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Gabor Gurbacs: Blockchain-only founders launch L1s for personal gain
Gabor Gurbacs comments on a trend where individuals focused on blockchain but not Bitcoin or crypto are launching their own Layer 1 projects.
He suggests that the motivation behind these endeavors is primarily driven by the founders' desire to increase their personal wealth rather than solve meaningful problems.
Gurbacs has previously cautioned that many organizations with governing boards or foundations should not be classified as decentralized finance, calling them governance-based DINO frameworks in a recent analysis. He has also assessed Bitcoin’s 20–30% nominal price rise since 2021, noting that real returns have remained under 10% after adjusting for inflation in another post. These remarks form part of his broader scrutiny of emerging blockchain and crypto projects.
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