The Trump-Musk feud and its impact to the global markets

The Trump-Musk feud and its impact to the global markets

The tensions between President Donald Trump and Elon Musk have sent shockwaves through global financial markets, igniting debates about their implications for risk sentiment, the cryptocurrency ecosystem, and the broader economy.

I will be dissecting this complex 18-hour blowup between two influential figures. I aim to provide a comprehensive, fact-based analysis of this feud’s fallout, weaving together data and insights to offer a clear picture of its ramifications.

This feud, which erupted over Musk’s criticism of Trump’s tax-policy bill and Trump’s retaliatory threats to terminate Musk’s government contracts, has tangible economic and political consequences that extend far beyond their personal rivalry.

Below, I’ll explore how this dispute is shaping investor sentiment, market performance, and the future of key industries, while also considering parallel developments like US-China trade talks and upcoming economic data.

The Feud’s immediate market impact

The public spat between Trump and Musk has undeniably rattled investors, as evidenced by the overnight performance of major US stock indices. The S&P 500 declined by 0.5 per cent, the Dow Jones Industrial Average by 0.3 per cent, and the Nasdaq Composite by a steeper 0.8 per cent. These drops reflect a broader pullback in global risk sentiment, a term that describes investors’ willingness to engage with riskier assets amid uncertainty.

The heavier decline in the tech-heavy Nasdaq suggests particular concern about the tech sector, where Musk’s Tesla is a prominent player. Tesla’s market capitalisation took a staggering US$152 billion hit in mere hours, underscoring the market’s sensitivity to Musk’s influence and the potential threat to his government-backed contracts and subsidies.

This feud’s financial toll wasn’t limited to traditional markets. The cryptocurrency space also felt the sting, with Ethereum dropping seven per cent on Thursday, slipping below the critical US$2,500 level and risking a further decline to US$2,260 after breaching a technical support threshold known as a rising wedge. TrumpCoin, a cryptocurrency tied to the former president’s brand, shed over US$100 million in value, highlighting how quickly sentiment can shift in the volatile crypto market.

These declines occurred despite robust activity in Ethereum’s ecosystem, where stablecoin volume across its Layer 1 and Layer 2 networks surpassed US$11 trillion in 2025, and bot-driven stablecoin transactions hit US$480 billion in May alone. The juxtaposition of this underlying strength with the feud-driven sell-off suggests that while fundamentals remain solid, short-term confidence has been shaken.

Why the feud matters: Economic and political stakes

At its core, this conflict pits two titans with outsized economic footprints against each other. Elon Musk, as CEO of Tesla and SpaceX, oversees companies that rely heavily on government contracts—SpaceX alone has secured billions in NASA and Department of Defense deals—and tax incentives for electric vehicles that bolster Tesla’s bottom line.

Trump’s threat to sever these lifelines could jeopardise Tesla’s profitability and SpaceX’s ambitious projects, potentially leading to job losses and ripple effects across the US economy. Tesla employs tens of thousands, and its supply chain supports countless more, while SpaceX is a linchpin in America’s space infrastructure. Any disruption could dampen economic growth at a time when the labor market, though resilient, faces mounting uncertainty from Trump’s tariff policies.

Politically, the feud escalates with Musk’s explosive accusation that Trump is implicated in the Jeffrey Epstein files, a claim that, while unproven, carries seismic implications. If substantiated, it could trigger investigations, destabilise Trump’s presidency, and fracture the Republican Party, especially if business leaders rally behind Musk in response to Trump’s contract threats.

This personal animosity has morphed into a broader ideological clash—Trump’s “One Big Beautiful Bill” pushes restrictive immigration and reduced green energy support, clashing with Musk’s innovation-driven, sustainability-focused vision. The stakes are high, and the fallout could reshape political alignments and policy priorities.

A glimmer of stability: US-China trade talks

Amid this chaos, investors may find solace in a parallel development: Presidents Trump and Xi Jinping have agreed to further trade talks to address disputes over tariffs and rare earth minerals. These negotiations, while not guaranteed to yield a breakthrough, signal a willingness to de-escalate tensions that have weighed on markets for weeks.

