Bankless Co-founder: ETH needs to become an economic asset that can compete with the G7 to form an Internet sovereign currency system

Ryan Sean Adams, co-founder of Bankless, said in a post on X: "When I say ETH is money, otherwise the whole thing is meaningless, I mean it. If your L1 chain does have defi™, but your defi™ can be closed by an email from the Treasury Department because all the funding pools and collateral and trading pairs are backed by the US government stablecoin, then what you have is fintech with extra steps. If you want a true Internet sovereign currency system - something we used to care about in the cryptocurrency field - then you need a huge economic asset to compete with the G7 as your base currency. ETH reaches ten trillion (market value), otherwise the whole thing is meaningless."