Two Prime Abandons Ethereum for Bitcoin—Calls ETH a ’Meme Coin Playground’

In a stinging rebuke to Ethereum’s recent trajectory, investment firm Two Prime has liquidated its ETH positions in favor of Bitcoin. The move comes as Ethereum’s network increasingly becomes a stage for speculative meme coins and vaporware projects.

’We’re witnessing a casino mentality,’ said the firm’s CIO, pointing to Ethereum’s clogged blocks and soaring gas fees. ’Bitcoin remains the only asset with institutional-grade scarcity.’

The switch highlights a growing divide: Bitcoin as digital gold, Ethereum as a high-risk tech experiment. Meanwhile, Wall Street quietly pockets fees from both sides—some things never change.

Moves at the Ethereum Foundation

Meanwhile, in March, the Ethereum Foundation appointed two co-directors, CORE researcher Hsiao-Wei Wang and Nethermind CEO Tomasz Stańczak, in a movemeant to distribute technical and operational responsibilities at the highest level.

The Foundation said the change was designed to help Ethereum “transition from an early-stage project to a robust base layer of global finance.”

Daily Debrief Newsletter