The easing of tariff fears has already nudged commodity prices, with gold falling 0.6 per cent to US$3,352.65 per ounce as safe-haven demand waned, and Brent crude rising 0.7 per cent above US$65 per barrel, buoyed by the Trump-Xi call and an ECB rate cut. Asian shares climbed in early trading, and US equity futures point to a higher open, suggesting that this diplomatic overture could offset some of the feud’s negative sentiment—provided it delivers tangible progress.

The labour market and monetary policy context

Friday’s upcoming US nonfarm payroll report offers another lens into the feud’s economic backdrop. Bloomberg estimates project payroll growth slowing to 125,000 in May from 177,000 in April, with the unemployment rate steady at 4.2 per cent. These figures indicate a labor market that’s holding firm despite Trump’s tariff unpredictability, a testament to its underlying strength.

Yet, a surprise jump in initial jobless claims recently prompted traders to briefly price in an earlier Federal Reserve rate cut, hinting at latent fragility. Rising US Treasury yields—2-year notes up 5.4 basis points and 10-year notes up 3.5 basis points—reflect lingering inflation concerns tied to tariffs, even as the US Dollar Index remained stable at a 0.1 per cent dip. This mixed data suggests that while the economy isn’t buckling, the feud’s uncertainty could amplify any weaknesses the report reveals.

Broader implications for the crypto market

The crypto market’s reaction to the Trump-Musk feud underscores its susceptibility to high-profile narratives. Ethereum’s seven per cent plunge isn’t just a technical correction; it’s a barometer of shaken confidence in a sector where Musk’s endorsements—like his past tweets boosting Dogecoin—have historically driven rallies.

TrumpCoin’s US$100 million wipeout ties directly to Trump’s tarnished image in this spat, illustrating how personality-driven assets can falter when their namesakes stumble. Yet, Ethereum’s US$11 trillion stablecoin milestone and May’s bot-driven surge to 4.84 million transactions show a resilient ecosystem. If the feud escalates, further crypto declines are possible, but the market’s fundamentals suggest it could rebound once the dust settles.

Long-term risks and opportunities

Looking ahead, the Trump-Musk feud poses significant risks. If Trump follows through on his threats, Tesla and SpaceX could face financial strain, curbing innovation in electric vehicles and space exploration—sectors vital to US competitiveness.

Job losses could erode consumer spending, a key economic driver, while a prolonged trade war with China, should talks falter, could disrupt rare earth supplies critical to tech manufacturing. Politically, Musk’s Epstein allegations, if proven, could upend Trump’s administration, reshaping the 2024 election landscape and fracturing GOP unity if business elites back Musk.

Yet, there’s potential upside. A successful Trump-Xi resolution could stabilise markets, boosting equities and commodities further. The feud might also spur Musk to diversify Tesla and SpaceX’s revenue, reducing reliance on government support and fostering resilience. In crypto, a post-feud recovery could draw new investors, especially if Ethereum’s fundamentals shine through the noise. For now, though, uncertainty reigns, and markets remain on edge.

Conclusion

The Trump-Musk feud is more than a headline-grabbing spat—it’s a multifaceted crisis with profound implications for global risk sentiment, cryptocurrencies, and the US economy.

Its immediate toll is clear: US$152 billion erased from Tesla, US$100 million from TrumpCoin, and declines across stocks and crypto. Yet, counterweights like US-China trade talks and a sturdy labor market offer hope, while bond, currency, and commodity movements reflect a complex investor calculus.

Long-term, the stakes involve jobs, innovation, and political stability, with outcomes hinging on whether Trump’s threats materialise, Musk’s allegations hold weight, and trade tensions ease. As this saga unfolds, the world watches, weighing risks against the faint promise of resolution.

 

Source: https://e27.co/the-trump-musk-feud-and-its-impact-to-the-global-markets-20250606/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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US-China trade deadline: Markets brace for impact

US-China trade deadline: Markets brace for impact

The Trump administration has issued a directive for countries to submit their best offers on trade negotiations by June 4, 2025, signalling an intent to expedite discussions with multiple trade partners. This deadline introduces a pivotal moment that could either pave the way for resolution or escalate existing frictions, further influencing market behaviour.

