branding, but to fundamentally change how those systems work. Creating a future where economic freedom, privacy, and open access is not a privilege but a default.
Yes, you have to interact with regulators. Yes, it needs to work within a legal framework. But that’s far from becoming their cheerleaders. There is a difference between navigating the system and being consumed by it. There is a difference between playing a game and forgetting why you joined in the first place.
To remember why codes exist, we owe it to the movement and ourselves. Rather than appease the government, it is to hold it accountable. To make such favor unnecessary, rather than winning political favors. To build freedom, not to build brands.
The real cypherpunks are still there. But that’s when we hear our voices again.
