Demand Accountability and Regulation for Ethereum and Cryptocurrency Markets

The rapid rise of Ethereum, fueled by institutional investors, political figures, and new financial products like Spot Ethereum ETFs, has created a volatile and largely unregulated market. While some celebrate the potential for high profits, millions of ordinary people face increased risks of fraud, market manipulation, and financial instability. The recent surge in pro-crypto legislation, such as the GENIUS Act, has prioritized corporate interests and speculation over public good and consumer safety.

We are concerned that without strong regulatory action, the cryptocurrency market will continue to favor wealthy investors and insiders, leaving everyday people vulnerable. The concentration of Ethereum holdings among a few large actors, including political figures and corporations, undermines the democratic potential of decentralized finance and increases the risk of market manipulation. Furthermore, the push for ETF staking and other complex financial products may lock up assets and create systemic risks reminiscent of past financial crises.

We call on lawmakers and regulators to act now to ensure accountability, transparency, and protection for all participants in the cryptocurrency market.