Bankless Co-founder: ETH will either reach hundreds of trillions in scale, or everything will be meaningless

ChainCatcher news, Bankless co-founder Ryan Sean Adams stated on social media that if a DeFi system on an L1 public chain can be shut down by an email from the Treasury (because all liquidity pools, collateral, and trading pairs are backed by US government-supported stablecoins), then this is just fintech with additional steps.

Adams emphasized that if we want a truly sovereign internet currency system (which is what the crypto industry once cared about), we need a large-scale economic asset that can compete with G7 countries as the base currency. He stated, "ETH needs to reach tens of trillions in scale, or the whole endeavor will be meaningless."

In response, Solana co-founder Anatoly Yakovenko remarked that traders have always been dealing with custody risks, and banks can also fail. If there is enough bandwidth to manage all markets, this is technically a feature.