Qiao Wang is well-known in the cryptocurrency community. Long a force to be reckoned with as an investor and Alliance DAO founder, his recent choice to sell his entire Ethereum (ETH) holdings following a ten-year investment, however, surprised many. This choice 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 Wall Street quantitative trader transition to blockchain? And why is he so certain that Ethereum is not where crypto’s future resides? His journey is marked by significant changes, difficult decisions, and the courage to face an ever-shifting sector.
**Leaving Wall Street for the Future of Blockchain**
Qiao Wang began his career in a field other than cryptocurrency. He was a Wall Street quantitative trader before becoming a household name in the industry. The traditional world of finance provided him with substantial experience—data analysis, market prediction, and precise risk management. Still, the inflexible and exclusive financial system left him feeling trapped.
In contrast, the new blockchain technologies presented a different reality: decentralization, openness, and freedom. For Wang, this was a revolution rather than merely an evolution. This is why he ultimately decided to venture into the crypto sector, leaving behind the comforts of traditional finance.
This change came with risks. Many of his contemporaries considered his actions reckless, even too bold. Nevertheless, Wang remained steadfast in his conviction: he wanted to lead the way if blockchain could disrupt the global financial system.
**Alliance DAO: Building the Future of Web3**
Once in the crypto space, Wang not only invested 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 endeavors.
Startups in this community not only gain access to a vast network in 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, rather than just focusing on digital currency.
Moreover, Wang actively supports initiatives with anti-authoritarian values, including the creation of decentralized VPNs, encrypted messaging, and freer internet services. He asserts that blockchain is a tool to combat government censorship and excessive control, as well as financial oppression.
Still, amid all his enthusiasm for cryptocurrency, the community expresses significant concerns regarding his controversial decision to sell his Ethereum holdings.
**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 astonished many. Is this a sign that Ethereum has reached its peak?
Wang claims that Ethereum has limitations in terms of scalability. Even though many solutions like Layer 2 have been developed, he observes that Ethereum’s advantages over its competitors are diminishing. For instance, Solana offers lower fees and faster transactions—qualities Wang believes will be more attractive to new developers and users.
“Ethereum Layer 2 does exist, but its advantages over other alternatives are not as significant as before,” he remarked in an online discussion.
He also emphasized that while many developers looking to transition from Ethereum to Solana find the change worthwhile, others face a steep learning curve. Solana’s more efficient ecosystem is more appealing for developing blockchain-based technologies.
However, Wang does not discount any advancements for Ethereum. Although he still values the network’s contributions to the sector, as an investor, he sees better prospects elsewhere.