Ethereum Developer Jumps into Politics, Criticizing Wall Street and Political Establishment Simultaneously

▲ Ethereum (ETH), U.S. Congress, U.S. Election/AI-generated image

An Ethereum (Ethereum, ETH) developer has declared his challenge to the U.S. Federal Congress, openly criticizing the established political establishment and Wall Street, drawing significant attention from the virtual asset industry.

Joe Schiarizzi, an Ethereum developer well-known as an OpenSea contributor, officially confirmed in an interview with Paul Barron, host of the cryptocurrency media outlet Paul Barron Network, on April 17 (local time), his candidacy for the 7th Congressional District of Virginia. At the same time, he pledged financial reform based on his technical expertise. Schiarizzi, who has led decentralized finance and renewable energy tokenization projects since joining Consensys in 2017, has strongly criticized the structural problems of the existing financial system.

Schiarizzi pointed out the unequal financial structure, mentioning the damages his family suffered during the 2008 financial crisis. He stated, “The current Congress, with its low understanding of technology, cannot keep up with the rapidly changing financial environment,” adding, “Political participation by crypto-native developers is necessary.”

Regarding the U.S. Cryptocurrency Market Structure Bill (Clarity Act), considered a key legislative task for the virtual asset industry, he presented securing regulatory clarity as the top priority. Schiarizzi stated that even if the bill includes a provision prohibiting stablecoin interest income, he could support its passage if privacy protection and the right to self-custody of assets are guaranteed. His position is that clear rules must be established to protect investors and curb fraudulent activities in the market.

He continued with strong criticism regarding Donald Trump's virtual asset project, World Liberty Financial. Schiarizzi characterized the project not as decentralized finance but as a structure aimed at capital outflow, stating, “World Liberty Financial is a typical example of using community support for private gain.” He further emphasized that the Web3 industry should focus on the essence of technology rather than being swayed by political agitation.

As for policies concerning people's livelihoods, he put solving housing issues front and center. Schiarizzi proposed expanding housing supply by utilizing federally owned land, along with declaring a national housing emergency. He explained that an approach focused on expanding supply, rather than short-term subsidies, is necessary.

Energy policy was also presented as a major agenda item. Schiarizzi mentioned that Bitcoin (Bitcoin, BTC) mining and the expansion of the artificial intelligence industry are contributing to rising local electricity costs and urged the development of measures to alleviate household burdens. This approach reflects the characteristics of Virginia, where data centers are concentrated.

Schiarizzi emphasized his political independence, stating that he would not accept funding from bank lobbyists or specific interest groups. He presented the goal of transparent government operations using virtual asset technology, along with the introduction of national healthcare. Schiarizzi's actions, taking on a role within Congress as a technology expert, are leading to a trend that will influence the political sphere and the virtual asset industry as a whole.

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