Bankless Host Declares Ethereum Failed Without Trillion-Dollar ETH

On June 4, 2026, Bankless co-founder Ryan Sean Adams argued Ethereum is effectively a failed project unless ETH becomes a global store of value at trillion-dollar scale. The debate follows Vitalik Buterin’s June 1 options-based DeFi proposal to replace liquidations and oracles, which aligned with CME Group’s June 2 launch of 24/7 crypto futures logging 7,200 contracts and $50 million notional. Earlier pressure included $712.55 million in U.S. spot Ethereum ETF outflows over three weeks and ETH’s May local low near $2,020, highlighting tension between short-term sentiment and long-term protocol utility.