Ethereum founder Vitalik Buterin criticized the collapse of the Trump meme coin, which fell 95% from its peak, during the 2026 Ethereum Chiang Mai Future Summit. Speaking with P2P Foundation founder Michel Bauwens, Buterin described 2025 as a challenging year for the crypto industry, highlighting the failure of the Trump coin as a catalyst for rethinking cryptocurrency's role. Buterin emphasized the need for cryptocurrencies to address social and political issues rather than relying solely on technological appeal. He warned that the industry faces strong competition from advancements in AI, SpaceX's Starship, and biotechnology. Buterin called for a decentralized model that avoids concentrating power in a few tech hubs amid growing public distrust.