At the heart of this economic narrative lies the ongoing US-China trade dispute, a saga that has seen periodic escalations and temporary reprieves over recent years. The latest chapter involves heightened rhetoric and the looming deadline set by US officials, which has rekindled fears of tariff impositions or retaliatory measures.

The Trump administration’s push to accelerate trade talks is a strategic move aimed at securing favourable terms swiftly, but it also amplifies the stakes. Investors are left to ponder whether this pressure will yield constructive agreements or deepen the divide, particularly with China, whose economic policies and responses remain critical variables in the global equation.

The uncertainty is palpable, as markets historically react sharply to any whiff of trade war escalation, given the interconnectedness of global supply chains and trade flows.

Simultaneously, the US factory sector has delivered a sobering reality check. Recent data revealed weaker-than-expected performance, with manufacturing activity faltering amid softening demand and supply chain pressures. This downturn is significant because the manufacturing sector serves as a bellwether for broader economic health in the United States, the world’s largest economy.

The disappointing figures have fuelled concerns that the US might be losing momentum at a time when global growth is already under scrutiny. This development not only contributes to the subdued risk sentiment but also raises questions about the Federal Reserve’s next moves, as policymakers weigh the balance between supporting growth and managing inflationary pressures.

Speaking of the Federal Reserve, Chicago Fed President Austan Goolsbee, a voting member of the 2025 Federal Open Market Committee, has offered a measured perspective on the situation. He suggested that the Fed could proceed with interest rate cuts if the uncertainty surrounding trade policy dissipates, a statement that hints at a readiness to ease monetary conditions under the right circumstances.

Goolsbee also remarked that recent economic data has shown “surprisingly little impact so far” from the trade tensions, implying that the US economy has, to some extent, weathered the storm thus far. This cautiously optimistic tone contrasts with the market’s unease, highlighting a disconnect between official assessments and investor sentiment that often characterises periods of transition.

Despite the overarching caution, US stock markets managed to defy gravity on Monday, closing the session in positive territory. The Dow Jones Industrial Average edged up by 0.08 per cent, the S&P 500 climbed 0.41 per cent, and the Nasdaq Composite advanced 0.67 per cent. This resilience is noteworthy, especially as the CBOE Volatility Index, commonly known as the “fear index,” eased to 18.36 from 18.57.

While still above its long-term average, the VIX’s decline suggests a slight tempering of immediate market anxiety. However, this uptick in equities stands in contrast to broader global trends, as Asian equity indices closed mostly lower and continued to slide into the next day, while US equity futures signalled a weaker opening ahead. This divergence underscores the uneven impact of risk sentiment across regions and asset classes.

The bond market, meanwhile, painted a different picture. US Treasury yields rose across the maturity spectrum, with the 30-year yield briefly touching the psychologically significant five per cent mark. The 10-year yield increased by 4.0 basis points to settle at 4.440 per cent, and the two year yield rose by 3.9 basis points to 3.937 per cent.

This upward movement in yields reflects a shift in investor expectations, potentially driven by concerns over inflation or anticipation of tighter monetary policy down the road. Higher yields typically indicate that bond investors are demanding greater compensation for holding government debt, a sign that confidence in the economic outlook might be wavering or that inflationary pressures are creeping into the calculus.

In the currency markets, the US Dollar Index experienced a notable decline, dropping 0.63 per cent to its lowest close since April 21, 2025. This weakening of the dollar is a critical development, as it influences everything from trade competitiveness to commodity pricing. The dollar’s slide could be attributed to the confluence of trade uncertainties and shifting monetary policy expectations, which have diminished its appeal as a safe-haven currency in this instance.

Conversely, gold seized the opportunity to shine, rebounding by a robust 2.8 per cent. This surge aligns with gold’s traditional role as a refuge during times of geopolitical tension and currency depreciation, reinforcing its status as a barometer of investor unease.

