For most crypto ecosystems, compliance with federal sanctions has a negative impact on their global reach. However, in terms of Ethereum, investors have considerable power to make a decision how compatible the ecosystem is.
Almost 60% of all Ethereum blocks after the merger comply with US sanctions imposed by the Office of Foreign Assets Control (OFAC). While the crypto community opposes this transformation, many are unaware of their very own contribution to helping Ethereum achieve full OFAC compliance.
One of the largest aspects hurting the credible neutrality of Ethereum is the censorship of MEV relays by crypto ecosystems and exchanges. Minerable Value Relays (MEVs) act as a mediator between block producers and block builders, that are utilized by top crypto players corresponding to Binance, Celsius Network, Coinbase, Kraken, and Cream Finance, to call just a few.
Users betting on Ether (ETH) on platforms (as shown above) that run censored MEV relays on their validators are directly contributing to Ethereum censorship. Crypto platforms might help treatment this case by adopting the uncensored MEV-boost relay.
For validators and relay operators, some popular MEV-boost relays that don’t promote censorship include Ultra Sound Money, Agnostic Boost, Aestus, BloXroute Max Profit, BloxRoute Ethical, Manifold, and Relayooor.
At the time of writing, 67 of the last 100 Ethereum blocks have been found forcing OFAC compliance.
As investors, it is important to know that protocol-level censorship deters cryptocurrencies’ goal of unleashing open and inclusive finance. Thus, it becomes vital for each investors and repair providers to decide on MEV-boost relays without censorship.
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Recently, within the Ethereum ecosystem, two dormant addresses woke up after 4 years to transfer 22,982 ETH.
#PeckShield warning 2 Inactive addresses transferred 22,982 $ETH (~27.2 million) to 2 latest addresses, the last movement was in October 2018 (1535 days ago).
These $ETH comes from Genesis and Poloniex pic.twitter.com/MXKpLnypif— PeckShieldAlert (@PeckShieldAlert) December 19, 2022
The ETH transfers in query might be traced back to Genesis and Poloniex trading platforms, where unknown whales transferred 13,103.99 ETH and 9,878 ETH respectively.
