Vitalik Buterin Claps Back at Visa’s ’Decentralization’ Claims—Ethereum’s Founder Doesn’t Hold Back

Visa's latest nod to blockchain decentralization got a reality check from Ethereum co-founder Vitalik Buterin—and the crypto world is buzzing.

When finance giants play buzzword bingo with Web3, someone's gotta call the bluff. Enter Buterin, slicing through corporate spin with trademark dry wit.

The irony? Traditional payment rails suddenly craving crypto credibility while still charging 2.9% + $0.30 per transaction. Some things never change—except maybe their PR strategy.

Ethereum co-founder Vitalik Buterin has responded to comments on the early structure of American payments giant Visa Inc.

In his recent post on X, he compared the firm to modern decentralized organizations.

His remarks came as debates continued over Visa and Mastercard’s role in restricting certain video games.

Ethereum Founder Likens Visa’s Early Model to Modern DAOs

Ethereum co-founder Vitalik Buterin joined a social media discussion started by Mihailo Bjelic of Polygon.

In his post on X, Bjelic noted that Visa began as a co-operative, describing it as “a proto-DAO.”

He pointed out that several banks also started in similar ways before changing into profit-focused companies.

In his post, Buterin said Visa was founded with principles that echoed today’s decentralized autonomous organizations, or DAOs.

Over time, he said, the network shifted to a model that many now see as more centralized and focused on extracting fees.

He mentioned merchant charges as one of the key reasons for that perception.

The exchange between the two crypto figures came at a time when Visa’s current role in the digital economy came under public scrutiny.

Ongoing disputes about its influence on the sale of certain games placed the payment network at the center of a wider conversation on financial control.

Steam, Itch.io, and the Payment Processor Dispute

In recent weeks, video game platforms Steam and itch.io made changes to their adult game categories.

Some titles were removed or made harder to find. Both companies said they acted after concerns were raised about losing access to major payment processing systems.

Activist group Collective Shout confirmed it had contacted Visa and Mastercard about games it argued promoted violence against women.

The group said it did not ask for all adult content to be taken down, but some platforms chose to apply broader restrictions.

Visa and Mastercard have both denied ordering platforms to remove specific games.

They said they allow all legal purchases but expect merchants to prevent transactions for illegal or brand-damaging material.

Valve, the company behind Steam, said it received the message indirectly through banks and other intermediaries rather than from Visa or Mastercard directly.

These changes sparked pushback from players and developers. Some developers made their games free to avoid payment disputes.

While alternative storefronts like Nutaku offered to work with creators affected by the restrictions.

Link Between Crypto Ideals and Payment Network Control

The discussion between Buterin and Bjelic drew attention because it linked Visa’s history to broader questions about control in financial systems.

Interestingly, they both said that some groups start by spreading out but later become more controlled by a few people.

In crypto, many believe being spread out stops one person or company from having all the power.

The fight over payment systems and game content shows that a few people can still have most of the power, even if a platform has many users.

Last month, the debate got louder. Some people in the industry suggested new ways to pay, like creating their own payment processors.

In addition, they also mentioned using tokens or creating separate blockchain-based adult-content marketplaces that don’t depend on Visa or Mastercard.

Others argued that platforms should limit payment restrictions to affected content while keeping the rest of their operations unchanged.

Vitalik Buterin did not give a specific plan, but he said Visa’s MOVE from a co-op to a centralized company could be a good example to look at.

For both gaming and blockchain communities, the issue highlighted the balance between open access and financial network policies.

The ongoing discussion showed how payment systems can shape what content is available, even when that the materials remains legal under the law.