Qiao Wang is well-known in the cryptocurrency community. Long a force to be reckoned with as an investor and the founder of Alliance DAO, his recent choice to sell his entire Ethereum (ETH) holdings following a ten-year investment, however, surprised many. This decision reflects the mindset of an investor who believes he is constantly one step ahead, rather than merely a simple sell-off.
How did a former quantitative trader on Wall Street transition to blockchain? And why is he so certain that Ethereum is not where the future of crypto resides? His journey embodies significant changes, difficult decisions, and the courage to confront the ever-evolving sector.
Leaving Wall Street for the Future of Blockchain
Qiao Wang began his career in a field different from cryptocurrency. He was a quantitative trader on Wall Street before becoming a household name in the industry. The traditional world of finance provided him with valuable experience in data analysis, market prediction, and precise risk management. However, the rigid and exclusive financial system made him feel confined.
In contrast, the new blockchain technologies offered something entirely different: decentralization, openness, and freedom. For Wang, this represented a revolution rather than just an evolution. This is the reason he ultimately decided to transition into the crypto sector, leaving behind the comfort of traditional finance.
This change involved certain risks. Many of his peers considered his actions to be reckless and overly bold. Nevertheless, Wang was unwavering in his conviction: he wanted to take the lead if blockchain could disrupt the global financial system.
Alliance DAO: Building the Future of Web3
Once involved in the crypto space, Wang not only became an investor but also developed an ecosystem for blockchain-based businesses. Establishing Alliance DAO, an accelerator that supports Web3 developers and entrepreneurs, was one of his most significant actions.
Startups in this community not only gain access to a vast network within the crypto sector but also receive mentorship from professionals and funding. Wang believes that the future of Web3 is about creating an equitable and transparent system for everyone, not merely about digital currency.
Furthermore, Wang actively supports initiatives with anti-authoritarian values, including the creation of decentralized VPNs, encrypted messaging, and freer internet services. According to him, blockchain serves as a tool to combat government censorship and excessive control, as well as a financial one.
Still, amidst all his enthusiasm for cryptocurrency, the community harbors significant concerns regarding his controversial decision to sell Ethereum.
Why Did Qiao Wang Sell All His Ethereum?
As someone who has held Ethereum since the genesis block, Wang’s decision to sell all his ETH has surprised many. Is this a sign that Ethereum has reached its peak?
Wang asserts that Ethereum has limitations concerning scalability. Even though many solutions, such as Layer 2, have been developed, he observes that Ethereum’s advantages over its competitors are diminishing. For example, Solana offers lower fees and faster transactions—attributes that Wang believes will be more appealing to new developers and users.
“Ethereum Layer 2 does exist, but its advantages over other alternatives are no longer that significant,” he remarked in an online discussion.
He also emphasized that while many developers looking to transition from Ethereum to Solana find the switch worthwhile, others face a steep learning curve. Solana’s more efficient ecosystem is more attractive for developing blockchain-based technologies.
However, Wang does not dismiss any potential advancements for Ethereum. Although he still values the network’s contributions to the sector, as an investor, he sees better prospects elsewhere.