For most crypto ecosystems, compliance with federal sanctions has a negative impact on their global reach. However, When it comes to Ethereum, investors have significant power to decide how compliant the ecosystem is.
Nearly 60% of all post-merger Ethereum blocks comply with US sanctions set by the Office of Foreign Assets Control (OFAC). Although the cryptocurrency community opposes this transformation, many do not realize their own contribution to helping Ethereum achieve full OFAC compliance.
One of the biggest factors undermining the credible neutrality of Ethereum is the use of censoring miners’ extractable value (MEV) relays by cryptocurrency ecosystems and exchanges. MEV relays work as a mediator between block producers and block builderswhich are being used by prominent cryptocurrency players, such as Binance, Celsius Network, Coinbase, Kraken, and Cream Finance, to name a few.
Users staking Ether (ETH) on platforms (as shown above) that run MEV censor relays in their validators are directly contributing to Ethereum censorship.. Crypto platforms can help remedy the situation by adopting an uncensorable MEV-boost relay.
For validators and relay operators, some of the popular MEV-boost relays that do not promote censorship include Ultra Sound Money, Agnostic Boost, Aestus, BloXroute Max Profit, BloxRoute Ethical, Manifold, and Relayooor.
At the time of writing this article67 of the last 100 Ethereum blocks were OFAC compliant.
As investors, it is important to understand that censorship at the protocol level is a deterrent to the cryptocurrency goal of unleashing open and inclusive finance. Therefore, it becomes important for both investors and service providers to opt for uncensored MEV-boost relays.
The Ethereum ecosystem recently witnessed two dormant addresses wake up after four years to transfer 22,982 ETH.
#PeckShieldAlert 2 Dormant addresses transferred 22,982 $ETH (~27.2M) to 2 fresh addresses, their last movement was October 2018 (1,535 days ago).
estos $ETH originated from Genesis and Poloniex pic.twitter.com/MXKpLnypif— PeckShieldAlert (@PeckShieldAlert) December 19, 2022
#PeckShieldAlert 2 Inactive addresses transferred 22,982 ETH (~27.2M) to 2 fresh addresses; its last movement was in October 2018 (1,535 days ago). These ETH originated from Genesis and Poloniex pic.twitter.com/MXKpLnypif
The ETH transfers in question can be traced back to the Genesis and Poloniex trading platforms, where the unknown whales transferred 13,103.99 ETH and 9,878 ETH, respectively..
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