Opera co-founder and Vivaldi browser creator Jon von Tetzchner didn’t mince words when he blasted the crypto industry, saying "crypto should have been banned". He pointed out that pretty much every expert in the space warned early on about what could happen if the industry was left without clear rules.

Slamming the Lack of Crypto Rules

Von Tetzchner argues that the regulatory vacuum has let crypto companies hoard resources and ramp up their political power. "Now we’re stuck with crypto firms loaded with cash, buying off corrupt politicians on top of it," he said.

Drawing Parallels to Social Media

He thinks the same mistake was made with social media—letting platforms harvest user data for targeted ads and recommendations. That, in his view, turned into a systemic mess.

AI Concerns on the Horizon

Now, according to von Tetzchner, we’re seeing déjà vu with artificial intelligence: even the developers are calling for regulation because, as he puts it, "they can’t stop themselves."