Popular analyst Willy Woo said he believes Ethereum is under US control.
According to Woo, dApps built on Ethereum were never decentralized and transactions on the network were not censorship resistant.
Popular Analyst Speaks About Ethereum
Making the statement on Twitter, Woo added a screenshot from include.watch and said that 69% of Ethereum blocks are OFAC compliant.
Is this right? Only 3 months after ETH goes PoS, 69% of blocks are OFAC compliant?
Meaning Ethereum is already under control by the US government.
This means all DeFi apps running on ETH are not decentralised finance. And transactions are not censorship resistant. pic.twitter.com/VqNWuTXepn
— Willy Woo (@woonomic) December 23, 2022
OFAC is the Office of Foreign Asset Control, the agency that enforces US economic sanctions.
There are several concerns in the crypto community regarding the centralization of Ethereum. The first is that around 52% of Ethereum nodes are hosted by Amazon Web Services, an infrastructure provider.
Another concern is that 50% of the Ethereum network is controlled by Lido and Coinbase after Merge. This is where around 50% of all staked ETH is kept.
However, the fact that Lido is a DAO does alleviate some of these concerns.
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