Vitalik Buterin, co-founder of Ethereum, argues that cryptocurrencies don’t belong in traditional banks, emphasizing that their core value lies in decentralisation. Buterin believes that when crypto assets are entrusted to large banks or centralised institutions, it contradicts the fundamental principles of blockchain technology and digital currencies, which were designed to give individuals control over their assets without relying on intermediaries.

Buterin’s viewpoint reflects a common concern within the crypto community that involvement with banks could pave the way for centralisation, essentially making cryptocurrencies subject to the same centralised control they were meant to avoid. In his view, handing crypto assets over to banks or large financial institutions risks recreating the traditional financial system’s structures, undermining Bitcoin and Ethereum's vision of democratising finance.

The concerns he raises suggest that if large banks were to handle and control a significant share of cryptocurrencies, they could start influencing policies, charge hefty fees, and potentially limit access for some users. This scenario would mimic the restrictions and gatekeeping seen in traditional finance, which crypto enthusiasts often criticise. Additionally, such a trend might lead to regulatory crackdowns, as authorities could more easily control crypto through banks.

Buterin advocates for self-custody solutions and decentralised financial (DeFi) platforms, which allow individuals to retain control over their assets. DeFi platforms offer tools to lend, borrow, and trade without intermediaries, keeping the decentralised ethos alive and ensuring that users remain the custodians of their own digital asset#CryptoFreebies #CryptoNewss #DecentralizedFuture" #DefiPoolz $ETH