Compartilhe este artigo
Emin Gun Sirer: SEC ICO Guidance is 'End of Beginning for Blockchains'
A Cornell professor who was at the center of last year's DAO hack has issued new comments on an SEC ruling on the project.
Por Pete Rizzo
The Cornell University professor who was among the first to warn about the vulnerabilities that led to the collapse of The DAO has issued new statements on a ruling today from the US Securities and Exchange Commission finding the project had indeed issued securities.
A prominent public critic of the project, Emin Gun Sirer was vocal about its issues, though his statements often pointed to weak points in its technical design. At the time, he called out issues with the project's voting mechanisms, alongside possible attacks that could be launched against its code (and eventually were).
STORY CONTINUES BELOW
Não perca outra história.Inscreva-se na Newsletter Crypto Daybook Americas hoje. Ver Todas as Newsletters
In remarks following the SEC's statements today, Sirer cautioned that the ruling could have an impact equaling The DAO's collapse in its industry impact. In fact, he went so far as to say the finding by the US regulator may have a "chilling effect" on innovation.
However, ultimately, he said it is likely to usher in a new, more tempered era of industry development, one that fosters sustainable, long-lasting project development.
Sirer told CoinDesk:
"This portends the end of the beginning for blockchains. We can no longer count on regulators not understanding what a blockchain is, nor can people use the veneer of a block-oriented data structure to subvert the law. In turn, it represents public acceptance of on-chain financial instruments as being equivalent to traditional ones."
If the ruling is being taken as a setback, it's one from which Sirer believes the industry can recover.
Looking ahead, Sirer sought to position it as a moment that could serve as a call to action for the industry, concluding:
"In the next chapter, we will see the cryptocurrency community focus more on its competency and innovative technology, and less on disguised financial instruments, and we will see the financial incumbents challenged by fundamentally innovative technology that can do what has never been done."
Michael del Castillo contributed reporting.
Emin Gun Sirer image via Michael del Castillo
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Market Echoes Early 2022 as Onchain Stress Mounts: Glassnode
Rising bitcoin supply in loss, weakening spot demand and cautious derivatives positioning were among the issues raised by the data provider in its weekly newsletter.
What to know:
- Glassnode's weekly newsletter shows multiple onchain metrics now resemble conditions seen at the start of the 2022 bear market, including elevated top buyer stress and a sharp rise in supply held at a loss.
- Off chain indicators show softening demand and fading risk appetite, with declining ETF flows and weakening spot volumes.
Top Stories