Commodities offered additional insights into the market’s mood. Brent crude oil prices climbed 2.9 per cent to US$65 per barrel, a move that defies the OPEC+ decision to unwind an additional 411,000 barrels per day of output cuts in July.

This rise suggests that factors beyond supply adjustments—such as demand expectations, geopolitical risks, or currency effects—are driving oil prices higher. The resilience of oil in the face of increased production highlights the complexity of the current environment, where traditional supply-demand dynamics are overlaid with broader macroeconomic currents.

The cryptocurrency market, often a wild card in financial narratives, also made headlines. Bitcoin, after a meteoric 50 per cent surge over the past 45 days that propelled it to a record peak of US$111,880, shed nearly eight per cent in a sharp correction. This pullback, the first significant retreat since its April lows of US$74,501, follows a period of remarkably steady gains, as noted in the latest Bitfinex Alpha report.

Analysts have flagged potential turbulence in Bitcoin derivatives markets, where options open interest recently hit a staggering US$49.4 billion before retreating to US$39 billion post-May expiry. This peak, coupled with a spike in perpetual futures open interest near all-time highs, points to heightened speculative activity and a subsequent flushing out of leverage. Such dynamics suggest that Bitcoin traders are girding for volatility, a not-uncommon scenario for an asset known for its dramatic price swings.

Amid this turbulence, Strategy (MSTR), a firm with a well-documented Bitcoin strategy, doubled down on its commitment. The company acquired an additional 705 BTC for US$75 million, boosting its total holdings to 580,955 BTC at an average purchase price of US$70,023 per Bitcoin.

This latest purchase, executed at US$106,495 per BTC, was financed through at-the-market equity offerings via its perpetual preferred share classes STRK and STRF. Strategy’s unwavering accumulation reflects a belief in Bitcoin’s long-term value, even as short-term price fluctuations test the market’s resolve.

In a contrasting corporate narrative, Meta shareholders overwhelmingly rejected a proposal to consider Bitcoin as a treasury asset, with 95 per cent voting against it and less than one per cent in favour, per a Securities and Exchange Commission filing. This decisive rebuff underscores a preference for traditional financial strategies over speculative ventures into cryptocurrency.

Yet, Meta’s stock surged 3.6 per cent on news of its plan to deploy a fully AI-driven advertising engine by 2026, signaling that investors are far more enthusiastic about the company’s technological ambitions than its potential dalliance with Bitcoin.

In my view, the subdued global risk sentiment is a rational response to the twin pressures of US-China trade tensions and faltering US factory performance. The Trump administration’s June 4 deadline injects urgency into an already fraught situation, creating a high-stakes environment where outcomes remain uncertain.

A successful resolution could bolster confidence, but any misstep risks deepening economic fissures, particularly given China’s pivotal role in global trade. The manufacturing data, meanwhile, serves as a warning sign that the US economy may not be as robust as hoped, amplifying calls for policy intervention.

The Federal Reserve’s stance, as articulated by Goolsbee, strikes me as pragmatic yet cautious. The prospect of rate cuts contingent on trade clarity is a sensible approach, but the uptick in Treasury yields suggests that markets are already factoring in inflationary risks or a potential hawkish pivot. This tension between Fed rhetoric and market pricing could foreshadow challenges ahead, especially if economic indicators continue to soften.

Market reactions are a mixed bag. The resilience of US stocks is encouraging, but the broader global picture—evident in weaker Asian markets and US futures—hints at pervasive caution. The dollar’s decline and gold’s rally signal a flight to safety, while oil’s strength amid OPEC+ adjustments points to underlying demand or risk premiums at play.

In the crypto realm, Bitcoin’s correction feels like a natural pause after an extraordinary run, though Strategy’s steadfast accumulation contrasts sharply with Meta’s shareholder conservatism, illustrating divergent views on digital assets.

Ultimately, we’re in a period of flux where vigilance is paramount. Trade talks, economic data, and Fed decisions will steer the course, and while opportunities exist, the risks are equally pronounced. Investors would do well to stay informed and agile as this story unfolds.

