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Zcash co-inventor defends Ethereum despite $712M ETF outflows and market crisis.

Market News
31 May 2026
UToday
View Source
Neutral
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Eli Ben-Sasson, co-inventor of Zcash and CEO of StarkWare, defended Ethereum amid significant challenges including a $712 million outflow from Ethereum spot ETFs and a broader market crisis. Despite criticism and a prolonged bear market, he emphasized Ethereum's unique technological value and its role as the foundational platform for decentralized finance. Ben-Sasson highlighted that the exit of speculative capital does not diminish Ethereum's fundamental importance or its status as a global standard in blockchain technology. This defense comes as Ethereum's price hit a local low near $2,020, reflecting ongoing market pressures but not undermining long-term developer confidence in the network's future.

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