Conspiracy theorists now claim Solana and Ethereum, two of the largest smart contract platforms, are CIA assets. But, is this true?
Conspiracy theories, like the existence of aliens (apparently within the United States only) or that certain global figures are not human tend to go viral.
There is a psychological appeal to this. However, the masses’ resistance to proof makes it even harder to tackle such theories.
Explaining to people that they may, after all, be lies or providing solid evidence to explain may serve as fuel to the same conspiracy theory.
Conspiracy Theory: CIA Controls Solana
Now, there is a theory doing rounds on X that several top blockchains, mainly Ethereum and Solana, are agencies wholly backed by the United States CIA.
Rumor has it that the intelligence firm controls these two popular blockchain networks through a web of investments.
As expected, the theory has ignited debate, with proponents and skeptics contributing equally.
The fact remains that Ethereum and Solana are popular. If anything, they could even anchor the future of finance and the digital economy.
Ethereum and Solana currently command a market cap of over $380 billion.
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Thousands of revolutionary (and disruptive) dApps have been launched on these networks. They serve the community, some enabling access to financial services.
However, in some quarters, there is a conspiracy that Solana has been rising abnormally fast because of a CIA influence behind the scenes.
At the heart of this unfounded theory is that the Solana founder, Anatoly Yakavenko, could be a double agent, being a Ukrainian immigrant but with unusually close ties to the United States government.
The SOL Distribution Question: Evidence of CIA Meddling?
Yakavenko’s Ukrainian heritage and his status as a tech whiz based in the United States make him a powerful agent that the government can use to advance its agendas.
Conspiracy theorists add that this is visible in SOL distribution in the early days of the project.
A big chunk, one user on X said, belongs to influential crypto VCs (and there is nothing wrong with this).
However, to some, this was a “very non-cypherpunk philosophy, extremely unfair launch” now that it is known that the CIA “has good ties to tech companies and officers most often continue working at tech after retiring at CIA.”
With the agency reportedly in control, it becomes easier for them to surveil communication networks illegally, further lending credence to this theory.
The decision by the otherwise strict United States SEC to drop allegations that SOL, the native token of Solana, as an unregistered security, conspiracy theorists added, is more evidence to show that the government is protecting the network.
But Wait, What About Ethereum? Is Vitalik Safu?
Ethereum also was in focus.
Critics are adamant that Ethereum is in the CIA’s pocket.
Critics specifically point to the involvement of Consensys, a software development company, and its close ties to one of the world’s largest banks, JP Morgan.
ConsenSys, besides advocating for Ethereum development, is also behind MetaMask, one of the world’s popular web3 wallets.
The development giant also has interest validator clients and RPCs.
Their role alone, coupled with the fact that JP Morgan is in the picture, means the government combs transactions. Accordingly, there is no base privacy as many people think.
Crypto Conspiracy: With A Grain Of Salt
Nonetheless, users should approach these claims critically and, most importantly, weigh all evidence carefully.
Whether or not the CIA is a Solana or Ethereum investor is, for now, a matter of speculation.
The industry has rapidly grown and is increasingly complex, with numerous multi-billion players.
Governments are also keen on technology. However, it remains challenging to prove whether intelligence firms are also involved.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
