Solana will not kill Ethereum, the license of the “ETH Elite”.

Evgeny Gaevoy, CEO of crypto market maker Wintermutt, recently expressed concerns about the leadership of Ethereum (ETH).

According to Gaevoy, Ethereum's potential downfall compared to competitors such as Solana will not be due to technical weaknesses, but rather conflicts within its leadership.

Wintermute CEO highlights leadership paradox in Ethereum

Gaevoy criticized Ethereum's leadership, particularly the network's founder Vitalik Buterin, for their opposing stances on capitalism and social justice. He believes that Ethereum's failure comes from these conflicting goals rather than technical issues.

“If ETH fails in the future, it's not because Solana is fast, it's because ETH ‘elite' is still in high conflict,” X wrote on his Twitter account.

Read more: Solana vs. Ethereum: The Ultimate Comparison

Gaevoy claims that blockchain technology will advance capitalist systems. Yet leaders like Buterin and Hayden Adams, co-founder of Ethereum-based decentralized exchange (DEX) Uniswap, try to address capitalism by asserting worthy societal interests.

He believes that one cannot build a capitalist and planned socialist system. Gaevoy prefers capitalism to socialism.

Gevoy's criticism comes amid a wider debate sparked by Buterin's criticism of celebrity meme coins. Buterin emphasized that crypto projects should serve broader societal goals beyond just generating revenue. This prompted Australian singer Iggy Azalea to respond, coining the phrase Mame—Mother Iggy (Mother).

During the podcast, Azalea questioned Buterin's stance on gas bills. Her comment, revealing the Ethereum gas payment misunderstanding, went viral and drew derision from the crypto community.

The argument escalated when Adams joined the fray. Instead of addressing her concerns constructively, he criticizes Azalea for teasing Buttery.

Gevoy's comments sparked controversy in the crypto community. While some agree with his views, many disagree. A community member responded to Gevoy by pointing out that Buterin and Adams only expressed their vision of crypto that does not conflict with the principles of capitalism.

The member pointed out that their critique is more about ensuring long-term sustainability and growth in the crypto space. In response to the incident, Gaevoy issued an explanatory statement.

“For me, it's about the core guiding principle. If your key guideline is capitalism and then you take extra steps to do less harm, I'm all for it. “I don't know if the guiding principle is ‘social justice' or ‘just building good things,' and then if you associate capitalism with backwardness, that's what I'm against,” he said.

Read More: When Are Ethereum Gas Charges Lowest?

Nevertheless, Gevoy's criticism highlights the challenges ahead for Ethereum leaders. The balance between economic incentives and social goals remains controversial throughout Ethereum's evolution.