According to Cointelegraph, Bloomberg senior ETF analyst Eric Balchunas sparked a backlash from the online community for posting “misinformation” about Ethereum on the X platform. The post has now been deleted.
On October 7, Balchunas shared a passage from Benjamin Hart’s book (Bitcoin: Beginner’s Guide) and stated that Ether (ETH) is not as secure as Bitcoin (BTC). The book claims that the U.S. government could “shut down Ethereum” by asking Amazon Web Services (AWS) to shut down its cloud services.
According to Ethernodes data, AWS is used as a hosting provider for 28.4% of Ethereum nodes, but it is not enough to completely take the blockchain offline. The book also claims that a rogue nation or terrorist group could kidnap Ethereum co-founder Vitalik Buterin and force him to hand over "all the Ether they want."
Ethereum educator Anthony Sassano responded by calling Balchunas’ post “absolute misinformation and almost complete propaganda.” Consensys product manager Jimmy Ragosa also said the shared excerpt was “the most propaganda-filled paragraph ever.”
Balchunas’ colleague, Bloomberg ETF analyst James Seyffart, replied, “These replies are going to be great hahaha.” Balchunas responded, “No time today, will only leave the Bitcoin part.”
Ethereum developers have also recently emphasized independent staking and low hardware requirements to further decentralize the blockchain.
