• Vitalik Buterin backed the idea of Ethereum treasury companies but warned about the dangers of excess leverage.
• Ethereum has completed a decade, expanding into DeFi, NFTs, and beyond while overcoming major hurdles.
• Collaboration and privacy remain at the heart of Ethereum’s long-term vision.

Ethereum co-founder Vitalik Buterin also commented on ETH treasury companies in his recent Bankless interview. He referred to the companies as beneficial in the sense that they contribute funds to purchase ETH, adding more avenues by which one can have exposure to the asset.

Such a setup, in his opinion, can contribute value to the equation as long as it’s done with caution. Buterin also cautions that irresponsible over-leveraging by such entities can be detrimental, but thinks the bulk of the organizations in the ecosystem have sustainability in consideration.

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Buterin Reflects on Ethereum’s Journey and Milestones

Marking ETH’s tenth year, Buterin reflected on the network’s journey from whitepaper to one of the world’s largest blockchain platforms.

He admitted he first saw ETH as a short-lived side project while in university. Instead, it has grown into a global ecosystem that continues to shape the direction of decentralized technology.

Over the years, it has delivered milestones that went far beyond early expectations. DeFi applications, stablecoins, and NFTs reshaped digital assets, with the platform at the center of each movement.

There were also setbacks, from the DAO’s collapse to hard fork disputes, but its open and collaborative culture allowed it to move forward. Buterin said the project constantly raised its standards, which slowed progress but ensured stronger outcomes.

Its biggest contribution, he argued, is fostering decentralization and openness, much like the open-source software culture of earlier decades.

The network has enabled innovations such as prediction markets, DAOs, and decentralized governance, turning ideas once confined to theory into practical realities.

Ethereum Moves From Experiment to Maturity

Looking forward, Buterin pointed to Ethereum’s pluralistic approach as its greatest strength. Rather than committing to one strategy, the community works on multiple solutions across scaling, privacy, and governance.

Breakthroughs with technologies like ZK-SNARKs demonstrate how this method creates powerful synergies. Privacy remains central to Ethereum’s roadmap. Developers are focused on integrating privacy pools and improving data protection while keeping the network decentralized.

Buterin emphasized that the fate of Ethereum will neither rely on cultural movements nor on narratives but rather on whether it can provide safe, dependable, and valuable infrastructure for practical-world use cases.

Entering its second decade, Ethereum is moving on from the experimental to the more grown-up stage. In the future, says Buterin, trust will be grounded in verification and cryptography, with the world using Ethereum as a kind of global ledger that safeguards freedom as much as it does privacy.

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