Andrew Kang, co-founder of Mechanism Capital, has criticized Fundstrat's Tom Lee for his optimistic Ethereum price predictions. During Korea Blockchain Week 2025, Lee suggested Ethereum could reach $10,000 to $12,000, with a potential high of $15,000. Kang dismissed these projections as 'delusional,' citing stagnant Ethereum fees despite growth in stablecoins and real-world assets. He also likened Lee's stance to the Celsius collapse and accused him of providing 'exit liquidity' to crypto insiders. Additionally, Kang rejected Lee's 'digital oil' analogy and the notion that Ethereum could match the value of all financial infrastructure firms.