 

Source: https://e27.co/us-china-trade-deadline-markets-brace-for-impact-20250603/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Ethereum Layer 2: A Forensic Analysis of Growth, Challenges, and Economic Impact

Ethereum Layer 2: A Forensic Analysis of Growth, Challenges, and Economic Impact

Key Points:

Ethereum Spot ETF Performance: Ethereum spot ETFs saw significant inflows last week, with BlackRock’s ETHA and Fidelity’s FETH leading with $287 million and $97.28 million respectively, boosting their total assets to $4.4 billion and $1.51 billion.
Layer 2 Controversy: The surge in ETF inflows hasn’t directly boosted Ethereum’s market performance. The Ethereum community criticizes Layer 2 networks for being “parasitic”, causing inflation by profiting from transaction fees while relying on Ethereum’s security.
Layer 2 Sequencer Profits: Layer 2 networks like Arbitrum earn substantial profits from sequencer operations, highlighted by a $1.04 million daily revenue on February 4, with minimal cost to Ethereum, sparking debates over centralization and profit motives.
Decentralization Challenges: Layer 2’s struggle with decentralizing sequencers is noted, with most still controlled by development teams. This central control is a significant point of contention, as sequencers are lucrative due to transaction fees, MEV, and interest.
Base’s Sequencer Revenue: Base, part of the Ethereum network, has been accused of transferring all sequencer gains to Coinbase, with little transparency on how these profits are handled, leading to community suspicion about ETH sales.
Vitalik’s Response: Vitalik Buterin has acknowledged the issues surrounding Layer 2’s economic models, calling for these networks to contribute back to Ethereum to ensure ETH’s value doesn’t diminish in a Layer 2-dominated ecosystem.

