Opinion by: Houston Morgan, head of growth and business development at ShapeShift
Cryptocurrency was not meant to evolve this way. The initial vision was for decentralization, self-ownership, and the dismantling of gatekeepers. Yet, many crypto companies still venerate influential figures and trends over establishing equitable governance and frameworks.
The irony is striking. A movement designed to eliminate central points of control has often been derailed by its own leaders. We’ve witnessed repeated scenarios where exchange founders are idolized, while DeFi innovators manipulate token votes for personal advantage. The influence of a single individual can overshadow the system. When that individual stumbles, the entire structure collapses.
The imbalance of power fosters a dangerous cycle. Investors engage, not due to the system’s robustness, but based on their trust in the leader. Their understanding becomes synonymous with the project itself.
This dynamic is not new. In fields such as traditional finance, politics, and even celebrity worship, we see a similar trend — once power centralizes, failure is almost guaranteed. Cryptocurrency was meant to differ from this. Yet, many projects have inadvertently recreated the very hierarchies they sought to disrupt, but with diminished oversight, weaker safeguards, and reduced efficiency.
A decentralized system dependent on a single individual is a contradiction, allowing those in power an easy avenue for control. The silent majority should take note: remove the head of a snake, and the body will perish.
DAOs as an antidote
This is where decentralized autonomous organizations (DAOs) showcase real potential. Well-structured DAOs don’t just flatten hierarchies; they transform them into systems of shared ownership. They replace personalities with cultures centered on contribution.
When governance is collective and decision-making is transparent, communities can evolve past reliance on a singular leader. Instead of a lone figure steering the narrative, numerous contributors can take on leadership roles within their respective domains. No bosses. No central authority. Only builders.
Related: What is a DAO, and how does it work?
DAOs succeed because contributors regard them as their own. After all, they truly are. Every participant who engages and contributes is, in effect, a leader in their area. It may be chaotic; aligning visions without a top-down authority can be challenging. Consensus requires time. But the rewards are significant: shared ownership, invested interest, and communities driven by their mission rather than the mythos of a founder.
True decentralization does not imply a lack of leaders. It signifies an abundance of them.
The peril of personality
The allure of elevating charismatic individuals is comprehensible. Humans naturally gravitate towards stories more than numbers. A dynamic founder offers media, investors, and communities a convenient focal point. However, this shortcut bears repercussions.
When the myth surrounding a founder overshadows the protocol’s strength, vulnerabilities emerge. Projects may stagnate as they await a leader’s affirmation. Communities may splinter when a leader is scrutinized. And when they inevitably exit the scene—be it due to scandal, burnout, or politics—the project often becomes hollow.
Cryptocurrency does not need more heroes; it necessitates systems robust enough to thrive independently.
It’s now or never
This message seems urgent in any context, but the year 2025 has made it critical. The return of US President Donald Trump to the White House intensifies the precarious balance on which crypto depends. His administration has indicated that crypto will be utilized as a tool and a target: welcomed when politically advantageous, but suppressed when it threatens established interests.
This reality renders crypto’s cult of leadership distinctly perilous. Centralized control creates centralized vulnerabilities. A subpoena, a scandal, or an incisive speech could shatter legitimacy when a project relies on a single persona.
Decentralized governance complicates that centralized political strategy.
You cannot subpoena an entire community as you can summon a few individuals before Congress. Authentic DAOs may still face scrutiny, but their distributed accountability and global nature offer resilience that personality-driven groups can never achieve. They bring continuity and stability to an industry that has often been subjected to its volatility.
The choice we need to make
This is the pivotal moment. The industry must either wholeheartedly adopt decentralization as a principle, rather than mere rhetoric, or it will be absorbed back into traditional finance and be remembered only as an anarchistic anomaly in human history.
Cryptocurrency cannot pursue both paths. It cannot orbit charismatic leaders while simultaneously aiming to challenge Wall Street, the International Monetary Fund, or Big Tech. Prominent figures may garner headlines, but they also introduce fragility.
It is now or never. Those in power recognize this. They possess decades of experience in dismantling movements reliant on charismatic leadership. And they are watching closely.
Satoshi’s vision can only persist if the majority chooses to overthrow the minority. It’s time to dismantle the cult of leadership swiftly.
Opinion by: Houston Morgan, head of growth and business development at ShapeShift.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