Ethereum Spot ETFs Surge, But Layer 2 Controversy Clouds Market Optimism
Ethereum spot ETFs saw a net inflow of $420 million last week, and all nine ETFs had no net outflow. Among them, the net inflow of BlackRock’s ETHA reached 287 million U.S. dollars, allowing ETHA to exceed 4.4 billion U.S. dollars. Fidelity’s FETH also received a net inflow of 97.28 million U.S. dollars, reaching 1.51 billion U.S. dollars thus far. However, despite the strong growth in capital inflows from Ethereum Spot ETFs, they have not significantly contributed to Ethereum’s market performance or quelled many controversies in the Ethereum ecosystem, especially regarding the Layer 2 operating model.
Recently, many netizens have criticised on “X” that Layer 2 network is actually “parasitic” on Ethereum, becoming the main source of its inflation. While Layer 2 brings scalability and efficiency to Ethereum, the economic model and operational mechanisms behind it are increasingly being questioned. This analysis combines current market data with community voices to take a look at the current Layer 2 controversy within the Ethereum ecosystem. Or is it actually Ethereum layer 2 or bad actors?
In the current cycle, the performance of ETH has lagged significantly behind the market as a whole, and some people attribute it to the heavy load of layer 2’s and some blame the Ethereum Foundation (EF)! This weekend, Layer 2’s became the object of community criticism. On February 9, Andre Cronje, co-founder of Sonic, posted on X, expressed significant public protest that Layer 2’s made a lot of money by continuing to sell sequencer earnings and had become a parasite on Ethereum. “Becoming Layer 2 – running a centralised sorting machine – charging a fee of $120 million – paying Ethereum another $10 million for DA and security – then selling $110 million for a profit – then claiming to be the “Ethereum Alliance.” I don’t understand how the Ethereum community convinced itself to accept this logic.Layer2 has become the main cause of Ethereum inflation again.”
Explaining Sorters & Collators Layer 2 – Layer 2’s Sorter Gains
Layer 2’s sequencer revenue controversy has become a commonplace topic. The collator has an indispensable role within Layer 2 architecture, and its main utility is as follows:
  1. Collect user transactions and package them into batches in a specific order.
  2. Provide users with instant transaction confirmation before the transaction is finally on the chain.
  3. Submission of transaction data compression to Layer 1 to reduce gas costs.
In Layer2’s decentralised vision, the decentralisation of the sorter operation is an essential step. However, the reality is that almost all of Layer2’s collators are run by the development team, which is one of the biggest criticisms about Layer 2’s.
Why are Layer 2’s unable to complete the decentralisation of the sorter?
There are certain technical and operational reasons for this, but another big reason that cannot be ignored is that in the real world, sorting machines are a very profitable business. The primary sources of direct revenue from the operation of the sorting machine include: 1) transaction fee differences; 2) MEV capture; 3) Funds deposit interest.
DeepSeek provides Oracle on the other actors to blame and the following: How profitable is business?
We can take a cursory look through data from a single day on February 4 (Arbitrum) On February 4, because of the collective volatility of the market, Arbitrum charged $1.04 million at the Layer 2 level in a single day, while paying Layer 1 a final settlement cost of less than $20,000 – meaning that in just one day, the chain made millions of dollars in gains from trading fee spreads. (DeepSeek, 2025)
A look at Base again!
First with Winter Mute now on Layer 2. As the most active Layer 2 network on the Ethereum mainnet ecosystem, Base has long been at the centre of relevant public opinion. As the debate about the benefits of Layer 2 sorters intensified, the community began to take aim at Base. Lucidity CIO ,Mr. Santisa took the lead on X, accusing Base of transferring all the sequencer gains to Coinbase since the launch of its own network, and there is reason to suspect that this ETH has definitely been sold off. “Since its launch, BASE has been transferring sorter fees to Coinbase. We don’t know if they sold it, but we do know that they didn’t deploy the funds on Base or keep them on-chain. In the absence of further transparency, we can reasonably assume that they have sold off. They don’t agree with Ethereum’s stance.” (Santisa, 2025)
The figure shows the Base sorter income address
(0xEc8103eb573150cB92f8AF612e0072843db2295F) Close analysis, combined with Coinbase’s earnings data was used to analyse whether Base had sold the ETH in question. Thorough post mortem analysis and on-chain data showed that Base had earned significant income through sorters within the past 12 months. Over $100 million in revenue, with a profit margin of over 90%, all of these fees have been transferred to the exchange via the Base-Ethereum-Coinbase network path. According to Coinbase’s public earnings data, as of June 30, 2023 Coinbase held about $230 million in ETH on its balance sheet, when the price of ETH was $1,934, which means Coinbase held 118,924 ETH; As of September 30, 2024, Coinbase held 119696 ETH on its balance sheet. Suspicious indeed.
Suspiciously since the launch of Base, Coinbase only added 772 ETH to its balance sheet, so where did the hundreds of millions of dollars of Base sequencer revenue go? There seems to be only one answer! One might question that Base’s revenue, as a (notionally) independent network, and should not be counted on Coinbase’s balance sheet, this is unreasonable, as Coinbase has highlighted Base’s increased revenue in multiple financial statements. “The Ethereum community is proud of their Layer 2, but what Layer 2 does every day is transfer fee revenue from Layer 2 to Layer 1 and then to Coinbase to sell. This is the frontrunner of the Ethereum ecosystem. The Ethereum community wake up.” Base (Coinbase) on SOL with wintermute and now with Ethereum Layer 2.
Vitalik is Overwhelmed!
As of the posting, Vitalik has not responded to the accusations made by netizens other Ethereum community members, but in his January 24 self-written article, under the pressure of public opinion, Vitalik sends out a message calling out L2 proprietors: “Back for ETH,” a permutation of Vitalik’s frustration with the current state of Layer2’s operations is visible.
Vitalik said in the article that it is necessary to clarify the economic model of ETH to ensure that ETH continues to accumulate value in a Layer2-intensive world.
On an executive level, Vitalik encourages Layer 2 to support ETH by contributing a percentage of its fees, providing a permanent support mortgage and donating the proceeds to Ethereum mainnet.

By @LarryMetaTrust CSO, HashAi and @anndylian, Blockchain Expert & Author / Graphics by @Crypt0JayBear

Source: https://x.com/OfficialHashAI/status/1889758949681090841

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j